Title 18, Insurance Code

§ 6857. Savings clause. This chapter applies to actions, cases and proceedings brought after April 26, 1976, and also applies to any further conduct of actions, cases and proceedings then pending, except to the extent that application of this chapter would not be feasible, or wou…

§ 6858. Tail coverage for Veterans Administration hospital surgeons. No insurance policy sold or delivered in this State providing insurance for acts of medical negligence or malpractice shall revoke the tail coverage of a retired physician as a consequence of that physician endi…

§ 6861. Advance payment; evidence thereof. (a) Any advance payment made by a defendant health care provider or the provider’s insurer to or for a plaintiff or any other person shall not be construed as an admission of liability for injuries or damages suffered by the plaintiff or…

§ 6862. Collateral source. In any medical negligence action for damages because of property damage or bodily injury, including death resulting therefrom, there may be introduced, and if introduced, the trier of facts shall consider evidence of: (1) Any and all facts available as …

§ 6863. Nonassignability of claims. A claim for compensation under this chapter is not assignable; provided, however, that rights of subrogation shall not be deemed to constitute assignment.60 Del. Laws, c. 373, § 1;

§ 6864. Periodic payments; reduction of awards in event of certain contingencies. (a) Where a person recovers a judgment against a health-care provider, the Court may, after making a determination as to the amount of such judgment which was awarded as compensation for future pain…

§ 6865. Limitation on attorneys’ fees. (a) The amount of the claimant’s attorneys’ fees may not exceed the amounts in the following schedule: (1) 35% of the first $100,000 of damages; (2) 25% of the next $100,000 of damages; (3) 10% of the balance of any awarded damages. (b) Notw…

§§ 6870, 6871. Study Commission; submission of reports and proposed legislation. Repealed by 67 Del. Laws, c. 105, § 1, effective July 12, 1989.

§ 6901. Finding; purpose. (a) It is determined and declared as a matter of legislative finding that captive insurance companies can serve a valuable risk management function, and that their responsible utilization and the growth of the captive insurance industry in the State of D…

§ 6902. Definitions. As used in this chapter, unless the context requires otherwise: (1) “Affiliated company” means any person (other than a natural person in that person’s individual capacity) in the same corporate system as a parent, an industrial insured, or an association mem…

§ 6903. License application; certificate of authority. (a) Any person complying with § 6906 of this title may apply to the Commissioner for a certificate of authority to do any and all insurance business comprised in §§ 902-905, 906(a)(1),(2), (4)-(15) and (b), 907 and 908 of thi…

§ 6904. Company name. No captive insurance company shall adopt a name that is the same as, deceptively similar to, or likely to be confused with or mistaken for, any other existing business name registered in this State.64 Del. Laws, c. 454, § 1; 75 Del. Laws, c. 150, § 1;

§ 6905. Minimum capital and surplus; letter of credit. (a) No captive insurance company shall be issued a certificate of authority unless it shall possess and thereafter maintain capital and surplus of: (1) In the case of a pure captive insurance company, not less than $250,000; …

§ 6906. Formation of captive insurance companies. (a) A pure captive insurance company may be any of the following: (1) Incorporated as a stock corporation or as a nonstock corporation. (2) Formed as a limited liability company, partnership, limited partnership, series, or statut…

§ 6907. Annual reports. (a) Captive insurance companies shall not be required to make any annual report to the Commissioner except as provided in this chapter. (b) Prior to April 15 of each year, each captive insurance company other than a branch captive insurance company for whi…

§ 6908. Examinations and investigations. At least once in 3 years, and whenever the Commissioner determines it to be prudent, the Commissioner or the Commissioner’s examiner shall personally visit each captive insurance company and thoroughly inspect and examine its affairs to as…

§ 6909. Suspension or revocation of certificate of authority. (a) A captive insurance company’s certificate of authority to do an insurance business in this State may be suspended or revoked by the Commissioner for any of the following reasons: (1) Insolvency; (2) Failure to meet…

§ 6910. Legal investments; management of assets. (a) Association captive insurance companies, special purpose captive insurance companies, series captive insurance companies, and risk retention groups shall comply with: (1) The investment requirements contained in Chapter 13 of t…

§ 6911. Reinsurance. (a) Any captive insurance company may provide reinsurance, on risks ceded by any other insurer, in accordance with § 910 of this title. (b) With the exception of a risk retention group, any captive insurance company may take credit or a reduction from liabili…

§ 6912. Rating organization membership. No captive insurance company shall be required to join a rating organization.64 Del. Laws, c. 454, § 1; 75 Del. Laws, c. 150, § 1;

§ 6913. Prohibited associations. No captive insurance company shall be permitted to join or contribute financially to any plan, pool, association, or guaranty or insolvency fund in this State, nor shall any such captive insurance company, or any insured or affiliate thereof, rece…

§ 6914. Tax on premiums collected. (a) Each captive insurance company, other than a sponsored captive insurance company (including a sponsored captive insurance company that is also a special purpose financial captive insurance company), and each protected cell of a sponsored cap…

§ 6915. Rules and regulations; in general. The Commissioner may establish and from time to time amend such rules and regulations relating to captive insurance companies as are necessary to enable the Commissioner to carry out the provisions of this chapter.64 Del. Laws, c. 454, §…

§ 6915A. Exemption from rules and regulations; special purpose captive insurance companies. The Commissioner, on a case by case basis, may by order exempt a special purpose captive insurance company from the provisions of this chapter and any rule or regulation established by the…

§ 6916. Applicable laws. (a) Only the following provisions of this title apply to a captive insurance company: (1) Chapter 3 of this title, except for § § 331, 332, and 333 of this title. (2) Sections 2702, 2703, 2706, and 2716 of this title. (3) This chapter. (4) Provisions of t…

§ 6917. Captive insurance regulatory and supervision fund. (a) There is hereby created a fund to be known as the captive insurance regulatory and supervision fund for the purpose of providing the financial means for the Commissioner to administer this chapter. All of the tax unde…

§ 6918. Delinquency. To the extent not inconsistent with this chapter, the provisions of Chapter 59 of this title shall apply to captive insurance companies licensed under this chapter (including for this purpose individual protected cells of sponsored captive insurance companies…

§ 6919. Rules for controlled unaffiliated business. The Commissioner may adopt rules establishing standards to ensure that a pure captive insurance company’s parent or any of its affiliated companies is able to exercise control of the risk management function of any controlled un…

§ 6920. Confidentiality. All portions of license applications reasonably designated confidential by or on behalf of an applicant captive insurance company, all information and documents, and any copies of the foregoing, produced or obtained by or submitted or disclosed to the Com…

§ 6921. Material changes in information; continued licensure. In the event of any material change in the financial condition or management of a captive insurance company, the captive insurance company shall notify the Commissioner in writing promptly of any such change and in any…

§ 6922. Material transactions; prior notice. No captive insurance company shall voluntarily take any of the following actions without providing the Commissioner at least 30 days prior written notice or receiving the Commissioner’s approval of any such action within such 30 day pe…

§ 6923. Books and records. (a) Unless otherwise approved by the Commissioner, a captive insurance company shall maintain its books, records, documents, accounts, vouchers and agreements in this State. A captive insurance company shall make its books, records, documents, accounts,…

§ 6924. Dormant captive insurance companies. (a) A dormant captive insurance company shall possess and maintain unimpaired capital and surplus in an amount of $25,000 or such other amount as determined by the Commissioner. (b) A dormant captive insurance company shall not be subj…

§ 6931. General. In addition to the provisions of subchapter I of this chapter, the provisions of this subchapter shall apply to sponsored captive insurance companies, and § 6922 of this title shall apply to each protected cell of a sponsored captive insurance company.75 Del. Law…

§ 6932. Definitions. As used in this subchapter, unless the context requires otherwise: (1) “Participant” means any person, including any counterparty as defined in § 6952(1) of this title, that is insured by a sponsored captive insurance company, where the losses of the particip…

§ 6933. Supplemental license application materials. In addition to the information required by § 6903(c) of this title, each applicant sponsored captive insurance company shall file with the Commissioner the following: (1) Materials demonstrating to the satisfaction of the Commis…

§ 6934. Protected cells. A sponsored captive insurance company may establish and maintain 1 or more protected cells to insure risks of 1 or more participants, subject to the following conditions: (1) The owners of a sponsored captive insurance company shall be limited to its part…

§ 6935. Qualification of sponsors. A sponsor of a sponsored captive insurance company shall be an insurer (including a reinsurer) licensed under the laws of this State or any other state, a captive insurance company licensed under this chapter, or any other person approved by the…

§ 6936. Participants in sponsored captive insurance companies. (a) Any person may be a participant in any sponsored captive insurance company. (b) A sponsor may be a participant in a sponsored captive insurance company. (c) A participant need not be an owner of the sponsored capt…

§ 6937. Investments by sponsored captive insurance companies. (a) Notwithstanding the provisions of § 6934 of this title, a sponsored captive insurance company may combine the assets of 2 or more protected cells for purposes of investing those assets. Such a combination of assets…

§ 6938. Delinquency of sponsored captive insurance companies. The provisions of § 6918 of this title shall apply to a sponsored captive insurance company and to each protected cell of the sponsored captive insurance company, provided: (1) The assets of a protected cell may not be…

§ 6951. Purpose. This subchapter provides for the authorization of special purpose financial captive insurance companies empowered to issue securities and otherwise access financial markets and alternative sources of capital through securitizations and other transactions. The int…

§ 6952. Definitions. As used in this subchapter, unless the context requires otherwise: (1) “Counterparty” means a person, other than a natural person, which may but need not be the parent or an affiliate of the special purpose financial captive insurance company, that enters int…

§ 6953. Application of subchapter. (a) Except as otherwise provided, subchapters I, II, and IV of this chapter apply under this subchapter to special purpose financial captive insurance companies. (b) The Commissioner, by rule or order, at the Commissioner’s discretion and on a c…

§ 6954. Application requirements. In addition to the items required under § 6903 of this title and, as applicable, under § 6933 of this title, a special purpose financial captive insurance company’s plan of operation must include the following: (1) A description of the contemplat…

§ 6955. Certificate of authority and order. (a) Upon a determination by the Commissioner that the requirements in § 6954 of this title have been met, the Commissioner may grant a certificate of authority and, at the discretion of the Commissioner, an order imposing the conditions…