August 8, 2005

The 143rd Delaware General Assembly wrapped up its 2005 biennial session with the passage of the budget bill on June 30 and without the passage of legislation that would have negatively impacted insurers according to the Property Casualty Insurers Association of America.

Enacted legislation includes SB 20, which permits the Department of Insurance Fraud Bureau investigators to confiscate the tags of automobiles that have been found to be uninsured. The bill also requires advance notice of the planned confiscation to the vehicle’s owners and an opportunity to prove they have coverage.

Also, HB 192 requires public participation in a final agency agreement passed this year. While this legislation does not directly impact property/casualty insurers, it may make it easier for insurers to add their voice to an agency consent decree where the public is normally left out of the decision-making process.

Another bill, HB 218, would help provide flexibility in establishing captive insurers in Delaware through certain changes in the statutes. This bill will help to make Delaware the ‘first state’ on attracting captive insurers. It has passed the General Assembly and is awaiting the governor’s action.

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Insurance Journal West August 8, 2005
August 8, 2005
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