Delaware Insurance Commissioner Matt Denn and the Department of Insurance are seeking applicants for the position of director of the department’s newly-revised captive insurance company division.
Under a law enacted on July 12, the state rewrote its original captive insurance company statute, which has been in effect since 1984. Officials hope this rewrite will make the state more competitive and encourage new captive insurance companies to form in the state.
The new law permits expanded choices in the legal organization a captive may assume, a wider range of allowable insurance coverages and more flexibility in capital and surplus requirements.
Applications for the position are due by Oct. 31, 2005. Copies of the job description are available through the employment page on the website, www.state.de.us/inscom.
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