Delaware Insurance Commissioner Karen Weldin Stewart says the state is working to attract new insurance carriers.
Stewart made the announcement Thursday while discussing new sources of revenue the commission is pursuing.
She says captive insurance companies are another possible source of revenue. Captive insurance is a separate division of a business formed to better insure its risk at a lower cost.
The new Bureau of Captive and Financial Insurance Products division is a division of the state’s Department of Insurance. Stewart says its mission is accelerating and developing potential revenue streams, including new captive insurance companies.
The bureau is also considering an insurance exchange to bring in more money for the state.
Was this article valuable?
Here are more articles you may enjoy.
AI Bubble Risks Worst S&P 500 Crash Since 2008, Strategist Says 
Gronkowski Now Pitchman for eMaxx, a Reciprocal With a Different Playbook 
Union Pacific Railroad Fined $304K for Firing Employee During Severe Weather 
Florida Commissioner Suspends A-Cap’s Atlantic Coast Life Over Surplus Issues 
