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SB 249 - Amends and Authorizes Additional Flexibility When Issuing Captive Insurance - Delaware Key Vote

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Title: Amends and Authorizes Additional Flexibility When Issuing Captive Insurance

Signed by Governor John Carney, Jr.


Title: Amends and Authorizes Additional Flexibility When Issuing Captive Insurance

See How Your Politicians Voted

Title: Amends and Authorizes Additional Flexibility When Issuing Captive Insurance

Vote Smart's Synopsis:

Vote to pass a bill that amends and authorizes the Commissioner with additional flexibility to approve those types of financial institutions that would be authorized to hold required capital and surplus of captive insurance companies in Delaware.

Highlights:

  • Specifies that minimum capital and surplus described in this section held in the form of cash or other assets approved by the Commissioner shall be maintained in a financial institution approved by the Commissioner and in compliance with any condition imposed by the Commissioner (Sec. 1). 

  • Specifies that the provisions of this bill shall take effect immediately upon passage and approval by the Governor (Sec. 2).

Full Bill Text

Title: Amends and Authorizes Additional Flexibility When Issuing Captive Insurance

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