TITLE 18

Insurance Code

Insurance

CHAPTER 19. DELAWARE NONADMITTED INSURANCE ACT

Subchapter IV. Miscellaneous


This chapter shall apply to all nonadmitted insurance business in which this State is the home state of the insured as defined in this chapter.

78 Del. Laws, c. 176, § 5.;

All provisions of this chapter may be altered from time to time or repealed.

78 Del. Laws, c. 176, § 5.;

This chapter constitutes and may be cited as the "Delaware Nonadmitted Insurance Act."

78 Del. Laws, c. 176, § 5.;

(a) Penalties cited in this chapter are not exclusive remedies. In addition to any penalty provided herein, including any suspension, revocation or refusal to renew a license, any person, firm, association or corporation violating any provision of this chapter may also be assessed penalties under § 2308 or § 2411 of this title.

(b) Whenever the Commissioner believes, from evidence satisfactory to him or her, that a person is violating or about to violate the provisions of this chapter, the Commissioner may cause a complaint to be filed in a court of competent jurisdiction for restitution and to enjoin and restrain the person from continuing the violation or engaging in or doing any act in furtherance thereof. The court shall have jurisdiction of the proceeding and shall have the power to make and enter an order of judgment awarding such preliminary or final injunctive relief and restitution as in its judgment is proper.

78 Del. Laws, c. 176, § 5; 70 Del. Laws, c. 186, § 1.;

This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety, and support of the state government and its existing institutions, and shall go into immediate effect. The facts constituting the necessity are: In order to forestall preemption on June 16, 2011, of state statutes pertaining to surplus line insurance taxation, eligibility, and broker licensure by the Nonadmitted and Reinsurance Reform Act of 2010 [15 U.S.C. § 8201 et seq.], a part of the federal Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 [12 U.S.C. § 5301], it is necessary that this act take effect immediately.

78 Del. Laws, c. 176, § 5.;