BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Chapter 7, Title 18, of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:
§ 701. Fee Schedule.
(34) Subject to §714 of this Title,
Fform, advertising, and/or rule filings for each insurance policy or annuity contract or application 150
§ 714 Expenses and fees for form and rate filings.
(a) In addition to a filing fee
of $150 as set forth in § 701 of this Title, the expenses and fees of the Department of Insurance for the review and determination of a form and rate filing by an insurer shall be assessed to and paid by the insurer and shall include the reasonable and proper expenses of the Commissioner and the Commissioner’s examiners and assistants, including expert assistance contracted for by the Commissioner. Such insurer shall promptly pay the form and rate filing review expense upon presentation by the Commissioner or the Commissioner’s examiners of a reasonably detailed written account thereof.
(b) No insurer shall be required to pay a form filing fee pursuant to § 701 (34) of this Title that exceeds $2,000 per filing. For form filings that are made on a group-wide basis, the $2,000 filing cap shall be applied to each insurer within the filing.
The increase in fees collected in Fiscal Year 2018 pursuant to this section shall be used solely to make appropriations for certain grants-in-aid for the fiscal year ending on June 30, 2018.
Section 2. This Act shall take effect July 1, 2019.
Approved July 17, 2019