18 Del. Admin. Code § 903-6.0

Current through Register Vol. 28, No. 5, November 1, 2024

Section 903-6.0 - Penalties for Failure to Remit Prompt Payment of a Settled Claim

6.1 If the Department determines that a person has failed to remit prompt payment of a settled claim as required by 18 Del.C. § 2304 (16)(f) and this regulation in bad faith and with such frequency as to indicate a general business practice, the Department may file an administrative action against the person in accordance with 18 Del.C. § 323 and the Administrative Procedures Act. If the Commissioner finds after a hearing that the person has violated 18 Del.C. § 2304 (16)(f) and this regulation, the Commissioner may:

6.1.1 Award interest to the claimant in an amount equal to the prime rate of interest plus 3% on the amount of the claim, which shall be calculated from the applicable date listed in subsection 5.1 of this regulation;

6.1.2 Fine the person according to the provisions outlined in 18 Del.C. § 329 and impose other such penalties as provided in 18 Del.C. § 520.

6.1.3 Fine any person involved with the claim or settlement according to the provisions outlined in 18 Del.C. § 2308 (a)(1).

18 Del. Admin. Code § 903-6.0

24 DE Reg. 283 (9/1/2020) (final)