18 Del. Admin. Code § 101-3.0
Current through Register Vol. 28, No. 5, November 1, 2024
Section 101-3.0 - General Administration of Insurance Regulatory Laws3.1 The Commissioner: 3.1.1 Shall grant or deny applications for Certificates of Authority in accordance with the requirements, information and instructions set forth in the Code.3.1.2 Approve or disapprove all petitions filed with the Secretary of State for organizing domestic insurers.3.1.3 Renew Certificates of Authority.3.1.4 Examine each insurer, rating organization, advisory organization and joint underwriting or joint reinsurance group, association or organization authorized to do business in the State.3.1.4.1 Whenever the Commissioner shall deem it expedient, he shall examine the affairs, transactions, accounts, records, documents, and assets of each insurer authorized to do business in this State and any other fact relative to its business methods, management and its dealings with policyholders.3.1.4.2 At least once every five years he shall so examine each domestic insurer.3.1.4.3 Whenever he shall deem it necessary and at least once in five years, the Commissioner shall fully examine each rating organization which is licensed in this State. As often as he shall deem it necessary, he may examine each advisory organization and each joint underwriting or joint reinsurance group, association or organization.3.1.4.4 The Commissioner shall examine the affairs, transactions, accounts, records, documents and assets of each insurer or rating organization applying for authority to do business in this State, and any other fact relative to its business methods, management and its dealings with policyholders.3.1.4.5 Determine when an insurer should be cited to show cause why his Certificate of Authority should not be suspended or revoked.3.1.4.6 Determine when court action should be taken.3.1.5 The Department may institute court proceedings when the Commissioner's order upon hearing has been ignored or defied.3.1.5.1 Pass upon eligibility, soundness and the amount of securities to be deposited with the Treasurer by an insurer to qualify for a Certificate of Authority.3.1.5.2 Determine when an insurer may be permitted to withdraw its securities.3.1.5.3 Review and pass upon all proposals for merger or sale where a domestic insurer is a party.18 Del. Admin. Code § 101-3.0