18 Del. Admin. Code § 302-2.0

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

Section 302-2.0 - Annual Reporting Requirements

2.1 Except as provided in 18 Del.C. § 6907 (c), a company doing business in this State shall annually prior to April 15, submit to the Commissioner a report of its financial condition, verified by oath of two of its executive officers or other authorized persons. The annual report shall comply with the requirements of 18 Del.C. § 6907 and the provisions of this regulation.

2.2 A company that elects to file its annual report on a fiscal year basis pursuant to 18 Del.C. § 6907 (c), shall file such report no later than 60 days following the close of such fiscal year.

2.3 A company that elects to file its annual report on a fiscal year basis pursuant to 18 Del.C. § 6907 (c) shall submit, concurrently with each premium tax return required in connection with premium taxes due under 18 Del.C. § 6914, a schedule detailing the net direct written and assumed premium for the fiscal year in question.

2.4 In order to verify results reported in the company's annual report, each company shall cause its books and records to be audited annually by an independent certified public accounting firm approved in accordance with section 4.0 hereof.

2.5 In order to further verify results reported in the company's annual report, in accordance with Section 8.0 hereof each company shall cause to be prepared an opinion certifying the accuracy of the company's life, health, or annuity insurance reserves, or its loss reserves and loss expense reserves, as reported in the annual report.

18 Del. Admin. Code § 302-2.0

22 DE Reg. 862 (4/1/2019) (final)