18 Del. Admin. Code § 1901-2.0

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

Section 1901-2.0 - Authority

2.1 This Regulation is adopted pursuant to 18 Del.C. § 314, and promulgated in accordance with the procedures specified in the Administrative Procedures Act, 29 Del.C. Ch. 64. 18 Del.C. § 2509 of the Insurance Code states that "upon the written application of the insured stating his reasons therefor, filed with and approved by the Commissioner, a rate in excess of that provided by a filing otherwise applicable may be used on any specific risk."

2.2 Agents and brokers have an obligation under 18 Del.C. § 1717, "Duties of licensed insurance personnel," in the conduct of their business "to insure that each transaction undertaken will, to the extent of the licensee's capabilities, meet the needs of the insurance-buying public."