Key Takeaways
- The Delaware Department of Insurance regulates all insurance in the state
- The Insurance Commissioner is ELECTED by Delaware voters (one of only 11 states)
- Commissioner serves 4-year terms elected during gubernatorial election years
- Delaware insurance law is found in Title 18 of the Delaware Code
- Vacancies are filled by the Governor until the next general election
Delaware Department of Insurance
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Delaware regulates insurance through the Delaware Department of Insurance under the leadership of an elected Insurance Commissioner.
Delaware Insurance Commissioner
The Delaware Insurance Commissioner is unique because:
- ELECTED by Delaware voters (not appointed)
- One of only 11 states with an elected insurance commissioner
- Serves a 4-year term during gubernatorial election years
- Partisan election (candidates run with party affiliation)
- Vacancies filled by Governor until next general election
Commissioner Selection
| Requirement | Details |
|---|---|
| Selection | Elected by voters |
| Term | 4 years |
| Election Timing | Gubernatorial election years |
| Party Affiliation | Partisan election |
| Vacancy | Governor appoints until next election |
Exam Tip: Remember that Delaware's Insurance Commissioner is ELECTED, not appointed. Delaware is one of only 11 states with an elected commissioner, along with California, Georgia, Kansas, Louisiana, Mississippi, Montana, North Carolina, North Dakota, Oklahoma, and Washington.
Delaware Department of Insurance Functions
The Delaware Department of Insurance is responsible for:
| Function | Description |
|---|---|
| Insurer Regulation | Licensing and monitoring insurance companies |
| Producer Licensing | Issuing and renewing agent licenses |
| Rate Review | Reviewing and approving insurance rates |
| Consumer Protection | Handling complaints and investigations |
| Market Conduct | Examining insurer practices |
| Financial Oversight | Monitoring insurer solvency |
| Captive Insurance | Delaware is a leading domicile for captives |
Department Divisions
- Producer Licensing - Agent licensing and continuing education
- Life and Health - Life and health insurer regulation
- Property and Casualty - P&C insurer regulation
- Financial Surveillance - Solvency monitoring
- Consumer Services - Consumer complaints and inquiries
- Captive Bureau - Captive insurance regulation
Delaware Insurance Code
Delaware insurance law is contained in Title 18 of the Delaware Code:
Key Chapters
| Chapter | Subject |
|---|---|
| Chapter 1 | Insurance Department |
| Chapter 17 | Insurance Agents and Brokers |
| Chapter 29 | Life Insurance |
| Chapter 33 | Accident and Health Insurance |
Contact Information
- Address: 1351 W. North Street, Suite 101, Dover, DE 19904
- Phone: (302) 674-7300
- Producer Licensing: (302) 674-7390
- Website: insurance.delaware.gov
- Email: consumer@delaware.gov
How is the Delaware Insurance Commissioner selected?
Which title of the Delaware Code contains insurance law?
What happens if the Delaware Insurance Commissioner position becomes vacant?