§ 8312. Severability [For applicability of this section, see 81 Del. Laws, c. 108, § 3].
§ 8312. Severability [For applicability of this section, see 81 Del. Laws, c. 108, § 3]. If any section, paragraph, sentence, clause, phrase, or any part of this chapter is declared invalid due to an interpretation of or a future change in the federal Fair Credit Reporting Act [15 U.S.C. § 1681 et seq.], the remaining […]
§ 8401. Short title.
§ 8401. Short title. This chapter may be cited as the “Risk Management and Own Risk and Solvency Assessment (ORSA) Act.” 79 Del. Laws, c. 422, § 1;
§ 8402. Purpose and scope.
§ 8402. Purpose and scope. The purpose of this chapter is to provide the requirements for maintaining a risk management framework and completing an own risk and solvency assessment (ORSA) and provide guidance and instructions for filing an ORSA summary report with the Insurance Commissioner of this State. The requirements of this chapter shall apply […]
§ 8403. Definitions.
§ 8403. Definitions. As used in this chapter, unless the context requires otherwise: (1) “Insurance group.” — For the purpose of conducting an ORSA, the term “insurance group” shall mean those insurers and affiliates included within an insurance holding company system as defined in Chapter 50 of this title. (2) “Insurer.” — The term “insurer” […]
§ 8404. Risk management framework.
§ 8404. Risk management framework. An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations […]
§ 8405. ORSA requirement.
§ 8405. ORSA requirement. Subject to § 8407 of this title, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an ORSA consistent with a process comparable to the ORSA Guidance Manual. The ORSA shall be conducted no less than annually but also at any time when there […]
§ 7715. Application of chapter.
§ 7715. Application of chapter. Every provision in this chapter giving a right or remedy to, or imposing a duty upon, or referring to the act of a debtor, obligor, assignor or transferor, or a surety, obligee, assignee or transferee, creditor, or other person shall be construed to extend to or against his or her […]
§ 8302. Scope [For applicability of this section, see 81 Del. Laws, c. 108, § 3].
§ 8302. Scope [For applicability of this section, see 81 Del. Laws, c. 108, § 3]. This chapter applies to all policies of automobile, motorcycle, boat and personal watercraft, recreational vehicle, homeowners, mobile-homeowners, manufactured homeowners insurance, and noncommercial dwelling fire insurance issued by an insurer for personal or family protection. 76 Del. Laws, c. 175, […]
§ 7716. Remedies of codebtor or cosurety.
§ 7716. Remedies of codebtor or cosurety. (a) Whenever 1 or more of several codebtors or cosureties for the payment of a debt shall pay or shall have paid to the creditor or creditors the sum due, including the costs, if any, that may have been incurred by them, the person or persons so paying, […]
§ 8303. Definitions [For applicability of this section, see 81 Del. Laws, c. 108, § 3].
§ 8303. Definitions [For applicability of this section, see 81 Del. Laws, c. 108, § 3]. As used in this chapter: (1) “Adverse action” means a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of, any insurance, […]