Delaware Insurance Department

Did you know…

The Department of Insurance operates with zero taxpayer money.
The Department of Insurance in this fiscal year will transfer about $55.2 million into the General Fund.
The Department of Insurance in this fiscal year will transfer about $31.1 million into the Fire, Ambulance & Police Pension Fund.
In 2010, the Department introduced a consumer protection bill that was signed into law by the Governor which requires companies that market discount medical programs to be licensed by the state before they can market their product to Delawareans.
The average department employee has worked 12.4 years for the State.
Delawareans can stay current with insurance news by subscribing (free) to the department’s e-newsletter service.  Follow the link on www.delawareinsurance.gov to “Insurance Matters”.
Department staff strives for a same day response to new consumer inquiries and often return the call within 4 hours of the initial contact!
Our consumer staff recovered more than $2 million in 2010 for consumers locked in disputes with insurance companies.
We have video conferencing in our Dover office to save time and conserve resources.
Our BERG staff managed the critical analysis associated with MetLife’s $15.5 billion takeover of ALICO.
Each year, the Commissioner and staff participate in dozens of community events to inform, answer questions and solve consumer problems such as Separation Day in New Castle County, Dover Days in Kent County, and Apple Scrapple Festival in Sussex County.
A “Captive” is a privately held insurance company that issues policies just like a commercial carrier but does not offer insurance to the public.
The Commissioner and Deputy Commissioner have nearly 50 years of combined insurance expertise.
Our fraud staff helped to break up a suspected illegal prescription drug operation in 2010.
Our BERG staff has consistently maintained the Department’s professional certification for 18 years running.
The department is in the closing phase of its first comprehensive financial audit in years.
Delaware will host the NAIC’s Northeast Regional Meeting in Spring of 2011.
DOI staff has been appointed to vital roles on state and national federal health care advisory committees.
Our Workplace Safety Unit saved Delaware businesses more than $8 million in 2010!
Many department staff are members of professional regulatory associations such as the:  Insurance Regulatory Examiners Society; Association of Insurance Compliance Professionals; Society of Financial Examiners; and the Securities and Insurance Licensing Association.
The term COLI means corporate-owned life insurance.  The term BOLI means bank-owned life insurance.
Surplus Lines or non-admitted market exists to help fill insurance gaps by picking up those distressed, unique or high capacity risks that are unacceptable to admitted carriers.
Commissioner Karen Weldin Stewart is available to visit your civic group, retirement home, maintenance organization, etc. To schedule a visit, please call Lori Harrison at (302) 674-7305.