18 Del. Admin. Code § 2103-7.0

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

Section 2103-7.0 - Excess Insurance Pools

7.1 The Commissioner has prepared the Bylaws of the Excess Insurance Fund dated November 6, 1992 ("Excess Bylaws"). Each participating Joint Insurance Fund has, by resolution, adopted the Excess Bylaws. The Excess Bylaws are hereby adopted, and the Directors of the Excess Insurance Fund are hereby granted the powers and authority conferred on them by the Excess Bylaws. This Regulation by the Insurance Department exercises the powers conferred by 18 Del.C. § 406(c)(1).

7.2 The Insurance Department hereby grants the Directors the power to invest the funds, including worker's compensation funds, utilizing prudent casualty and surety insurance company investment practices.

7.3 The Insurance Commissioner hereby approves the Bylaws and Plan of Risk Management concurrently filed by the Directors of the Excess Insurance Fund pursuant to 18 Del.C. § 406(f)(1).

7.4 The Directors of the Excess Insurance Fund are subject to and shall operate in compliance with the provisions of the present and future regulations of the Delaware Insurance Department.

18 Del. Admin. Code § 2103-7.0