2 Del. Admin. Code § 2270-1.0

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

Section 2270-1.0

Any person in whose name more than 15 motor vehicles are registered in Delaware may qualify as a self insurer pursuant to 21 Del.C. § 2904 by doing the following:

1.1 Each year the self insurer would forward to the Division a certified letter that no judgment resulting from the operation of a motor vehicle remained unsatisfied for more than 30 days.

1.2 The self insurer would forward to the Division each year a financial statement accompanied by an opinion letter from the self-insurer's accountant that the self insurer could satisfy a 1.5 million dollar judgment as a result of the operation of a motor vehicle without, as a result, the self insurer's liabilities exceeding its assets.

1.3 The Division be notified of any judgment or settlement exceeding $250,000 obtained or agreed to by a self insurer

2 Del. Admin. Code § 2270-1.0