Past midnight on July 1, 2019, the Delaware State Senate unanimously passed House Bill 242, which imposes a $2000 cap on form filing fees per insurer in the filing. HB 242 had been approved in the House the previous Thursday. The legislation will take effect upon signing by the Governor, which could take several weeks as the Secretary of the Senate sends bills to the Governor’s desk in daily batches over the course of the summer. Westmont Associates will monitor the status of this legislation.
HB 242 was the result of extensive discussions between industry representatives and the Delaware Department of Insurance, with feedback from staff at Westmont Associates. It is designed to give Delaware domiciled insurers relief from high retaliatory fee expenses in other states.
HB 242 may be viewed at the link below: