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Current as of January 01, 2026 | Updated by Findlaw Staff
(a) A small employer carrier may apply to become a risk-assuming carrier by filing an application with the Commissioner in a form and manner prescribed by the Commissioner.
(b) The Commissioner shall consider the following factors in evaluating an application filed under subsection (a) of this section:
(1) The carrier's financial condition;
(2) The carrier's history of rating and underwriting small employer groups;
(3) The carrier's commitment to market fairly to all small employers in the State or its established geographic service area, as applicable;
(4) The carrier's experience with managing the risk of small employer groups; and
(5) The effect of approval and disapproval on the small employer insurance market and the Delaware Small Employer Health Reinsurance Program pursuant to § 7210 of this title [repealed].
(c) The Commissioner may rescind the approval granted to a risk-assuming carrier under this section if the Commissioner finds that:
(1) The carrier's financial condition will no longer support the assumption of risk from issuing coverage to small employers in compliance with § 7207 of this title without the protection afforded by the Program;
(2) The carrier has failed to market fairly to all small employers in the State or its established geographic service area, as applicable; or
(3) The carrier has failed to provide coverage to eligible small employers as required in § 7207 of this title.
(d) A small employer carrier electing to be a risk-assuming carrier shall not be subject to the provisions of § 7210 of this title [repealed].
Cite this article: FindLaw.com - Delaware Code Title 18. Insurance Code § 7209. Application to become a risk-assuming carrier - last updated January 01, 2026 | https://codes.findlaw.com/de/title-18-insurance-code/de-code-sect-18-7209/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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