Delaware Life and Health Insurance Guaranty Association Act

What this document is

Delaware Code Title 18 Chapter 44 - Delaware Life and Health Insurance Guaranty Association Act (Secs. 4401-4420) is a state statute published by Delaware Code Online (delcode.delaware.gov), Delaware General Assembly. It is one of the Delaware documents that insurance license exam questions are written from, including delaware life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• 18 Del. C. Chapter 44 § 4409(i) (Assessments: protest procedure)

  “A member insurer that wishes to protest all or part of an assessment shall pay when due the full amount of the assessment as set forth in the notice provided by the Association. The payment shall be available to meet Association obligations during the pendency of the protest or any subsequent...”

• 18 Del. C. Chapter 44 § 4408(l)(6) (Powers and duties of the Association)

  “Exercise, for the purposes of this chapter and to the extent approved by the Commissioner, the powers of a domestic life insurer, health insurer, managed care organization, or health maintenance organization; but in no case may the Association issue policies or contracts other than those issued to...”

• 18 Del. C. Chapter 44 § 4403(c) (Coverage and Limitations: Benefit Limits)

  “The benefits that the Association may become obligated to cover shall in no event exceed the lesser of the following: (1) The contractual obligations for which the member insurer is liable or would have been liable if it were not an impaired or insolvent insurer;”

• 18 Del. C. Chapter 44 § 4407(c) (Board of Directors: expenses and compensation)

  “Members of the Board may be reimbursed from the assets of the Association for expenses incurred by them as members of the Board of Directors but members of the Board shall not otherwise be compensated by the Association for their services.”

• 18 Del. C. Chapter 44 § 4403(a)(6) (Duplicate Coverage)

  “In order to avoid duplicate coverage, if a person who would otherwise receive coverage under this chapter is provided coverage under the laws of any other state, the person shall not be provided coverage under this chapter.”

• 18 Del. C. Chapter 44 § 4419 (Advertising)

  “No person, including a member insurer, agent or affiliate of a member insurer shall make, publish, disseminate, circulate, or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in any newspaper, magazine, or other...”

• 18 Del. C. Chapter 44 § 4406 (Guaranty Association: Created; accounts; supervision)

  “All member insurers shall be and remain members of the Association as a condition of their authority to transact insurance, managed care organization, or health maintenance organization business in this State.”

• 18 Del. C. Chapter 44 § 4402 (Purpose)

  “The purpose of this chapter is to protect, subject to certain limitations, the persons specified in § 4403(a) of this title against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in § 4403(b) of this title, because of...”

• 18 Del. C. Chapter 44 § 4412(5) (Detection and prevention of insolvencies: Board requested examination)

  “The Board of Directors may, upon majority vote, request that the Commissioner order an examination of any member insurer which the Board in good faith believes may be an impaired or insolvent member insurer. Within 30 days of the receipt of such request, the Commissioner shall begin such...”

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More Delaware sources

• Del. Code tit. 18, ch. 29: Life insurance contracts - standard policy provisionsState statute
• Delaware Code Title 18, Ch. 017 - Licensing of Professional Insurance PersonnelState statute
• Delaware Code Title 18, Ch. 023 - Unfair Practices in the Insurance BusinessState statute
• Delaware Code Title 18, Ch. 29 - Life Insurance and Annuity ContractsState statute
• Delaware Code Title 18, Ch. 031 - Life Insurance ContractsState statute
• Delaware Code Title 18, Ch. 035 - Group and Blanket Health InsuranceState statute
• Delaware Code Title 18 Chapter 17 - Licensing of Professional Insurance Personnel (Secs. 1701-1724)State statute
• Delaware Code Title 18 Chapter 17A - Licensing of Public Adjusters (Secs. 1750-1761)State statute