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Delaware Department of Insurance issues bulletin to insurance companies and licensed insurance producers
On April 3, the Delaware Department of Insurance issued Bulletin No. 117/33 to insurance companies authorized to transact business in Delaware and licensed insurance producers regarding compliance with regulatory requirements during Covid-19. Insurers are reminded that, without a court order, they may not suspend, cancel or refuse to renew certain defined policies due to nonpayment during the governor’s declared state of emergency. Among other things, the bulletin also: temporarily suspends notarization requirements for documents required to be filed under Title 18, relaxes requirements for in-person appraisals/inspections, suspends any on-site examination work that is non-essential or contrary to directives to limit gatherings, suspends administrative hearings and notes that the department will not schedule any arbitrations that are nonessential or contrary to directives to limit gatherings or practice social distancing or isolation, and provides additional information regarding regulatory filing deadlines, response deadlines, and requests for extensions.
Delaware issues stay at home order
On March 22, the Delaware governor issued an order to close all non-essential businesses. The order went into effect at 8:00 AM and remains in effect until May 15, or until “the public threat is eliminated.” Businesses that provide certain financial activities are considered essential businesses that may remain open. For example, monetary authorities and businesses engaged in credit intermediation and related activities, securities commodity contracts, and other financial investment and related activities, insurance carriers and related activities, and funds, trusts, and other financial activities may remain open. An FAQ was also issued to address questions regarding non-essential closures.