DE HB379 | 2013-2014 | 147th General Assembly

Status

Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on September 4 2014 - 100% progression
Action: 2014-09-04 - Signed by Governor
Text: Latest bill text (Engrossed) [HTML]

Summary

This bill modernizes the regulatory structure in Delaware for travel insurance to be in line with other states and the way that travel insurance is currently developed, marketed, and sold in the US. This will lead to more uniformity, which benefits producers, retailers, and consumers of travel insurance. This legislation is adapted for Delaware from National Association of Insurance Commissioners (NAIC) and National Conference of Insurance Legislators (NCOIL) models. Travel insurance retailers present a unique challenge to the multi-state licensing of insurance producers. Due to these challenges, the NAIC and the NCOIL have both taken steps to provide a workable solution to resolve the problems and regulatory inconsistencies for travel insurance providers and travel retailers. The NAIC adopted Uniform Licensing Standards (“ULS”) in late 2010, and, in November 2012, NCOIL adopted a model act that would accomplish the same goals as the ULS. Both versions place most of the regulatory burden on the insurer or managing general agent who develop and distribute the product, NOT the retail travel agent. Legislation based on these models has been adopted in 26 states over the last two years. Legislation will be introduced in the remaining states in the next year.

Tracking Information

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Title

An Act To Amend Title 18 Of The Delaware Code Relating To The Licensing And Regulation Of Limited Lines Travel Insurance Producers.

Sponsors


Roll Calls

2014-06-30 - Senate - Senate Third Reading (Y: 21 N: 0 NV: 0 Abs: 0) [PASS]
2014-06-17 - House - House Third Reading (Y: 39 N: 0 NV: 1 Abs: 1) [PASS]

History

DateChamberAction
2014-09-04HouseSigned by Governor
2014-06-30SenatePassed by Senate. Votes: Passed 21 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT
2014-06-26SenateReported Out of Committee (INSURANCE) in Senate with 5 On Its Merits
2014-06-18SenateAssigned to Insurance Committee in Senate
2014-06-17HousePassed by House of Representatives. Votes: Passed 39 YES 0 NO 1 NOT VOTING 1 ABSENT 0 VACANT
2014-06-17HouseAmendment HA 1 - Passed in House by Voice Vote
2014-06-17HouseAmendment HA 1 - Introduced in House
2014-06-11HouseReported Out of Committee (ECONOMIC DEVELOPMENT/BANKING/INSURANCE/COMMERCE) in House with 11 On Its Merits
2014-06-04HouseIntroduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House

Delaware State Sources


Bill Comments

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