DE| REISSUED Bulletin No. 151 reiterates that all property and casualty insurers writing business in Delaware must strictly comply with 18 Del. C. § 705 geographic premium allocation and reporting requirements, using GIS tools and updated HB 371-driven processes, to ensure accurate distribution of premium-tax-based funds to fire companies and avoid potential enforcement action for late or inaccurate filings.
Key Points:
- Mandatory use of electronic GIS tracking to allocate and report written premiums by specific Delaware jurisdictions (City of Wilmington, New Castle County outside Wilmington, Kent County, Sussex County), with “City of Wilmington” defined by four zip codes effective January 1, 2025.
- Enhanced reporting and timing rules under HB 371, including insurer reports due March 1, an extended Department deadline to report to the State Treasurer (to May 15), a single annual fire company payment, and updated State Treasurer payment and DVFA reporting requirements.
- Explicit compliance expectations, with the Department warning that failure to timely and accurately provide Section 705 information may trigger regulatory review and enforcement under 18 Del. C. §§ 329 and 520.