Is direct procurement by an insured permissible in Delaware?
Delaware law is silent regarding self- or independent- procurement of insurance covering risks located or to be performed in the state of Delaware from unauthorized insurance companies. However, it is the Delaware Insurance Department’s policy to treat self-procured insurance in the same manner as surplus lines insurance as set forth in Title 18 Chapter 19. There is a premium tax of 2% imposed on the “proportion of the premium which is properly allocable to the risks or exposures located in this State.
Delaware law is silent regarding self- or independent- procurement of insurance covering risks located or to be performed in the state of Delaware from unauthorized insurance companies. However, it is the Delaware Insurance Department’s policy to treat self-procured insurance in the same manner as surplus lines insurance as set forth in Title 18 Chapter 19.
