Licensing Requirements: Surplus lines brokers are required to be licensed under Delaware law. Del. Code Ann. tit. 18 § 1920. Any person licensed in Delaware as a producer for general
Does the state impose a fiduciary obligation on producers with respect to the handling of client funds (e.g. funds, monies, premiums and return premiums)? Yes. All premiums, return premiums, or other
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Delaware does not permit producers to charge fees in
Currently, Delaware has no state laws or regulations pertaining to Producer’s Compensation Disclosure.
Insurance-specific provisions: The Delaware Department of Insurance requests that it be informed of any suspected unauthorized data release of consumer’s information (even if inadvertent) within 24 hours. Bulletin 3. What entities