Delaware § 5303 Insuring powers

Delaware Statutes

§ 5303 — Insuring powers

Delaware § 5303

Title18

PartInsurance

Ch. 53MUTUAL ASSESSMENT PROPERTY INSURERS

This text of Delaware § 5303 (Insuring powers) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 18, § 5303 (2026).

Text

(a)Such insurers shall have power to insure only real property and personal property incidental to such real property against the perils of fire, lightning and windstorm, together with perils customarily included under extended coverages.

(b)The maximum amount of insurance which the insurer shall retain on any 1 subject of insurance, after deduction of applicable reinsurance, shall not exceed 10% of its admitted assets or $5,000, whichever is the larger amount. For the purposes of this subsection a “subject of insurance” shall have the meaning ascribed in § 909 (limits of risk) of this title.

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(a) Such insurers shall have power to insure only real property and personal property incidental to such real property against the perils of fire, lightning and windstorm, together with perils customarily included under extended coverages.

(b) The maximum amount of insurance which the insurer shall retain on any 1 subject of insurance, after deduction of applicable reinsurance, shall not exceed 10% of its admitted assets or $5,000, whichever is the larger amount. For the purposes of this subsection a “subject of insurance” shall have the meaning ascribed in § 909 (limits of risk) of this title.