Delaware § 6901 Finding; purpose

Delaware Statutes

§ 6901 — Finding; purpose

Delaware·Title 18·Part Insurance·Ch. 69 CAPTIVE INSURANCE COMPANIES·Subch. General Provisions

(a)It is determined and declared as a matter of legislative finding that captive insurance companies can serve a valuable risk management function, and that their responsible utilization and the growth of the captive insurance industry in the State of Delaware are in the best interests of this State.

(b)It is further determined and declared that the purpose and policy of this chapter shall be:

(1)To provide for the regulation of captive insurance companies consistent with their nature and purpose;

(2)To provide flexibility and opportunity to captive insurance companies and to persons utilizing them; and

(3)To foster economic development in this State through the growth of the captive insurance industry.

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(a) It is determined and declared as a matter of legislative finding that captive insurance companies can serve a valuable risk management function, and that their responsible utilization and the growth of the captive insurance industry in the State of Delaware are in the best interests of this State.

(b) It is further determined and declared that the purpose and policy of this chapter shall be:

(1) To provide for the regulation of captive insurance companies consistent with their nature and purpose;

(2) To provide flexibility and opportunity to captive insurance companies and to persons utilizing them; and

(3) To foster economic development in this State through the growth of the captive insurance industry.

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