(a) (1) Every insurance company receiving premiums for covering risks of loss on any real or personal property within the limits of this State from fire, other allied lines, homeowners multiple peril, commercial multiple peril (nonliability portion), multiple peril crop, farmowners multiple peril, federal flood, ocean marine, inland marine, earthquake, private passenger automobile physical damage, commercial automobile physical damage and aircraft (all perils) shall annually, at the same time that the insurance company files the insurance company’s annual report as required by law, deliver to the Insurance Commissioner a full detailed statement of the amount of gross premiums of all such business done by the insurance company in the City of Wilmington, in the County of New Castle outside the City of Wilmington, in Kent County, and in Sussex County, less return and reinsurance premiums received from other companies or by any agent or agents of the insurance company, in cash or otherwise, for the year ending on the previous December 31.
(2) For purposes of this section, “City of Wilmington” means the area consisting of zip codes 19801, 19802, 19805, and 19806.
(3) The insurance company must include in its statement an allocation of the portion of the gross premiums coverage allocable to the City of Wilmington, the County of New Castle outside the City of Wilmington, Kent County, and Sussex County.
(4) The statement must be verified by the oath or affirmation of the insurance company’s president or vice-president and secretary or other officer, and the statement must be on a form prepared and furnished by the Insurance Commissioner for that purpose.
(5) The Insurance Commissioner may request and receive additional information regarding any insurance company’s business of covering the types of risks of loss stated in paragraph (a)(1) of this section. Failure to give the Insurance Commissioner the requested information is good cause, under § 520 of this title, for revocation of any certificate of authority of any insurance company so ignoring the request.
(b) The Insurance Commissioner shall ascertain and report to the State Treasurer, on or before May 15 of each year, the following information:
(1) The information contained in the statements under paragraph (a)(1) of this section and such other information as the Insurance Commissioner has obtained from the insurance companies under subsection (a) of this section.
(2) The proportions in which the sum described in subsection (c) of this section is to be allocated among, and the actual amounts due to, the Treasurer of the City of Wilmington and to the member fire companies or departments of this State. The allocations and amounts must be calculated as follows:
a. The sum of the premiums attributable to the City of Wilmington is to be allocated to the Treasurer of the City of Wilmington.
b. The sum of the premiums attributable to the County of New Castle, outside the City of Wilmington, is to be divided and allocated equally among the fire companies or departments in the County of New Castle outside of the City of Wilmington.
c. The sum of the premiums attributable to Kent County is to be divided and allocated equally among the fire companies or departments in Kent County.
d. The sum of the premiums attributable to Sussex County is to be divided and allocated equally among the fire companies or departments in Sussex County.
(c) (1) After receipt of the report under subsection (b) of this section, and not later than July 15 of each year, the State Treasurer shall pay, in the proportions stated in paragraph (b)(2) of this section, the total sum in the special fund established under paragraph (c)(2) of this section to the Treasurer of the City of Wilmington and to the fire companies or departments of this State.
(2) The special fund is to consist of a sum equivalent to 3¾% of all the premiums obtained for writing in Delaware during the preceding year the types of coverage stated in paragraph (a)(1) of this section. Payments to the special fund are to be made out of taxes deposited with the State Treasurer by the Insurance Commissioner, not including those funds received under § 707 of this title.
(d) Payments made from the special fund under paragraph (c)(1) of this section are to be used as follows:
(1) For the City of Wilmington, for the Firemen’s Pension Fund of the Bureau of Fire in the City of Wilmington.
(2) For the County of New Castle outside the City of Wilmington, Kent County, and Sussex County, for assisting and maintaining the fire companies or departments in each of these areas.
(e) The Delaware Volunteer Firefighter’s Association shall annually submit to the Insurance Commissioner and the State Fire Prevention Commission a report giving their location, apparatus and equipment maintained for its member fire companies or departments.
(f) All future rate filings covering the types of coverage described in subsection (a) of this section within this State shall make allowance for no more than 2% premium tax, unless the premium tax shall be changed after January 1, 2025, in which case the insurance companies may make allowance in the rate filings for no more than the then effective premium tax.
(g) (1) On or before May 15 of each year, the Insurance Commissioner shall ascertain and report to the State Treasurer, based on information contained in statements filed under this section, the amount which equals 0.08% of the amount reflected in the statements as to the total premium obtained during the preceding calendar year for writing in Delaware the types of coverage stated in subsection (a) of this section.
(2) After receipt of the report under paragraph (g)(1) of this section, the State Treasurer shall pay the reported amount to the State Insurance Coverage Office for purposes of funding the premium payment required to be paid by the State Insurance Coverage Office under § 6707B of this title.
(3) Payments to the State Insurance Coverage Office under this section are to be paid out of taxes deposited with the State Treasurer by the Insurance Commissioner, not including those funds received under § 707 of this title.