Page 12 - Delaware Department of Insurance

Bureau of Examination, Rehabilitation, and Guaranty
The Bureau of Examination, Rehabilitation, and Guaranty, known within the department as “BERG,” protects and preserves the interests
of policyholders, claimants and the Delaware insurance-buying public
by ensuring that insurance companies that are incorporated in or authorized to do business in Delaware are financially stable enough to
pay their claims.
This is the process of regulating financial solvency, which includes placing improvement requirements on companies or fining them if needed. Their work preserves
a healthy, competitive market, while protecting the public.
In addition, the bureau is tasked with ensuring reliable insurance coverage at reasonable rates for Delaware consumers by:
• Reviewing applications to do business in Delaware
• Monitoring the financial operations of the 1,800 foreign and 150 domestic insurers licensed
in Delaware
• Monitoring the market conduct of insurers operating in Delaware
• Rehabilitating or liquidating financially impaired insurers
At the last complete count,
140 insurance companies were incorporated in Delaware, with assets totaling $605.1 billion. An additional 1,800 insurers are doing business in the state.
Analysts in the department completed 26 financial exams on these companies last year and reviewed
an additional 750 miscellaneous projects and submissions.
The BERG team is accredited by the National Association of Insurance Commissioners (NAIC), cumulatively completing 485 hours of training over the past year while also working with the organization to develop solvency- related model laws, regulations,
policies and procedures. Through this participation, Delaware’s BERG program serves as an example nationwide.
As of Dec. 31, 2019, 139 companies choose to domicile in Delaware and
an additional 1,800 foreign insurers are doing business in the State
In 2019 BERG completed 26 financial exams and reviewed
an additional 750 miscellaneous projects/form submissions
The total assets of Delaware domiciled insurers totaled
$605.1 billion as of 12/31/18
Over 450 hours of training have been completed by
BERG financial analysts over the past year
12 | Delaware Department of Insurance