Page 14 - Delaware Department of Insurance

Dover office move accomplishes Commissioner’s cost reduction goal
When Commissioner Navarro took office, he prioritized cost efficiency. In reviewing how to reduce costs and save the state money, the team looked at their office leases. With Dover as the department’s primary location, and the lease being up on that facility soon, the team considered a move.
The final year of rent in Dover was going to be $650,000, and the 35-year-old building lacked space and needed significant renovations. Lack of parking and accommodations for individuals with disabilities reduced resident accessibility to the department’s services. Working with the Office of Management and Budget, a comprehensive needs assessment was conducted, after which the Department met with a local commercial developer.
The Department moved into a newly constructed building on July 15. The office is a 13% increase in space while being a 30% decrease in cost per square foot, while offering significantly more accessibility to the public due to the convenient location and ample parking. Under the 15-year lease, the department expects to realize almost $2 million in savings. But the savings didn’t stop there – the department moved its existing furniture and security system from the former building, saving thousands.
Visit the Delaware Department of Insurance’s new Dover office at 1351 W. North St.
Department of Insurance recovers $700,000 in fines through Company Compliance Examinations
The Delaware Department of Insurance’s Market Conduct Examinations resulted the receipt of nearly $700,000 in fines during 2019 from more than a dozen companies found to violate the Insurance Code or other related regulations. The fines are contributed to the General Fund, providing funding for state programs and services and reducing taxpayer burden.
“As the state’s largest consumer protection organization, the Department of Insurance takes company examinations very seriously. We don’t just fine a company and move on, we work to ensure that corrective action is completed to improve products and consumer experience while reducing future infractions.” said Commissioner Trinidad Navarro.
The department works to provide remediation requirements to ensure
14 | Delaware Department of Insurance
compliance with the Insurance Code and related regulations
to violations such as excessive charges, failure to distribute required notices, improper licensing, failure to pay claims in a timely fashion, and other issues impacting consumers. Over 20 exams were completed by the department in 2019, and more than 55 are open or underway.
“It’s important that we emphasize that not all companies being fined are deliberately acting in bad faith,” said Deputy Commissioner Tanisha Merced. “Many companies are unaware of their violations before our team investigates,
and act quickly to correct their actions and safeguard consumers.”
The Department’s examiners conduct investigations of organizations and agents
and participate in multi-state enforcement efforts to ensure
the consumer safety of residents nationwide. While exams are conducted regularly, the Department also examines companies based on consumer complaints. When issues are discovered through the exam process, positive correction action, fines, and suspension of licenses can occur. In 2018, the Department collected $950,000 in fines. In
some cases, where a company’s violations impacted individual customers, the Department
will require companies to compensate residents directly.
The Department’s Market Conduct Enforcement Actions and Fines
are available online as are
all complete and final Market Conduct Examination Reports.