Page 81 - Innovation Delaware 2021

2020
DELAWARE DEPARTMENT OF INSURANCE
YEAR IN REVIEW
“Despite facing challenges including the COVID-19 pandemic and natural disasters, our team showed resolved and resillience in serving the residents of our great state.”
-Insurance Commissioner Trinidad Navarro
OUR TEAM
92 FULL TIME EMPLOYEES, INCLUDING 11 NEW TEAM MEMBERS, 4 PART TIME EMPLOYEES, &
7 INTERNAL PROMOTIONS IN 2020
CONSUMER SERVICES
MANAGED 3,360 INQUIRIES AND COMPLAINTS $941K RECOVERED FOR POLICY HOLDERS
COVID-19 RESPONSE
COVID AND INSURANCE WEBPAGE CREATED 13 INFORMATIONAL UPDATES AND BULLETINS TEMPORARY POLICY CANCELLATION MORATORIUM SUPPORTED EXPANSION OF TELEMEDICINE $1.5M RETURNED/SAVED
IN AUTO PREMIUMS FROM 30 INSURERS OFFERING REBATES, REFUNDS, DISCOUNTS FOR REDUCED DRIVING CORONAVIRUS ANTI-FRAUD COALITION MEMBER MEMBER OF VACCINE COMMITTEE
CAPTIVES CONTRIBUTE $3.9 MILLION TO STATE IN FY20
$21.5 MILLION IN HEALTH
PREMIUMS RETURNED
TO INDIVIDUALS AND
SMALL BUSINESSES
2,779 BUSINESSES AND 19,273 INSURANCE MARKETPLACE PLAN PARTICIPANTS
MEDICARE
ASSISTANCE BUREAU
5,118 COUNSELING SESSIONS $287K SAVED FOR RESIDENTS $275 IN GRANTS EARNED NEW VIRTUAL COUNSELING AND EVENTS
OFFICE OF VALUE-BASED HEALTHCARE DELIVERY ANNUAL REPORT RELEASED
SPECIAL COMMITTEE AND SESSION ON RACE AND INSURANCE
FRAUD PREVENTION
545 TOTAL CASES JOINED HEALTHCARE FRAUD PREVENTION PARTNERSHIP
ARBITRATION
$702K EARNED FOR
RESIDENTS 511 TOTAL CASES 302 SETTLEMENTS
CAPTIVES
793 ACTIVE CAPTIVES, 70 NEW CAPTIVES 67 CONDITIONAL LICENSES, FINALIST FOR INTERNATIONAL CAPTIVE INSURANCE DOMICILE OF THE YEAR
TORNADO RESPONSE
SITE VISITS TO IMPACTED AREAS, BULLETIN ISSUED, 7,144 INSURANCE CLAIMS SUBMITTED, $10M IN DAMAGE ESTIMATED
MENTAL HEALTH PARITY
2 HEALTH INSURER EXAMS COMPLETED $597K IN PENALTIES ASSESSED
INSURANCE MARKETPLACE
2ND-EVER RATE DECREASE,
25,260 ENROLLEES FOR 2021 PLAN YEAR
12 HEALTH PLANS AND 11 DENTAL PLANS OFFERED
136 DOMESTIC COMPANIES $649B IN ASSETS, 1,523 ADDITIONAL COMPANIES DOING BUSINESS IN DELAWARE
5% INCREASE IN ENROLLMENT FOR 2021 INSURANCE MARKETPLACE PLANS
COMPANIES FINED $1.1M IN MARKET CONDUCT EXAMS
12 MARKET CONDUCT EXAMINATIONS COMPLETED 1 MULTI-STATE EXAMINATION
WORKERS’ COMP
APPROVED 4TH CONSECUTIVE RATE DECREASE 11.56% REDUCTION IN 2021 LOSS COSTS
8.8% DECREASE APPROVED FOR RESIDUAL MARKET $4M IN PREMIUM SAVED IN 2020
WORKPLACE SAFETY
1,083 COMPANIES PARTICIPATING, $66M TOTAL PREMIUM, $7M PREMIUM SAVINGS, 19% DISCOUNT, POSSIBLE FOR PARTICIPATING COMPANIES
EARNED ACCREDITATION FROM THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS
LEGAL
16 BULLETINS ISSUED 6 REGULATIONS ISSUED TWO INTERNAL PROMOTIONS
LICENSES
220.977 TOTAL ACTIVE RESIDENT AND NONRESIDENT LICENSES 37,884 NEW LICENSES ISSUED IN 2020
RATES AND FORMS 1,251 LIFE AND
HEALTH 27,258 PROPERTY AND CASUALTY
BUREAU OF EXAMINATION, REHABILITATION, AND GUARANTY 55 TOTAL EXAMS OF INSURERS
COMPLETED
56 EXAMS IN PROGRESS
$1.45M RETURNED BY LIFE POLICY LOCATOR FROM 501 REQUESTS
CONTACT US: INSURANCE.DELAWARE.GOV | CONSUMER@DELAWARE.GOV (302) 674-7300