Difference between revisions of "Delaware Insurance Commissioner"
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The Insurance Commissioner's Office consists of five major divisions:<ref name="About">[http://delawareinsurance.gov/aboutagency.shtml ‘'Delaware Insurance Commissioner and Department Of Insurance,'' “About the Agency,”
The Insurance Commissioner's Office consists of five major divisions:<ref name="About">[http://delawareinsurance.gov/aboutagency.shtml ‘'Delaware Insurance Commissioner and Department Of Insurance,'' “About the Agency,” April 23, 2011]</ref>
===<u>Bureau of Captive and Financial Insurance Products</u>===
===<u>Bureau of Captive and Financial Insurance Products</u>===
Revision as of 07:40, 14 July 2014
|Delaware Insurance Commissioner|
|Office website:||Official Link|
|2013 FY Budget:||$24,049,600|
|Length of term:||4 years|
|Authority:||Delaware Constitution, Article III, Section 21|
|Name:||Karen Weldin Stewart|
|Assumed office:||January 2009|
|Next election:||November 2016|
|Last election:||November 6, 2012|
|Other Delaware Executive Offices|
|Governor•Lieutenant Governor•Secretary of State•Attorney General•Treasurer•Auditor•Secretary of Education•Agriculture Secretary•Insurance Commissioner•Natural Resources Secretary•Labor Secretary•Public Service Commission|
- 1 Current officeholder
- 2 Authority
- 3 Qualifications
- 4 Elections
- 5 Vacancies
- 6 Duties
- 7 Divisions
- 8 State budget
- 9 Compensation
- 10 Historical officeholders
- 11 Recent news
- 12 Contact information
- 13 See also
- 14 External links
- 15 References
Before becoming commissioner, Stewart was a vice president with Reinsurance Solutions International, a position she had held since 1997. She owned and operated Weldin Group, Inc., an insurance and reinsurance consulting agency, from 1993 to 1997, and worked as a deputy receiver in the Delaware Insurance Department from 1989 to 1993. Stewart is a co-founder of the International Association of Insurance Receivers, and has served three times as its president. She currently serves as a regulatory coordinator with the National Association of Insurance Commissioners.
|The terms of the office of the Attorney General, the Insurance Commissioner, the Auditor of Accounts and the State Treasurer shall be four years. These officers shall be chosen by the qualified electors of the State at general elections, and be commissioned by the Governor....|
There are no special qualifications for the office of insurance commissioner.
Delaware elects insurance commissioners to four-year terms during gubernatorial election years. 2004, 2008, 2012, and 2016 are all insurance commissioner election years. Insurance commissioner elections are partisan, unlike some other down-ballot elected positions.
Incumbent Karen Weldin Stewart defeated challengers Benjamin Mobley (R) and David R. Eisenhour (L) in the November 6, 2012 general election. On October 24, 2012 Eisenhour suspended his campaign, announcing instead that he would run for clerk of the peace in Sussex County.
|Delaware Insurance Commissioner General Election, 2012|
|Democratic||Karen Weldin Stewart Incumbent||61.1%||233,354|
|Libertarian||David R. Eisenhour||2.1%||7,838|
|Election Results via Delaware State Board of Elections.|
There are no term limits for the office of insurance commissioner.
Details of vacancy appointments are addressed under Article III, Section 9. If a vacancy occurs in the position of insurance commissioner, the governor has the power to fill the vacancy until a successor is elected.
The insurance commissioner is administrative head of the Delaware Department of Insurance, the agency responsible for regulating and supervising the operations of the state's insurance industry. Besides its regulatory duties, the Department of Insurance investigates insurance fraud complaints, provides consumers with consulting services and arbitrates disputes between companies and consumers.
The Insurance Commissioner's Office consists of five major divisions:
Bureau of Captive and Financial Insurance Products
- The Bureau of Captive and Financial Insurance Products is responsible for the following:
- Regulates captive insurance companies consistent with their nature and purpose;
- Provides flexibility and opportunity to captive insurance companies and to persons utilizing them; and
- Fosters economic development in this State through the growth of the captive insurance industry.
|Contact Captive and Financial Insurance Products|
Bureau of Company Examination, Rehabilitation and Guaranty
- The Bureau of Company Examination, Rehabilitation and Guaranty (BERG) is responsible for the following:
- Reviews applications to do business in Delaware
- Monitors the financial operations of the 1,500 foreign and 150 domestic insurers licensed in Delaware
- Monitors the market conduct of insurers operating in Delaware
- Approves or contests their rate filing
- Rehabilitates or liquidates financially impaired insurers
|Contact Company Examination, Rehabilitation and Guaranty|
Consumer Services and Investigations Division
- Provides information on how to make decisions that can lower the cost of insurance and increase the value the consumer receives.
- Assists consumers in resolving conflicts with insurance companies, health coverage providers, and agents.
- Provides arbitration hearings as a low-cost alternative to civil litigation to resolve disputed consumer claims.
- Investigates concerns regarding all types of insurance and utilizes consumer input to review market trends, statute and rule violations, and to develop changes to the insurance law.
|Contact Consumer Services and Investigations|
Fraud Prevention Bureau
- Investigates property and casualty, auto, life, health, workers compensation, provider and agent insurance fraud.
- Provides a focal point for the anti-fraud efforts of insurance company investigators, law enforcement agencies, and prosecutors to achieve a cooperative and coordinated approach to the detection, investigation, and prosecution of insurance fraud.
|Contact Fraud Prevention Unit|
Producer Licensing and Continuing Education Division
- The Producer Licensing and Continuing Education Divisionis responsible for the following:
- Develops and administers tests for entry into the field
- Maintains permanent records on the 33,000 insurance professionals
- Administers the Continuing Education Program
- Provides consumers information about licensing status of a producer
|Contact Producer Licensing and Continuing Education|
The budget for the Insurance Commissioner's Office in the Fiscal Year 2013 was $24,049,600.
- See also: Compensation of state executive officers
Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders. That information for the Delaware Insurance Commissioner has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.
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841 Silver Lake Blvd.
Dover, DE 19904
Carvel State Office Building, 5th Floor
820 N. French St.
Wilmington, DE 19801
- ‘'Delaware Insurance Commissioner and Department Of Insurance, “About the Agency,” accessed April 23, 2011
- Delaware Department of Insurance, "Meet Karen Weldin Stewart," accessed August 15, 2011
- The Republic, "Libertarian suspends campaign for Delaware insurance commissioner, endorses GOP candidate" accessed October 24, 2012
- Delaware Department of Insurance, "About the Agency," accessed August 15, 2011
- Delaware Office of Management and Budget," Budget Development, Planning and Administration - Fiscal Year 2013 Operating and Capital Budget Information," accessed May 28, 2013
- The Council of State Governments,"The Book of States 2010 Table 4.11," accessed April 23, 2011