HB 18 — Fiscal Note/Fee Impact

… K. Williams DESCRIPTION: AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO LICENSING FEES AND DEPARTMENT OF INSURANCE FUNDING. In accordance with 29 Del. C. §913, the following information is provided relating to licenses and fees. Des …

… fees. Description of the Legislation: Upon enactment, the provisions of this Act: •Increase certain license fees for insurance professionals contained in 18 Del. C. §701 by $25. The specific increases are represented in the table below: Initi …

… $25. The specific increases are represented in the table below: Initial Biennial Renewal License From To From To Insurance Producer $100 $125 $100 $125 Adjuster $100 $125 $100 $125 Limited Lines Producer $100 $125 $100 $125 Surplus Lines B …

… ucer $100 $125 $100 $125 Appraisers $100 $125 $100 $125 Apprentice Adjuster/Appraiser $50 $75 $0 $0 Business entity (insurance agency) $100 $125 $100 $125 Bail Agent $200 $225 $200 $225 Viatical Settlement $250 $275 $250 $275 Discount Medic …

… 1,000 $1,025 $500 $525 Car Rental $300 $325 $320 $325 Amendments $25 $50 •Earmark 15% of certain license fees to the Insurance Commissioner Regulatory Revolving Fund, used to support the operations of the Insurance Commissioner’s Office. •Incr …

… f certain license fees to the Insurance Commissioner Regulatory Revolving Fund, used to support the operations of the Insurance Commissioner’s Office. •Increase the maximum unencumbered balance authorized to remain in the Insurance Commissioner …

… rations of the Insurance Commissioner’s Office. •Increase the maximum unencumbered balance authorized to remain in the Insurance Commissioner Regulatory Revolving Fund at the end of a fiscal year from $1,000,000 to $5,000,000. The Department o …

… Commissioner Regulatory Revolving Fund at the end of a fiscal year from $1,000,000 to $5,000,000. The Department of Insurance reports 306,555 resident and non-resident licensees as of the end of calendar year 2024. Affected Entities: License …