Delaware Property & Casualty Insurance License Exam — All Questions
3 questions
Which office regulates insurance and licenses property and casualty producers in Delaware?
- a.Delaware Department of Insurance✓
- b.Delaware Division of Motor Vehicles
- c.Delaware Office of the State Bank Commissioner
- d.Delaware Public Service Commission
Delaware's insurance regulator is the Delaware Department of Insurance, headed by an elected Insurance Commissioner. It licenses producers and enforces the state insurance code.
A distinctive feature of Delaware's insurance regulator compared with many other states is that the Insurance Commissioner is:
- a.Appointed by the state legislature
- b.A federal appointee
- c.An elected statewide official✓
- d.Chosen by the insurance industry
Delaware's Insurance Commissioner is elected by voters statewide, unlike states where the commissioner is appointed by the governor. The office still carries the same licensing and enforcement powers.
Under Delaware law, mid-term cancellation of a seasoned personal auto policy by the insurer is generally:
- a.Limited to specific statutory grounds and requires advance written notice to the insured✓
- b.Allowed at any time for any reason without notice
- c.Prohibited entirely once a policy is issued
- d.Permitted only by the DMV
Delaware restricts mid-term cancellation of in-force personal-lines policies to defined grounds and requires advance written notice so the insured can find replacement coverage. Specific notice periods are set by statute; verify the current day counts with the Delaware Department of Insurance.