In determining the financial condition of a reciprocal insurer, the Commissioner shall apply the following rules:
(1) The Commissioner shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.
(2) The surplus deposits of subscribers shall be allowed as assets, except that any premium deposits delinquent for 90 days shall first be charged against such surplus deposit.
(3) The surplus deposits of subscribers shall not be charged as a liability.
(4) All premium deposits delinquent less than 90 days shall be allowed as assets.
(5) An assessment levied upon subscribers and not collected shall not be allowed as an asset.
(6) The contingent liability of subscribers shall not be allowed as an asset.
(7) The computation of reserves shall be based upon premium deposits other than membership fees and without any deduction for expenses and the compensation of the attorney.
Structure Delaware Code
Chapter 57. RECIPROCAL INSURERS
§ 5701. “Reciprocal” insurance defined.
§ 5702. Scope of chapter; existing insurers.
§ 5703. Insuring powers of reciprocals.
§ 5705. Attorney; attorney, subscribers and reciprocal insurer a single entity.
§ 5706. Organization of reciprocal insurer.
§ 5707. Certificate of authority.
§ 5711. Deposit in lieu of bond.
§ 5713. Service of process; judgment.
§ 5714. Contributions to insurer.
§ 5715. Financial condition; method of determining.
§ 5717. Subscribers' advisory committee.
§ 5718. Subscribers' liability generally.
§ 5719. Subscribers' liability on judgment.
§ 5721. Time limit for assessments.
§ 5722. Aggregate or contingent liability.
§ 5723. Nonassessable policies.