Delaware Seeks New Insurance Carriers

Delaware Insurance Commissioner Karen Weldin Stewart says the state is working to attract new insurance carriers.

Stewart made the announcement Thursday while discussing new sources of revenue the commission is pursuing.

She says captive insurance companies are another possible source of revenue. Captive insurance is a separate division of a business formed to better insure its risk at a lower cost.

The new Bureau of Captive and Financial Insurance Products division is a division of the state’s Department of Insurance. Stewart says its mission is accelerating and developing potential revenue streams, including new captive insurance companies.

The bureau is also considering an insurance exchange to bring in more money for the state.