Delaware Issues RFP for Office of Value-Based Health Care Delivery

Delaware’s Department of Insurance is pleased to announce that it is actively recruiting for a qualified independent contractor to staff and run its new Office of Value-Based Health Care Delivery. The Office will assist the Insurance Commissioner and Delaware’s Primary Care Reform Collaborative in evaluating primary care accessibility and affordability statewide.

“Reducing health care costs in Delaware is a key priority of my administration,” said Insurance Commissioner Trinidad Navarro. “The team leading our Office of Value-Based Health Care Delivery needs to possess a high level of expertise in health care transformation and innovation. Together with the Primary Care Reform Collaborative, we intend to identify quantitative tools that will help increase the availability of high quality, cost-efficient health insurance products that have stable, predictable, and affordable rates.”

Earlier this year, members of the General Assembly passed Senate Substitute 1 for Senate Bill No. 116, in order to create the Office. The Office was a recommendation of the Primary Care Reform Collaborative, which is tasked with evaluating the high costs of care in Delaware. In the months since passage, the Collaborative has been working hard to develop recommendations to strengthen Delaware’s primary care system.

“The legislature’s consideration of pro-consumer bills has allowed us to continue to foster an environment where residents are prioritized over profits,” said Leslie W. Ledogar, Esq, the Commissioner’s representative within the working group. “The Office of Value-Based Health Care Delivery epitomizes that vision, and we are grateful for everyone who spent time working on this effort.”

The Request for Proposal may be downloaded from the Office of Management and Budget website. Applicant questions should be directed to the Department’s Regulatory Specialist Leslie W. Ledogar, Esq.


Steve Kinion named to Captive Review Power 50

Dover, DE –  For the eighth year in a row, Delaware’s captive insurance director, Steve Kinion, has been named to Captive Review’s Power 50.  The Power 50 represents the fifty most powerful and influential individuals in today’s global captive insurance industry.  Over 3,000 insurance professionals worldwide cast their votes to select the Power 50.  Since 2014, Steve has been ranked in the top ten of the Power 50 lists and for 2018 he ranks as the 9th most influential person in global captive insurance.

Insurance Commissioner Trinidad Navarro offered congratulatory words, “Steve is a captive insurance expert and professional.  His continuous selection for the Power 50 reflects the strength of the Delaware captive insurance domicile.”

Steve Kinion said, “I am honored that my peers selected me to be on the Power 50 list.  While this selection is an individual recognition, this acknowledgment belongs to the members of Delaware’s captive staff.  Without their hard work, I would not have been selected.”

In terms of the number of captives domiciled, Delaware is the world’s fifth largest captive domicile and the nation’s third largest.  It is the second largest U.S. domicile when measured by captive insurance premium.  The fact that the Delaware Insurance Department is an ICCIE Trained organization reflects that its experienced captive insurance team has reviewed and licensed some the world’s most complex and innovative captive insurance transactions.

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The Delaware Department of Insurance protects Delawareans through regulation and education while providing oversight of the insurance industry to best serve the public.

 

Contact: Vince Ryan

Office: (302) 674-7303

Email: vince.ryan@state.de.us

                                                           

Delaware Department of Insurance

http://www.insurance.delaware.gov

Dover Office: 302-674-7300

Consumer Services Division: 1-800-282-8611

 


Delaware Licenses 46 Captive Insurers in Challenging Environment

DOVER, DE—Insurance Commissioner Trinidad Navarro today announced the formation of 46 captive insurers in Delaware in 2018. Commissioner Navarro stated, “Captive insurance formations faced a number of challenges in 2018, due to recent changes in tax law. Despite the headwinds, Delaware’s having knowledgeable captive regulators continues to attract quality applicants. Delaware is the fifth largest captive domicile in the world, and 3rd largest in the U.S. It is only one of four captive insurance domiciles that is ICCIE (International Center for Captive Insurance Education) trained. Its captive insurers generate more than $12.5 billion of annual captive insurance premium.

We are committed to licensing captive insurers with sound business plans formed by reputable individuals. I thank my captive team for its hard work to make Delaware a leading captive domicile.” Commissioner Navarro attributes 2018’s success to the newly enacted conditional licensing legislation. Delaware is the first state in the nation allowing electronic filing of a conditional license. It permits the issuance of a conditional license to a captive insurance applicant on the same day as the application submission. Of the 46 licenses issued, in Delaware, 30 were conditional licenses. It allows speed to market for issuing a license, while at the same time maintaining regulatory integrity and safety. It is only available to certain captive managers who satisfy specific standards set by the Department of Insurance. If an approved captive manager needs a captive insurance license by a certain date, then they are encouraged to seek a conditional license.

Commissioner Navarro went on to say, “Besides recognizing the efforts of my captive director Steve Kinion and our captive team, I also thank the members of the Delaware General Assembly who unanimously voted for the conditional license legislation, Governor Carney for signing it, as well as the Delaware Captive Insurance Association for their support.”

Delaware is a leading captive domicile, ranking 3rd in the nation, and 5th in the world. It is only one of four captive insurance domiciles that is ICCIE (International Center for Captive Insurance Education) trained. Delaware domiciled captive insurers generate more than $12.5 billion of annual captive insurance premium. For more information about Delaware’s Captive Insurance program, please see captive.delaware.gov, or call our Captive office in Wilmington Delaware at 302-577-5280.
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Contact: Vince Ryan
Office: (302) 674-7303
Email: vince.ryan@delaware.gov

Delaware Department of Insurance

Dover Office: 302-674-7300
Consumer Services Division: 1-800-282-8611


Mitch Crane to Leave State Service

Dover, DE (January 22, 2018) – Insurance Commissioner Trinidad Navarro announced today that Mitch Crane, his Deputy Commissioner will end his long service to the State of Delaware on February 16, 2018.

Crane has served as Commissioner Navarro’s Deputy since the beginning of the Commissioner’s term on January 3, 2017. Mr. Crane had been serving as a member of the Industrial Accident Board, but departed that post in order to lend his insurance knowledge, experience, and expertise to Commissioner Navarro’s new administration. Mr. Crane previously (2007-2011) served the Department of Insurance as Regulatory Specialist and Director of Consumer Services under then-Commissioners Matt Denn and Karen Weldin Stewart. Prior to that service, Mitch Crane practiced law in Chester County, Pennsylvania and served 6 years on the county bench.

In announcing the pending move, Commissioner Navarro stated: “I have known Mitch since I ran for New Castle County Sheriff. I am proud to call him my friend and I value his service to me, the Department and the people of Delaware. His knowledge of insurance law, the legislative process as well as the administrative functions as my chief regulator have been invaluable to me.”

Mr. Crane thanked Commissioner Navarro and stated that “I am honored to have been given the opportunity to serve the Department of Insurance and the people of Delaware for the last 14 months. Though I will miss working with the Commissioner and the Department’s staff, and working for the implementation of his vision, I am sure that work will continue.”

Deputy Commissioner Crane will continue to oversee matters within his regulatory authority until February 16th.

Contact: Vince Ryan
Office: (302) 674-7303
Email: vince.ryan@delaware.gov

Delaware Department of Insurance

Dover Office: 302-674-7300
Consumer Services Division: 1-800-282-8611


Delaware’s Captive Insurance Program Continues to Excel

The World’s Fifth Largest, and the Third Largest U.S. Domicile, Continues its Leadership Role

DOVER, DE  – Insurance Commissioner Trinidad Navarro announced today that the International Center for Captive Insurance Education (ICCIE and pronounced “I See”) has designated the Delaware Insurance Department Bureau of Captive and Financial Insurance Products as an ICCIE Trained Organization. Delaware is one of only two states that has applied for and received this recognition. To qualify as an ICCIE Trained Organization, the captive bureau had to meet the following requirements:

  1. At least 20% of the captive professionals in the captive bureau must hold the Associate in Captive Insurance (ACI) in good standing; and
  2.  At least 30% of the captive bureau’s professionals must be ACIs, Certificate in Captive Insurance (CCI) holders, or currently enrolled in the ACI or CCI program.

For insurance regulators, ICCIE maintains strict standards for who qualifies as a “captive professional.”  The definition of a “captive professional” is someone who spends at least 20% of their time on captive insurance work and is either a licensed professional such as an attorney, accountant, actuary, insurance producer/agent, investment adviser/broker dealer, underwriter, or an equivalent to such a position.  It does not apply to those whose work is purely administrative.

“This recognition by the ICCIE reflects the education, experience, and professionalism of Delaware’s captive insurance staff.  One of my objectives is to build upon a staff of highly competent regulators who know and understand how to regulate insurance for the benefit of my fellow Delawareans.  I am proud of the hard work and dedication of the individuals in the captive bureau and heartily commend them,” said Commissioner Navarro.

ICCIE’s mission is to be the premier provider of captive insurance education and to offer the pre-eminent professional designation in captive insurance.  ICCIE’s program and curriculum have been developed in collaboration with the University of Vermont and reflect the highest standards of a top-tier educational institution.

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The Delaware Department of Insurance protects Delawareans through regulation and education while providing oversight of the insurance industry to best serve the public.