Delaware Code Title 18 Sec. 4905 – Mutual insurers — Initial qualifications
(a) When newly organized, a domestic mutual insurer may be authorized to transact any one of the kinds of insurance listed in the schedule contained in subsection (b) below.
(b) When applying for an original certificate of authority, the insurer must be otherwise qualified therefor under this title and must have received and accepted bona fide applications as to substantial insurable subjects for insurance coverage of a substantial character of the kind of insurance proposed to be transacted, must have collected in cash the full premium therefor at a rate not less than that usually charged by other insurers for comparable coverages, must have surplus funds on hand and deposited as of the date such insurance coverages are to become effective or, in lieu of such applications, premiums and surplus, may deposit and thereafter maintain surplus, all in accordance with that part of the following schedule which applies to the 1 kind of insurance the insurer proposed to transact:
| (A) | (B) | (C) | (D) | (E) | (F) | (G) | (H) |
| Kind of Ins. | Min. No. of Apps Accepted | Min. No. Subjects Covered | Minimum Premium Collected | Minimum Amt. Ins. Ea. Subj. | Max. Amt. Ins. Ea. Subject | Deposit Min. Surplus Fund | Deposit Surplus in lieu |
| (v) | (vi) | (vi) | |||||
| ________________ | ________________ | ________________ | ________________ | ________________ | ________________ | ________________ | ________________ |
| Life(i) | 500 | 500 | Annual | $?2,000 | $?5,000 | $100,000 | $200,000 |
| Health(ii) | 500 | 500 | Quarterly | $25 | $50 | $100,000 | $200,000 |
| (weekly | (weekly | ||||||
| indem.) | indem.) | ||||||
| Property(iii) | 100 | 250 | Annual | $?3,000 | $?7,000 | $100,000 | $200,000 |
| Casualty(iv) | 250 | 250 | Annual | $?5,000 | $25,000 | $200,000 | $300,000 |