Levinson v. First Delaware Insurance

HORSEY, Justice:

In a declaratory judgment action, the Superior Court granted summary judgment in favor of First Delaware Insurance Company (“First Delaware”) and against the Delaware Insurance Commissioner (“Commissioner”). The Superior Court in a bench ruling held that the Commissioner had no authority: (1) to require First Delaware to have paid-in capital and free surplus greater than that required by 18 Del.C. § 511(a) before it could qualify for the issuance of a certificate of authority to transact insurance; or (2) to refuse to issue a certificate of authority to transact insurance to…