Delaware Administrative Code
Title 18 - Insurance
1400 - Health Insurance Specific Provisions
1404 - Long-Term Care Insurance
Section 1404-15.0 - Reporting Requirements

15.1 Every insurer shall maintain records for each Delaware-licensed producer of that producer's amount of replacement sales as a percentage of the producer's total annual sales and the amount of lapses of long-term care insurance policies sold by the producer as a percent of the producer's total annual sales.

15.2 Each insurer shall report annually by June 30 the 10% of its Delaware-licensed producers with the greatest percentages of lapses and replacements as measured by subsection 15.1 of this regulation.

15.3 Reported replacement and lapse rates do not alone constitute a violation of insurance laws or necessarily imply wrongdoing. The reports are for the purpose of reviewing more closely producer activities regarding the sale of long-term care insurance.

15.4 Every entity providing long-term care insurance in this state shall file annually as an attachment to its annual statement an exhibit that discloses the total number of long-term care insurance policies, by form number, in force in this state and the total number of policies, by form number, that have lapsed over the previous 5 years. Companies must provide in-force policy and lapsed policy information in the following manner:

15.5 Every insurer shall report, annually by June 30 the number of replacement policies sold as a percentage of its total annual sales and as a percentage of its total number of policies in force as of the preceding calendar year.

15.6 For purposes of Section 15.0 of this regulation, "policy" shall mean only long-term care insurance and "report" shall mean on a statewide basis.