Delaware Administrative Code
Title 2 - Transportation
2000 - Department of Transportation
2200 - Division of Motor Vehicles
Vehicle Services
2270 - Requirements for Self-Insured Vehicle Owners (Formerly Reg. No. 62)
Section 2270-1.0
Current through Register Vol. 28, No. 3, September 1, 2024
Any person in whose name more than 15 motor vehicles are registered in Delaware may qualify as a self insurer pursuant to 21 Del.C. § 2904 by doing the following:
1.1 Each year the self insurer would forward to the Division a certified letter that no judgment resulting from the operation of a motor vehicle remained unsatisfied for more than 30 days.
1.2 The self insurer would forward to the Division each year a financial statement accompanied by an opinion letter from the self-insurer's accountant that the self insurer could satisfy a 1.5 million dollar judgment as a result of the operation of a motor vehicle without, as a result, the self insurer's liabilities exceeding its assets.
1.3 The Division be notified of any judgment or settlement exceeding $250,000 obtained or agreed to by a self insurer
