Requirements for Self-Insured Vehicle Owners (Formerly Reg. No. 62)

Title 2 Transportation Vehicle Services <!-- var strFile='<!--#echo var="DOCUMENT_NAME"-->'; document.write (setPDFLink(strFile ; // --> 2270 Requirements for Self-Insured Vehicle Owners (Formerly Reg. No. 62) 1.0 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 2.0 Upon compliance of the above requirements in satisfactory form, the Department will, in its discretion, issue an approval. .