DCRB Announces Late Reported Policy Timeliness Initiative's Fining Structure

The Delaware Compensation Rating Bureau (DCRB) has announced the implementation of Phase 1 of its 2025 Policy Data Quality Assurance Program (PDQAP) -- the Late Reported Policy Timeliness Initiative -- aimed at improving policy data submission compliance. Effective July 1, 2025, insurers must submit policy data within 30 days of a policy’s effective date or face fines.

A fining structure will apply to policies reported 36 days or more past their effective date, ranging from $50 for delays of 36-60 days to $2,000 for submissions over 548 days late. A five-day grace period is included.

Insurers must designate a Policy Contact Person for compliance notifications. DCRB offers automated alerts and reporting tools to assist insurers. Read full details in DCRB Circular 1048.