{"data":{"id":"us-de/18-del.-c.-6932","jurisdiction":"us-de","citation":"18 Del. C. § 6932","heading":"Definitions.","body":"As used in this subchapter, unless the context requires otherwise:\n(1) “Participant” means any person, including any counterparty as defined in § 6952(1) of this title, that is insured by a sponsored captive insurance company, where the losses of the participant are limited through a participant contract to the participant’s pro rata share of the assets of 1 or more protected cells identified in the participant contract.\n(2) “Participant contract” means a contract by which a sponsored captive insurance company insures the risks of 1 or more participants, and limits the losses of each participant to its pro rata share of the assets of 1 or more protected cells identified in the participant contract, including an SPFC contract as defined in § 6952 of this title.\n(3) “Protected cell” means a separate and distinct account established and maintained by or on behalf of a sponsored captive insurance company in which assets, including assets invested pursuant to § 6937 of this title, are accounted for and recorded for 1 or more participants in accordance with the terms of 1 or more participant contracts to fund the liability of the sponsored captive insurance company assumed on behalf of the participants as set forth in the participant contracts.\n(4) “Sponsor” means a person qualifying as a sponsor under § 6935 of this title.\n(5) “Sponsored captive insurance company” means a captive insurance company, including a special purpose financial captive insurance company as defined in § 6952 of this title:\na. Of which the minimum capital and surplus required by this chapter is provided by 1 or more sponsors;\nb. That is licensed under the provisions of this chapter;\nc. That insures the risks of its participants only, through separate participant contracts; and\nd. That funds its liability to each participant through 1 or more protected cells and segregates the assets of each protected cell from the assets of other protected cells and from the assets of the sponsored captive insurance company’s general account.","path":["Title 18. Insurance Code","Insurance","CHAPTER 69. Captive Insurance Companies","Subchapter II. Sponsored Captive Insurance Companies"],"source_url":"https://delcode.delaware.gov/title18/c069/sc02/index.html#6932","current_through":"2026-08-10 (85 Del. Laws, c. 421, 424)","vintage":"","retrieved_at":"2026-09-05T23:02:25Z","sha256":"da9cab629dad09ae06db4334343d4829737bd4fe773f3b16ee9c473a99739ee9","source_id":"us-de","stale":true,"prev":"us-de/18-del.-c.-6931","next":"us-de/18-del.-c.-6933"},"notice":"GroundRules: Original legal text. Not legal advice."}