Delaware reins in premium tax reporting with tightened geographic deadlines

The Delaware Department of Insurance directs companies writing lines listed in Working Form T-5 to use electronic GIS tracking software to allocate and report premiums on Delaware risks across the City of Wilmington, New Castle County outside Wilmington, Kent County and Sussex County, and states that this method will remain in effect unless otherwise instructed. The bulletin warns that reliance solely on zip codes can lead to misclassification, noting that, effective January 1, 2025, “City of Wilmington” is defined as zip codes 19801, 19802, 19805 and 19806 and that the Commissioner expects Working Form T-5 to show higher premiums for New Castle County outside Wilmington where appropriate.