ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO UNFAIR PRACTICES IN THE INSURANCE BUSINESS.

The rescission period was shortened from 60 days (in the original SB 189) to 15 days after signing the release or cashing a settlement check.

The Act takes effect 6 months after enactment into law.

Changed 'automobile accidents' to 'motor vehicle accidents,' broadening the types of vehicles and incidents covered by the rescission right.

New subsection (d) requires that any release of liability signed within 30 days of the accident must conspicuously state the individual's right to rescind, either on the release document, on the settlement check, or via written communication if neither exists.

The final text requires the rescission notice and returned funds to be sent no later than 10 days after the 15-day rescission period expires (effectively 25 days from signing), replacing the prior amendment's requirement of confirmation via certified mail, ACH tracking number, or other recognized method of funds tracking.

New subsection (c) allows an insurer to withhold payment of any future settlement proceeds until it receives confirmation that the original check or settlement proceeds have been returned by the injured individual.