The Delaware Insurance Commissioner regulates Delaware’s insurance industry, tracks insurance companies’ financial well-being, and investigates insurance fraud complaints. Delaware’s insurance Commissioner is elected to a four-year term on presidential election years. The commissioner oversees the execution of the Delaware Department of Insurance mission to protect our citizens through the following means: Protect insurance consumers Regulate companies to ensure ability to pay claims Review, approve, and/or disapprove rates submitted by insurance companies Prosecute insurance fraud License agents and brokers Save businesses money on premium costs Assist Medicare-eligible seniors Advocate for residents through arbitration and legislation
Salary: $130,947/year
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Party: Democrat
Campaign Email: abegunde.kayodeusa@gmail.com
Additional Information: Dr. Kayode Abegunde is a multi-talented individual with a diverse range of experiences and accomplishments. He is a devoted husband and father, as well as a minister and deacon at the Redeemed Christian Church of God, Abundant Life Center Family Church. Professionally, he serves as a Director of Services and Operations at Keystone Human Services and is the Principal Consultant/CEO at Entrepreneurial Consulting LLC. In addition to his professional roles, Kayode is also actively involved in his community, serving on the Financial Advisory Council for the New Castle Government and as a former commissioner for Behavioral and Mental Health representing New Castle County, State of Delaware Government. Kayode’s educational background includes a bachelor’s degree in accounting, two master’s degrees in finance and health care administration, several Ph.D. credits in Human and Prevention Science, and an honorary doctorate degree in Data Management.
Work Experience: Keystone Human Services, Wilmington, Delaware- Director of Services, Entrepreneurial Consulting, LLC -Principal Consultant
Neighborhood/area of residence: Bear
Campaign Website: kayabegunde.com
Campaign Phone: (302) 690-7703
Education: Wilmington University, New Castle, DE Doctor of Prevention Science -DBS 2018-2024 deferred. Capella University, Minneapolis, MN Ph.D – Public and Human Services 2016-2018 (2years toward Ph.D Degree) Wilmington University, New Castle Delaware, Honorary Doctorate Degree in Data Management. Master of Business Administration (MBA)- Finance 2010 • Master of Business Administration (Health Care Administration) 2014 University of Ado-Ekiti, Nigeria • Bachelor of Science (Accounting) 2004
Community Involvement: Member- Lions Club, Member, NAACP, Former, Appointed by Governor John Carney as a Commissioner for Behavioral and Commissioner(New Castle) 2018, Financial Advisory Board Member, New Castle County Government, Volunteer, Precious Hope Inc. Former Volunteer, Chrsitiana Health Care Services
Q: What are your qualifications for office, and what differentiates you from the other candidate(s)?
A: As a candidate, my primary goal is to represent, protect, and advocate for Delawareans on all insurance policies and coverage. Furthermore, I plan to work closely with our legislators to introduce effective policies that regulate the insurance industry and ensure a fair deal for all Delaware residents. The reasons why I am running 1. Equity- Advocating for Delawareans to discourage redlining 2. Affordability- Able to work with the insurance companies to bring affordable premiums to the Delawareans 3. Accessibility- Bringing more insurance products to our people in Delaware and breaking the monopoly 4. Regulations- Using effective regulations to leverage the market to reduce insurance costs and premiums 5. Options- Providing more option
Q: In 2022 the top 6 health insurance companies reported combined profits of over $40 billion. What is your position on profitability versus coverage and care in healthcare?
A: My philosophy is to advocate for affordable coverage and care for everyone. While profit is important for the insurer but my job is to protect the consumers(insured) and I will defend it with everything I got.
Q: In 2021, insurance companies denied an average of 17% of in-network claims, with private insurers far more likely to deny claims than public plans. Discuss your point of view on insurance denials. What is your perspective on why private insurers are so much more likely to deny claims?
A: This has been the practice over the years in denying claims but my job once elected is to bring every stakeholders on the table to discuss a way forward. I am big in equality, fairness, affordability, and indemnifications, It’s extremely important to identify and address the root cause that way we are able to provide appropriate advocacy for the consumers and also work closely with the private insurance companies to work on areas that we can leverage.
Q: What is your position on making prior authorizations by health insurers easier for patients to navigate?
A: Based on the job I do, it’s extremely important to make a prior authorization patients-friendly, that way there won’t be any delay to patients care and medication refills. Health is wealth and we can save more lives if medical care are not delayed for the insured.
Q: How should Delaware balance increasing costs for state employee retirement insurance with care gaps from other less expensive plans?
A: I will recommend a state government budget increase to cover the state responsibility and helps employees premium positively.
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Party: Democrat
Campaign Email: trinidadnavarro2016@gmail.com
Work Experience: New Castle County Police Officer 1991- – 2011, New Castle County Sheriff 2011- – 2017, Insurance Commissioner 2017– present
Neighborhood/area of residence: Caravel Woods
Campaign Website: trinidad-navarro.com
Campaign Phone: (302) 593-3345
Education: BS is Criminal Justice, Wilmington University
Community Involvement: Member of the 27th Representative District, Former coach and board member of the Canal Little League
Q: What are your qualifications for office, and what differentiates you from the other candidate(s)?
A: I am the only candidate who is uniquely qualified for this position. I have been an insurance regulator for 8 years having accomplished the following: * I have fined insurance companies millions for prohibited practice violations. * I have investigated and prosecuted insurance fraud. * I have been elected by my peers to serve as the Chair of the national anti-fraud task force. * I have recovered millions for consumers in arbitration. * I have recruited multiple insurance companies who offer various lines of insurance to Delawareans. * I have collected over a billion dollars in premium taxes for the state of Delaware. * Most importantly, I have assisted 1,000’s of consumers who had been taken advantage of by insurance companies.
Q: In 2022 the top 6 health insurance companies reported combined profits of over $40 billion. What is your position on profitability versus coverage and care in healthcare?
A: In evaluating rates, we can mostly take into account paid claims against premiums. We take into account trend analysis for claims. We have contracted analysts with no insurance company affiliation to examine rate requests and offer their finding to the department for a final decision. A large part of companies’ profits are generated from their investment portfolios. As you’re probably aware, the success of the investment markets over the past few years after steep declines during Covid have provided companies with significant profits for their investment portfolios. We can only minimally consider investment profits when reviewing rate filings.
Q: In 2021, insurance companies denied an average of 17% of in-network claims, with private insurers far more likely to deny claims than public plans. Discuss your point of view on insurance denials. What is your perspective on why private insurers are so much more likely to deny claims?
A: Of course we’d like to see that number lower. In the private sector, there is no staff actively assisting its members. It’s up to the individual to appeal denials and go thru the administrative process. In the public arena, ie. State of Delaware employees and retirees, there is the State Benefits office that actively pursues claim denials on behalf of its members. The DOI really doesn’t have a role in this. But I can assure you that in the private sector, once made aware of a constituent’s issues with a denial we will advocate on behalf of the individual to the fullest extent possible.
Q: What is your position on making prior authorizations by health insurers easier for patients to navigate?
A: Prior authorizations have their place to keep overall costs in line. However, studies have shown that insurers ultimately approve the requested procedure –at a rate of about 95%. This year, I supported the premise of the Medical Society’s effort to pass SB 10, the “Prior Authorization Bill.” Although the bill wasn’t completed this year, I look forward to offering our assistance to pass a bill that would lessen the burden for both providers and patients. I would additionally be in favor of having time limits on the approval process, and a more visible process to the consumer.
Q: How should Delaware balance increasing costs for state employee retirement insurance with care gaps from other less expensive plans?
A: As a member of the State Employment Benefit Committee, I voted in favor of keeping the previous plan- in lieu of a Medicare Advantage plan. However, I would be open to offering choices to members and have their costs reflective of the level of coverage they choose. Many people of retirement age encounter increased healthcare costs as they age. Conditions vary from person to person. However, during retirement years of reduced income, it’s essential that healthcare remain affordable. So, I’m in favor of keeping a robust healthcare coverage plan for retirees and a more cost effective option for the State and retirees who are fortunate enough to have a healthy retirement period needing less provider care and medication.
The Delaware Journalism Collaborative is a project of the Local Journalism Initiative.
