HB2544 Summary

• Requires licensees to report civil/administrative actions within 30 days of final disposition and criminal prosecutions within 30 days of arraignment to the insurance commissioner, including copies of complaints and relevant legal documents.

• Removes requirement for commissioner approval of policy language in accident and health insurance, allowing insurers to certify conformity with state statute requirements instead.

• Expands confidentiality protections for actuarial reports and working papers submitted to the commissioner, prohibiting disclosure except to the Actuarial Board for Counseling and Discipline for disciplinary proceedings.

• Modifies managing general agent requirements by shifting surety bond and errors and omissions insurance requirements from commissioner mandate to required contract provisions between insurers and managing general agents.

• Updates reporting timelines for licensee address changes and managing general agent notifications from "promptly" to specific 30-day requirement; clarifies that Hawaii has prospectively opted out of interstate long-term care insurance product standards.