HI SB1279

Amends Hawaii's insurance code to comply with the federal Nonadmitted and Reinsurance Reform Act of 2010 regarding surplus lines insurance regulation and tax collection.

Establishes new definitions including "exempt commercial purchaser," "home state," "multistate risk," and "independently procured insurance" to align with federal requirements.

Allows surplus lines brokers to place insurance with unauthorized insurers for exempt commercial purchasers without conducting a due diligence search, provided proper disclosures are made and the purchaser requests it in writing.

Authorizes the Insurance Commissioner to participate in multistate cooperative agreements to collect and distribute surplus lines premium taxes and fees to applicable states on a quarterly basis.

Changes surplus lines broker reporting requirements from annual to quarterly reports (45 days after each quarter ends) and requires itemization of premiums, taxes, and fees by state.