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HI HB2730
Bill
Status
1/25/2012
Primary Sponsor
Linda Ichiyama
Click for details
AI Summary
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Makes motor vehicle insurance policy premiums non-refundable upon cancellation to reduce uninsured motorists and prevent drivers from canceling coverage after completing registration and safety inspections.
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Allows pro rata refund of unearned prepaid premiums when a policy is canceled due to the insured's death or disability preventing motor vehicle operation.
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Excludes individuals who purchase insurance through premium finance plans allowing monthly payments from the non-refund requirement.
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Addresses the estimated 11 percent of Hawaii motorists currently driving without insurance by creating financial disincentive to cancel coverage prematurely.
Legislative Description
Motor Vehicle Insurance; Cancellation; Refund; Insured
Last Action
(H) Passed Second Reading as amended in HD 1 and referred to the committee(s) on CPC with none voting aye with reservations; none voting no (0) and Representative(s) Belatti, C. Lee, M. Lee, Tokioka excused (4).
2/15/2012