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HI SB2769

Bill

Status

Passed

7/10/2012

Primary Sponsor

Shan Tsutsui

Click for details

Origin

Senate

2012 Regular Session

AI Summary

  • Requires the Insurance Commissioner to publish annually on the Insurance Division website a list of all homeowners insurers with representative annual premiums for homeowners insurance.

  • Requires the Insurance Commissioner to publish annually on the Insurance Division website a list of all motor vehicle insurers with representative annual premiums for motor vehicle insurance, replacing the previous requirement to publish in a newspaper.

  • Establishes procedures for the Commissioner to mandate rate adjustments when rates are excessive, inadequate, or unfairly discriminatory, including written notice of disapproval and hearing requirements within specified timeframes.

  • Adds "advisory organizations" alongside "rating organizations" throughout insurance rate filing and regulation provisions in Hawaii Revised Statutes Chapter 431, Article 14.

  • Repeals section 431:10C-209.5, which previously allowed the Commissioner to annually adjust motor vehicle insurance rates without a specific rate filing process.

Legislative Description

Insurance; Publication of Rates; Rate Filings; Rate Intervention

Last Action

(S) Act 258, 7/6/2012 (Gov. Msg. No. 1361).

7/10/2012

Committee Referrals

Ways and Means2/16/2012
Commerce and Consumer Protection1/25/2012

Full Bill Text

No bill text available