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HI HCR87
Concurrent Resolution
Status
3/8/2018
Primary Sponsor
Linda Ichiyama
Click for details
AI Summary
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Requests the Insurance Commissioner to convene an insurance modernization working group to explore and propose legislation updating Hawaii's property and casualty insurance and life insurance laws.
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Cites the State's Insurance Code (Chapter 431, HRS) has not been substantially updated since 1987 to account for technological innovations such as the Internet and smartphones.
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Working group membership to include representatives from the five largest property and casualty insurers, three largest life insurers, Hawaii Independent Insurance Agents Association, National Association of Insurance and Financial Advisors, and Hawaii Association for Justice.
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Requires the working group to submit a written report with findings, recommendations, and proposed legislation to the Legislature no later than twenty days prior to the convening of the Regular Session of 2019.
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Directs transmission of certified copies of the resolution to the Insurance Commissioner for distribution to invited working group members.
Legislative Description
Requesting The Insurance Commissioner Convene An Insurance Modernization Working Group To Update And Modernize The State's Property And Casualty Insurance And Life Insurance Laws.
Insurance Code
Last Action
Report adopted; referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Souki excused (1).
3/28/2018