HI SB1324

Establishes a new "dormant captive insurance company" status allowing captive insurers that have never transacted business or have ceased operations with no remaining liabilities to obtain a certificate of dormancy, requiring $25,000 minimum capital and annual $300 renewal fees.

Expands the definition of "trade name" to include "doing business as" language and clarifies continuing education course examination requirements, including that exam contents must be made available to the commissioner upon request.

Removes bond and errors and omissions insurance requirements from reinsurance intermediary-manager regulations, consolidating these requirements to apply only when reinsurers engage such managers.

Increases surety bond requirements for third-party administrators from $100,000 to $300,000 beginning in the third year of licensure and clarifies audited financial statement filing requirements for consolidated entities.

Adopts expanded "value-added products and services" provisions allowing insurers to offer non-insurance benefits (loss mitigation, risk education, financial wellness services, etc.) at no or reduced cost, subject to commissioner oversight and anti-discrimination requirements.