HI SB2042

Reduces the minimum capital and surplus requirement for Class 4 sponsored captive insurance companies from $500,000 to $100,000

Amends Section 431:19-104 of Hawaii Revised Statutes governing captive insurance company financial requirements

Maintains existing minimum requirements for other captive insurance classes: Class 1 ($100,000), Class 2 ($250,000), Class 3 ($500,000), and Class 5 (determined case-by-case by commissioner)

Effective date set for January 1, 3000 (placeholder date indicating further legislative action needed)