SB 1324 Hawaii Senate · 2024 Regular Session

RELATING TO INSURANCE.

Summary

Amends various provisions of title 24 of the Hawaiʻi Revised Statutes (HRS) to update and improve existing provisions. Adds the term "doing business as" to "trade name" statutory references. Clarifies continuing education provider filing requirements. Clarifies reinsurance intermediary-manager filing requirements. Amends the surety bond threshold requirement for third party administrators and clarifies the audited financial statements requirements. Adopts revised National Association of Insurance Commissioners Model #880 Unfair Trade Practices Act regarding expansion of value-added products beyond health products. Aligns section 431:13-103, HRS, with changes made to article 9 of chapter 431 by Act 110, Session Laws of Hawaiʻi 2021. Amends the definitions of "controlled unaffiliated business" and "participant" as applied to captive insurance companies. Effective 7/1/2050. (SD1)

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2023

Committee Review

Floor Vote

Governor

Introduced Jan 25, 2023 Last action Dec 11, 2023

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 17, 2023

Committee

Reported from CPN (Stand. Com. Rep. No. 584) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.

upper

Feb 9, 2023

Upper · Passed

The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 4 Aye(s): Senator(s) Keohokalole, Fukunaga, McKelvey, Richards; Aye(s) with reservations: none ; 1 No(es): Senator(s) Awa; and 0 Excused: none.

upper

Feb 3, 2023

Upper · Passed

The committee(s) on CPN has scheduled a public hearing on 02-09-23 9:31AM; Conference Room 229 & Videoconference.

upper

Jan 30, 2023

Committee

Referred to CPN, WAM.

upper

Jan 25, 2023

Introduced

Introduced.

upper

1 primary · 0 co-sponsors