Informing the Legislature that on July 14, 2026, the Governor signed the following bill into law: SB2043 SD1 HD1 CD1 (ACT 255).

This bill, signed into law by Governor Josh Green on July 14, 2026, amends Hawaii's insurance regulations to change how often the state examines captive insurance companies. Under the new rules, most captive insurance companies must be examined within five years of licensure, but from 2027 until the end of 2031, the insurance commissioner has the discretion to decide whether to conduct further exams. Starting January 1, 2032, the requirement for a mandatory examination every five years will be reinstated for all captive insurance companies. Risk retention captive insurance companies are treated differently, requiring an initial exam within three years of formation and then every five years thereafter. The legislation also mandates that the insurance commissioner submit a report to the legislature by 2031 to evaluate the effectiveness of this temporary discretionary examination period.