REPORT TITLE:
Insurance


DESCRIPTION:
Exempts bail bond rates from insurance rate filing requirements.
(SB970 HD1)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        970
THE SENATE                              S.B. NO.           S.D. 1
TWENTIETH LEGISLATURE, 1999                                H.D. 1
STATE OF HAWAII                                            
                                                             
________________________________________________________________
________________________________________________________________


                   A  BILL  FOR  AN  ACT

RELATING TO BAIL BONDS.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The purpose of this Act is to clarify that bail
 
 2 bond rates are not subject to insurance rate filing requirements.
 
 3 The legislature intends that bail bond rates be regulated under
 
 4 the bail law, rather than the insurance code article on rate
 
 5 regulation.
 
 6      SECTION 2.  Section 431:14-104, Hawaii Revised Statutes, is
 
 7 amended by amending subsection (a) to read as follows:
 
 8      "(a)  Every insurer shall file in triplicate with the
 
 9 commissioner, except as to specific inland marine risks which by
 
10 general custom of the business are not written according to
 
11 manual rate or rating plans[,] and bail bonds subject to section
 
12 804-62, every manual of classifications, rules, and rates, every
 
13 rating plan, and every other rating rule, and every modification
 
14 of any of the foregoing which it proposes to use.  Every filing
 
15 shall state its proposed effective date, and shall indicate the
 
16 character and extent of the coverage contemplated.  The filing
 
17 also shall include a report on investment income."
 

 
 
Page 2                                                     970
                                     S.B. NO.           S.D. 1
                                                        H.D. 1
                                                        

 
 1      SECTION 3.  Statutory material to be repealed is bracketed.
 
 2 New statutory material is underscored.
 
 3      SECTION 4.  This Act shall take effect upon its approval.