STAND. COM. REP. NO.943

Honolulu, Hawaii

, 2001

RE: S.B. No. 1070

S.D. 1

H.D. 1

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Consumer Protection and Commerce, to which was referred S.B. No. 1070, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO CONTINUING EDUCATION COURSES AND COURSE PROVIDERS FOR INSURANCE LICENSEES,"

begs leave to report as follows:

The purpose of this bill is to authorize the Insurance Commissioner to charge fees for the review and approval of continuing education courses and course providers.

Additionally, this bill requires course providers to submit course completion information to the Insurance Division (Division) by electronic means.

Testimony in support of this bill was received from the Department of Commerce and Consumer Affairs, the Hawaii Independent Insurance Agents Association, and the National Association of Insurance and Financial Advisors.

Your Committee finds that continuing education for insurance licensees helps to protect consumers and increase the quality of services provided. This measure will allow the Division to offset the cost of reviewing and approving insurance licensee continuing education courses and course providers. Further, Division efficiency and timeliness in processing insurance license renewals will be promoted by requiring course completion information to be submitted electronically.

Your Committee has made technical, nonsubstantive amendments for purposes of style, clarity, and consistency.

As affirmed by the record of votes of the members of your Committee on Consumer Protection and Commerce that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1070, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1070, S.D. 1, H.D. 1, and be referred to the Committee on Finance.

 

Respectfully submitted on behalf of the members of the Committee on Consumer Protection and Commerce,

____________________________

KENNETH T. HIRAKI, Chair