CONFERENCE COMMITTEE REP. NO. 137
Honolulu, Hawaii
, 2007
RE: H.B. No. 90
H.D. 2
S.D. 2
C.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Fourth State Legislature
Regular Session of 2007
State of Hawaii
Honorable Colleen Hanabusa
President of the Senate
Twenty-Fourth State Legislature
Regular Session of 2007
State of Hawaii
Sir and Madam:
Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 90, H.D. 2, S.D. 2, entitled:
"A BILL FOR AN ACT RELATING TO INSURANCE,"
having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.
The purpose of this bill is to enhance the monitoring of the insurance marketplace, protection of insurance policyholders, and compliance with the Insurance Code and regulations, by adopting the National Conference of Insurance Legislators Market Conduct Surveillance Model Law, which establishes a framework for the Insurance Commissioner to conduct market conduct examinations of domestic and foreign insurers.
A market conduct examination is a review of an insurer's marketplace practices. Your Committee on Conference finds that this measure will enable the Insurance Commissioner to conduct comprehensive and targeted market conduct examinations of an insurer's operations to evaluate compliance with applicable state laws.
Your Committee on Conference has amended this measure by:
(1) Inserting appropriation amounts of $318,000 for fiscal year 2007-2008 and $365,000 for fiscal year 2008-2009 to carry out the provisions of this bill; and
(2) Changing the effective date to July 1, 2007.
As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 90, H.D. 2, S.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 90, H.D. 2, S.D. 2, C.D. 1.
Respectfully submitted on behalf of the managers:
ON THE PART OF THE SENATE |
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ON THE PART OF THE HOUSE |
____________________________ BRIAN T. TANIGUCHI, Chair |
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____________________________ ROBERT N. HERKES, Co-Chair |
____________________________ ROSALYN H. BAKER, Co-Chair |
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____________________________ MICHAEL Y. MAGAOAY, Co-Chair |
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