REPORT TITLE:
Insurance; Deductible


DESCRIPTION:
Repeals law providing for covered loss deductible.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
THE SENATE                              S.B. NO.           2565
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO COVERED LOSS DEDUCTIBLE.



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

 1      SECTION 1.  Section 431:10C-301.5, Hawaii Revised Statutes,
 
 2 is repealed.
 
 3      ["431:10C-301.5  Covered loss deductible.  Whenever a
 
 4 person effects a recovery for bodily injury, whether by suit,
 
 5 arbitration, or settlement, and it is determined that the person
 
 6 is entitled to recover damages, the judgment, settlement, or
 
 7 award shall be reduced by $5,000 or the amount of personal injury
 
 8 protection benefits incurred, whichever is greater, up to the
 
 9 maximum limit.  The covered loss deductible shall not include
 
10 benefits paid or incurred under any optional additional
 
11 coverage."]
 
12      SECTION 2.  Statutory material to be repealed is bracketed.
 
13      SECTION 3.  This Act shall take effect upon its approval.
 
14 
 
15                              INTRODUCED BY:______________________