STAND. COM. REP. NO.1034

Honolulu, Hawaii

, 2003

RE: H.B. No. 320

H.D. 2

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Education, to which was referred H.B. No. 320, H.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO RISK MANAGEMENT,"

begs leave to report as follows:

The purpose of this measure is to establish the University of Hawaii risk management special fund and to allow the University to indemnify certain individuals or entities under limited circumstances.

Testimony in support of this measure was submitted by the University of Hawaii.

Your Committee finds that beginning in 2001, the University of Hawaii was instructed by the Legislature to pay its own legal claims and settlements from its own revenue sources, and the special fund established by this measure will provide a mechanism for such expenditures. Your Committee further finds that after evaluating the cost of various insurance policies, the University has determined that it is more cost-effective to assume the responsibility for managing its own risk exposure, and thereby provide additional flexibility for the indemnification of public/private research projects.

As affirmed by the record of votes of the members of your Committee on Education that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 320, H.D. 2, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Education,

____________________________

NORMAN SAKAMOTO, Chair