STAND. COM. REP. NO. 1151-06

Honolulu, Hawaii

, 2006

RE: S.B. No. 2282

S.D. 2

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Consumer Protection & Commerce, to which was referred S.B. No. 2282, S.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO INSURANCE,"

begs leave to report as follows:

The purpose of this bill is to improve Department of Commerce and Consumer Affairs Insurance Division efficiency by updating and streamlining the insurance statutes in conformity with federal law and national standards.

The Insurance Commissioner of the Department of Commerce and Consumer Affairs and State Farm Insurance Companies supported this bill. National Association of Insurance and Financial Advisors Hawaii supported this measure in part.

Your Committee has amended this bill by:

(1) Replacing its substance with that of H.B. No. 2319, H.D. 1, a similar measure that was reported out of your Committee earlier during the session; and

(2) Changing its effective date to July 1, 2050.

As amended, this bill contains technical, nonsubstantive differences from the S.D. 2.

As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2282, S.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2282, S.D. 2, H.D. 1, and be referred to the Committee on Finance.

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

 

____________________________

ROBERT N. HERKES, Chair