STAND. COM. REP. NO.  1705

 

Honolulu, Hawaii

                , 2017

 

RE:   S.B. No. 953

      S.D. 2

      H.D. 1

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred S.B. No. 953, S.D. 2, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO INSURANCE,"

 

begs leave to report as follows:

 

     The purpose of this measure is to make various housekeeping amendments to the State's Insurance Code.  Specifically, this measure clarifies insurer responsibility for tax and fees in total loss motor vehicle claims, application procedures for certificates of authority, requirements for nonresident adjusters in a disaster event, requirements for appointment and termination of an insurance producer, and the Insurance Commissioner's authority to issue summary orders for supervision of an insurer for the protection of the public.

 

     Your Committee received comments on this measure from the Department of Commerce and Consumer Affairs, National Association of Insurance and Financial Advisors, American Council of Life Insurers, and USAA.

 

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 953, S.D. 2, H.D. 1, and recommends that it pass Third Reading.

 

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

 

 

 

 

____________________________

SYLVIA LUKE, Chair