Hawaii HB21 amends insurance association powers and duties, including plan formulation, member insurer assessments, and statistical information.

Hawaii HB21 amends Section 431:21-105 of the Hawaii Revised Statutes to redefine the powers and duties of an insurance association. The association must formulate and administer a plan of operation to insure persons with an insurable interest in real or tangible personal property, including commercial risks with commissioner approval. It must also employ or retain necessary personnel, contract with a member insurer, and negotiate contracts approved by the commissioner.

Hawaii HB21 amends insurance association powers and duties, including plan formulation, member insurer assessments, and statistical information.

Hawaii HB21 amends Section 431:21-105 of the Hawaii Revised Statutes to redefine the powers and duties of an insurance association. The association must formulate and administer a plan of operation to insure persons with an insurable interest in real or tangible personal property, including commercial risks with commissioner approval. It must also employ or retain necessary personnel, contract with a member insurer, and negotiate contracts approved by the commissioner.