Hawaii HB21 amends insurance regulations to enhance the powers and duties of an insurance association.
Hawaii HB21 modifies the powers and duties of an insurance association, allowing it to formulate and administer a plan of operation to insure persons with an insurable interest in real or tangible personal property. The association can assess member insurers to cover extraordinary losses, reimburse servicing facilities, and collect required statistical information. It can also contract with member insurers, sue or be sued, borrow funds, and perform other necessary acts. The bill repeals and replaces existing statutory material.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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