SB166

SB166 amends Hawaii insurance regulations to modify examinations and exemptions for captive insurance companies.

SB166 amends Hawaii insurance regulations to modify examinations and exemptions for captive insurance companies. Branch captive insurance companies must file annual compliance certificates with the commissioner by March 1. Examinations focus on business underwritten in Hawaii unless otherwise deemed necessary. The commissioner can grant exemptions from examinations for up to five years if certain conditions are met. Examination reports and related information remain confidential and are not subject to subpoena or public disclosure without consent.