Amends Hawaii insurance regulations to modify examination requirements for captive insurance companies.

The bill amends Hawaii Revised Statutes to change the examination requirements for captive insurance companies. It allows the commissioner to exempt certain companies from regular examinations if they meet specific criteria, such as continuous compliance with financial reporting and other provisions. The exemption certificate is valid for up to five years and can be renewed. The bill also specifies conditions under which examinations can be conducted and how information is shared with other jurisdictions.

Amends Hawaii insurance regulations to modify examination requirements for captive insurance companies.

The bill amends Hawaii Revised Statutes to change the examination requirements for captive insurance companies. It allows the commissioner to exempt certain companies from regular examinations if they meet specific criteria, such as continuous compliance with financial reporting and other provisions. The exemption certificate is valid for up to five years and can be renewed. The bill also specifies conditions under which examinations can be conducted and how information is shared with other jurisdictions.