STAND. COM. REP. 41
Honolulu, Hawaii
, 2003
RE: H.B. No. 447
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Second State Legislature
Regular Session of 2003
State of Hawaii
Sir:
Your Committee on Consumer Protection and Commerce, to which was referred H.B. No. 447 entitled:
"A BILL FOR AN ACT RELATING TO CONTINUING EDUCATION FOR INSURANCE LICENSEES,"
begs leave to report as follows:
The purpose of this bill is to:
(1) Establish a certification process and certification requirements for providers of continuing education courses for insurance licensees; and
(2) Authorize the formation of an advisory committee to assist the Insurance Commissioner in establishing policies, procedures, and rules to implement the law.
Testimony in support of this measure was submitted by Professional Insurance Agents of Hawaii and the Association of Insurance and Financial Advisors. The Insurance Division of the Department of Commerce and Consumer Affairs testified in support and requested an amendment. Testimony in support of the intent of the measure was submitted by Hawaii Independent Insurance Agents Association.
Your Committee finds that quality continuing education programs for Hawaii's insurance licensees are necessary if they are to compete with professionals from other states in the current insurance business world, which is evolving into an interstate business. Quality programs will also allow insurance professionals to meet education requirements in other states and conduct business in other states more efficiently.
Your Committee finds that it is important to provide additional time to process continuing education course provider certificate renewal notices filed later in the year. This will conserve resources by preventing the need for additional positions and funding. Thus, your Committee has amended the language in the bill that states that provider certificates will expire on July 1, of the following year, by adding language that delays the expiration date to July 1 of the year after that, for applications filed in the months of July through December.
Technical, nonsubstantive amendments have also been made for purposes of clarity, consistency, and style.
As affirmed by the record of votes of the members of your Committee on Consumer Protection and Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 447, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 447, H.D. 1, and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Consumer Protection and Commerce,
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____________________________ KENNETH T. HIRAKI, Chair |
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