Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Consumer Protection & Commerce, to which was referred H.C.R. No. 83 entitled:

begs leave to report as follows:

The purpose of concurrent resolution is to request the Insurance Division of the Department of Commerce and Consumer Affairs to conduct a review of the National Conference of Insurance Legislators (NCOIL), Property-Casualty Insurance Modernization Act as amended on November, 2003.

Testimony in support of this measure was received from the Insurance Commissioner and State Farm Insurance Companies. The Hawaii Insurers Council testified in support of the intent of this concurrent resolution.

Your Committee finds that insurance rates are subject to prior approval by the Insurance Commissioner and that this system of regulation has not been reviewed since it was adopted. NCOIL's Property-Casualty Insurance Modernization Act may provide a regulatory alternative that protects consumers while providing a more competitive and less onerous regulatory environment for Hawaii's property-casualty insurers.

As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 83 and recommends its adoption.