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 and Commerce, to which was referred H.B. No. 645 entitled:

begs leave to report as follows:

The purpose of this bill is to improve the operational efficiency of the Department of Commerce and Consumer Affairs (DCCA) by updating and streamlining the insurance statutes to conform to federal law and national standards.

Testimony in support of this bill was received from the Insurance Commissioner (Commissioner) on behalf of DCCA. The American Council of Life Insurers commented.

Your Committee finds that DCCA is continuing its efforts to modernize Hawaii's insurance laws and ease insurers' filing requirements, while protecting consumer interests and bringing Hawaii's insurance laws into conformity with federal and national standards.

Your Committee has amended this bill by providing an effective date of July 1, 2050, in the interest of facilitating further discussion on this matter. Technical, nonsubstantive amendments were also made for 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. 645, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 645, H.D. 1, and be referred to the Committee on Judiciary.