STAND. COM. REP. NO.  1017

Honolulu, Hawaii

                , 2011

RE:   S.B. No. 123

      S.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sir:

     Your Committee on Consumer Protection & Commerce, to which was referred S.B. No. 123, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO INSURANCE RECORDS,"

begs leave to report as follows:

     The purpose of this bill is to exempt insurance producers from specified recordkeeping requirements for motor vehicle and homeowners' insurance contracts, provided the records of these types of insurance are:

     (1)  Maintained electronically;

     (2)  Accessible by the producer; and

     (3)  Available within one business day.

     The Department of Commerce and Consumer Affairs and State Farm Insurance Companies supported this bill.

     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 is in accord with the intent and purpose of S.B. No. 123, S.D. 1, and recommends that it pass Second Reading and be placed on the calendar for Third Reading.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

____________________________

ROBERT N. HERKES, Chair