STAND. COM. REP. NO. 606

Honolulu, Hawaii

RE:    S.B. No. 952

       S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Commerce, Consumer Protection, and Health, to which was referred S.B. No. 952 entitled:

"A BILL FOR AN ACT RELATING TO INSURANCE,"

begs leave to report as follows:

     The purpose and intent of this measure is to:

     (1)  Provide the Insurance Commissioner with express prior approval authority over long-term care insurance rates; and

     (2)  Make housekeeping amendments.

     Your Committee received testimony in support of this measure from the Department of Commerce and Consumer Affairs.

     Your Committee finds that this measure clarifies that the Insurance Commissioner has express prior approval authority over long-term care insurance rates, which ensures that consumers are not being charged excessive rates for long-term care insurance, while also maintaining a fair marketplace for insurers.

     Your Committee has amended this measure by making technical, nonsubstantive amendments for the purposes of clarity and consistency.

     As affirmed by the record of votes of the members of your Committee on Commerce, Consumer Protection, and Health that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 952, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 952, S.D. 1, and be placed on the calendar for Third Reading.

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

________________________________

ROSALYN H. BAKER, Chair