STAND.
COM. REP. NO. 1648-18
Honolulu, Hawaii
, 2018
RE: H.C.R. No. 87
Honorable Scott K. Saiki
Speaker, House of Representatives
Twenty-Ninth State Legislature
Regular Session of 2018
State of Hawaii
Sir:
Your Committee on Consumer Protection & Commerce, to which was referred H.C.R. No. 87 entitled:
"HOUSE CONCURRENT RESOLUTION REQUESTING THE INSURANCE COMMISSIONER CONVENE AN INSURANCE MODERNIZATION WORKING GROUP TO UPDATE AND MODERNIZE THE STATE'S PROPERTY AND CASUALTY INSURANCE AND LIFE INSURANCE LAWS,"
begs leave to report as follows:
The purpose of this measure is to convene an Insurance Modernization Working Group (Working Group) to update and modernize the State's property and casualty insurance and life insurance laws to account for market and technology innovations and changing customer expectations.
The Insurance Division of the Department of Commerce and Consumer Affairs, State Farm Mutual Automobile Insurance Company, and Oahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i testified in support of this measure. The National Association of Insurance and Financial Advisors Hawaii provided comments.
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. 87 and recommends that it be referred to your Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,
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____________________________ ROY M. TAKUMI, Chair |
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