STAND. COM. REP. NO. 1647-18

Honolulu, Hawaii

, 2018

RE: H.R. No. 71

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.R. No. 71 entitled:

"HOUSE 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 testified in support of this measure. The National Association of Insurance and Financial Advisors Hawaii provided comments.

Your Committee notes that the Insurance Commissioner requested in testimony that the scope of the Working Group be expanded to examine, update, and modernize the entirety of Title 24, Hawaii Revised Statutes, which are the statutory provisions relating to insurance.

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.R. No. 71 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,

____________________________

ROY M. TAKUMI, Chair