STAND. COM. REP. NO. 2733
Honolulu, Hawaii
RE: S.B. No. 2493
S.D. 2
Honorable Ronald D. Kouchi
President of the Senate
Twenty-Ninth State Legislature
Regular Session of 2018
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred S.B. No. 2493, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO INSURANCE,"
begs leave to report as follows:
The purpose and intent of this measure is to delay the implementation until January 1, 2020, of the producer licensing requirements amended by Act 152, Session Laws of Hawaii 2017.
Your Committee received written comments in support of this measure from the Hawaii Insurers Council and the National Association of Insurance and Financial Advisors – Hawaii.
Your Committee received comments on this measure from the Department of Commerce and Consumer Affairs.
Your Committee received written comments in opposition to this measure from one individual.
Your Committee finds that Act 152, Session Laws of Hawaii 2017, conforms the State's producer licensing requirements to the National Association of Insurance Commissioners' Producer Licensing Model Act by eliminating producer-to-producer appointments. Due to the large number of independent producers in Hawaii and the number of contracts between insurers and independent producers that need to be finalized, however, a delay in implementation of the producer licensing requirements is needed in order to ensure full compliance.
Your Committee has amended this measure by making technical nonsubstantive changes for purposes of clarity, consistency, and style.
As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2493, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2493, S.D. 2.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
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________________________________ DONOVAN M. DELA CRUZ, Chair |
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