STAND. COM. REP. NO. 1978-18

Honolulu, Hawaii

, 2018

RE: S.B. No. 2643

S.D. 1

H.D. 2

Honorable Scott K. Saiki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 2643, S.D. 1, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO INSURANCE,"

begs leave to report as follows:

The purpose of this measure is to require insurers to provide privacy notices to all continuing customers on a biennial basis rather than an annual basis.

The National Association of Mutual Insurance Companies and American Council of Life Insurers opposed this measure. The Hawaii Medical Service Association provided comments.

Your Committee has amended this measure by:

(1) Changing its effective date to July 1, 2030, to encourage further discussion; and

(2) Making technical, nonsubstantive amendments for clarity, consistency, and style.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2643, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2643, S.D. 1, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

SYLVIA LUKE, Chair