STAND. COM. REP. NO. 1977

Honolulu, Hawaii

, 2019

RE: S.B. No. 25

S.D. 2

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 25, S.D. 2, 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 make housekeeping and other changes to the Insurance Code (chapter 431, Hawaii Revised Statutes) to improve the regulation of insurance in the State, including establishing requirements for licensees' proposed name changes and use of a trade name or assumed name for registration with the Department of Commerce and Consumer Affairs.

The American Council of Life Insurers, Hawaii Captive Insurance Council, and two individuals testified in support of this measure. The Department of Commerce and Consumer Affairs, Board of Nursing, Board of Pharmacy, Daniel K. Inouye College of Pharmacy of the University of Hawai‘i at Hilo, Hawaii Medical Service Association, Kaiser Permanente, Hawaii Insurers Council, and an individual provided comments on this measure.

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. 25, S.D. 2, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair