HI SB325 | 2024 | Regular Session
Note: Carry Over of previous SB325
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 19 2023 - 25% progression
Action: 2023-12-11 - Carried over to 2024 Regular Session.
Pending: Senate Commerce and Consumer Protection Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 19 2023 - 25% progression
Action: 2023-12-11 - Carried over to 2024 Regular Session.
Pending: Senate Commerce and Consumer Protection Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Requires sponsored captive insurance companies to maintain separate protected cells for separate participant contracts. Except for risk retention captive insurance companies, authorizes captive insurance companies to apply for a certificate of exemption from examination from the Insurance Commissioner, provided certain conditions are met. Requires protected cells established by sponsored captive insurance companies to be approved by the Insurance Commissioner. Authorizes sponsored captive insurance companies to establish and maintain protected cells to insure risks of parties unaffiliated with a participant under certain circumstances. Requires a participant, through a sponsored captive insurance company, to insure only risks approved by the Insurance Commissioner.
Title
Relating To Insurance.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2023-12-11 | Carried over to 2024 Regular Session. | |
| 2023-01-25 | Senate | Referred to CPN. |
| 2023-01-19 | Senate | Passed First Reading. |
| 2023-01-19 | Senate | Introduced. |
Same As/Similar To
SB325 (Carry Over) 2023-01-25 - Referred to CPN.
Subjects
Hawaii State Sources
| Type | Source |
|---|---|
| Summary | https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=325&year=2024 |
| Text | https://www.capitol.hawaii.gov/sessions/session2024/bills/SB325_.HTM |
