Bill Text: HI HB317 | 2011 | Regular Session | Introduced
Bill Title: Motor Vehicle Insurance; Cancellation
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-01-24 - (H) Referred to TRN, CPC, referral sheet 1 [HB317 Detail]
Download: Hawaii-2011-HB317-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
317 |
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TWENTY-SIXTH LEGISLATURE, 2011 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO INSURANCE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 431:10C-111, Hawaii Revised Statutes, is amended as follows:
1. By amending subsection (a) to read:
"(a) An insurer may not cancel or refuse to renew a motor vehicle insurance policy, including optional additional insurance under the requirements of section 431:10C-302, once issued except when:
(1) The license of the principal operator to operate the type of motor vehicle is suspended or revoked;
(2) Premium payments for the policy are not made after reasonable demand therefor;
(3). The nonrenewal or conditional renewal is
limited in accordance with section 431:10C-111.5; [or]
(4). A
motor vehicle insurance policy has been in effect for sixty days or less and
cancellation of the policy is not based on any of the criteria prohibited by
subsection (c)[.]; or
(5). The policy is transferred to an affiliate or subsidiary of the insurer, and such transfer will result in a lower premium rate than would otherwise be available under the original policy."
2. By amending subsection (d) to read:
"(d) An insurer may also refuse to renew motor vehicle insurance policies:
(1) If the commissioner determines that the financial soundness of the insurer would be impaired by the writing of additional policies of insurance; or
(2) [The] If the
insurer ceases to write any new policies of insurance of any kind in this [State.]
state."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Motor Vehicle Insurance; Cancellation
Description:
Allows an insurer to cancel or refuse to renew a motor vehicle policy where the policy is transferred to an affiliate or subsidiary of the insurer, and the premium rate is reduced by the transfer.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
