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Act 063, SB1094 SD2 HD1 CD1, 05/28/2015

Posted on Jun 4, 2015 in 2015 Acts

Insurance; Risk Retention; Fraternal Benefit Societies; Financial Condition; Fees; Insurance Contracts; Health Insurance; Rate Regulation; Certificate of Authority

Makes various updates to title 24, HRS, including: making fees consistent for applications and services provided by the insurance division of the department of commerce and consumer affairs to purchasing groups, foreign risk retention groups, insurers subject to chapter 431, HRS, fraternal benefit societies, mutual benefit societies, health maintenance organizations, and dental insurers; enabling the insurance division to recover certain administrative costs associated with the applications process and services provided by the division; prohibiting rerating of rates approved by the insurance commissioner; permitting the suspension, revocation, or denial of a mutual benefit society’s certificate of authority under certain conditions; and making other housekeeping and conforming amendments. (SB1094 SD2 HD1 CD1)