REPORT TITLE:
Insurance


DESCRIPTION:
Exempts bail bond rates from insurance rate filing requirements.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
THE SENATE                              S.B. NO.           970
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO BAIL BONDS.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The purpose of this Act is to clarify that bail
 
 2 bond rates are not subject to insurance rate filing requirements.
 
 3 Specifically, the legislature intends that bail bond rates be
 
 4 regulated under the bail law, rather than the insurance code
 
 5 article on rate regulation.
 
 6      SECTION 2.  Section 431:14-104, Hawaii Revised Statutes, is
 
 7 amended to read as follows:
 
 8      "(a)  Every insurer shall file in triplicate with the
 
 9 commissioner, except as to specific inland marine risks which by
 
10 general custom of the business are not written according to
 
11 manual rate or rating plans[,] and bail bonds issued pursuant to
 
12 section 804-62, every manual of classifications, rules, and
 
13 rates, every rating plan, and every other rating rule, and every
 
14 modification of any of the foregoing which it proposes to use.
 
15 Every filing shall state its proposed effective date, and shall
 
16 indicate the character and extent of the coverage contemplated.
 
17 The filing also shall include a report on investment income."
 
18      SECTION 3.  Statutory material to be repealed is bracketed.
 
19 New statutory material is underscored.
 

 
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                                     S.B. NO.           970
                                                        
                                                        

 
 1      SECTION 4.  This Act shall take effect upon its approval.
 
 2 
 
 3                           INTRODUCED BY:  _______________________