STAND. COM. REP. NO. 1401
RE: S.B. No. 1098
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirty-First State Legislature
Regular Session of 2021
State of Hawaii
Your Committee on Consumer Protection & Commerce, to which was referred S.B. No. 1098, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO THE REGULATORY AUTHORITY OF THE INSURANCE COMMISSIONER,"
begs leave to report as follows:
The purpose of this measure is to adopt certain provisions of the National Association of Insurance Commissioners' Producer Licensing Model Act, Public Adjuster Licensing Model Act, Reinsurance Intermediary Model Act, and Independent Adjuster Licensing Model Guidelines to provide consistency and promote efficiency in processing insurance licensing fees, applications, certificates, registrations, and renewals.
Your Committee finds that this measure consolidates licenses, registrations, and fees issued by the Insurance Division of the Department of Commerce and Consumer Affairs under article 7 of the Insurance Code, relating to fees, taxes, and deposits, which will increase clarity and transparency. Your Committee further finds that this measure will facilitate the Insurance Division's transition to the electronic processing of insurance licensing fees, certificates, registrations, and renewals, which will make this process more efficient, accurate, and timely.
Your Committee has amended this measure by:
(1) Changing the effective date to January 1, 2050, to encourage further discussion; and
(2) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.
As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1098, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1098, S.D. 1, H.D. 1, and be referred to your Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,
AARON LING JOHANSON, Chair