Hawaii Senate Bill 325 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 19 2023 - 25% progression, died in committee
Action: 2023-01-25 - Referred to CPN.
Pending: Senate Commerce and Consumer Protection Committee
Text: Latest bill text (Introduced) [HTML]

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.

Relating To Insurance.

Sen. Stanley Chang [D]

Date	Chamber	Action
2023-01-25	Senate	Referred to CPN.
2023-01-19	Senate	Passed First Reading.
2023-01-19	Senate	Introduced.

SB325 (Carry Over) 2023-01-25 - Referred to CPN.

Type	Source
Summary	https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=325&year=2023
Text	https://www.capitol.hawaii.gov/sessions/session2023/bills/SB325_.HTM