The 2021 legislative session has adjourned with three insurance-related bills passed and sent to the governor. The bills are as follows:
SB1096 - The bill makes several additions to the Insurance Code, Chapter 431. It includes various consumer protections with regard to public adjusters. The bill requires contractual terms and disclosures, as well as granting a right to rescind. A standard of conduct is imposed on various entities, including limited line licensees. The bill also touches on motor vehicle rental companies, self-service storage, limited line licenses, and surplus line coverage.
SB1098 - This statute would adopt certain provisions of the National Associatio of Insurance Commissioners' Producer Licensing Model Act, the Public Adjuster Licensing Model Act, the Reinsurance Intermediary Model Act, and Independent Adjuster Licensing Model Guidelines to provide consistency and promote efficiency in processing insurance licensing fees, applications, certificates, regulations and renewals.
SB1100 - This legislation adopts the National Association of Insurance Commissioners' Insurance Data Security Model Law to establish insurance data security standard for Hawaii insurance licenses.
