Hawaii Revised Statutes 431:16-113 – Prevention of insolvencies

To aid in the detection and prevention of insurer insolvencies:

(1) The board of directors, upon majority vote, may make recommendations to the commissioner on matters generally related to improving or enhancing regulation for solvency; and

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Terms Used In Hawaii Revised Statutes 431:16-113

Association: means the Hawaii insurance guaranty association created under § 431:16-106. See Hawaii Revised Statutes 431:16-105

(2) At the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, the board of directors may prepare a report on the history and causes of the insolvency, based on the information available to the association, and submit the report to the commissioner.

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Hawaii Revised Statutes 431:16-113 – Prevention of insolvencies

Terms Used In Hawaii Revised Statutes 431:16-113

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