(a) A purchasing group that intends to do business in this State shall furnish, on forms prescribed by the National Association of Insurance Commissioners, notice to the commissioner that shall include the following:

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Terms Used In Hawaii Revised Statutes 431K-7

  • Commissioner: means the insurance commissioner of this State. See Hawaii Revised Statutes 431K-1
  • Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk which is determined to be insurance under the laws of this State. See Hawaii Revised Statutes 431K-1
  • Liability: means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses because of injuries to other persons, damage to their property, or other damage or loss to those other persons resulting from or arising out of:

    (1) Any business, whether for profit or nonprofit, trade, product, services, including professional services, premises, or operations; or

    (2) Any activity of any state or county government, or any agency or political subdivision;

    but does not include personal risk liability and an employer's liability with respect to its employees other than legal liability under the Federal Employers' Liability Act, 45 U. See Hawaii Revised Statutes 431K-1

  • Purchasing group: means any group which:

    (1) Has as one of its purposes the purchase of liability insurance on a group basis;

    (2) Purchases this insurance only for its group members and only to cover their similar or related liability exposure, as described in [paragraph (3)];

    (3) Is composed of members whose businesses or activities are similar or related with respect to the liability to which members are exposed by virtue of any related, similar, or common business, trade, product, services, premises, or operations; and

    (4) Is domiciled in any state. See Hawaii Revised Statutes 431K-1

  • Risk retention group: means any corporation or other limited liability association formed under the laws of any state, Bermuda, or the Cayman Islands:

    (1) Whose primary activity consists of assuming and spreading all, or any portion, of the liability exposure of its group members;

    (2) Which is organized for the primary purpose of conducting the activity described under paragraph (1);

    (3) Which:

    (A) Is chartered and licensed as a liability insurance company and authorized to engage in the business of insurance under the laws of any state; or

    (B) Before January 1, 1985, was chartered or licensed and authorized to engage in the business of insurance under the laws of Bermuda or the Cayman Islands and, before this date, had certified to the insurance commissioner of at least one state that it satisfied the capitalization requirements of that state, except that any group shall be considered to be a risk retention group only if the group has been engaged in business continuously since this date and only for the purpose of continuing to provide insurance to cover product liability or completed operations liability, as defined in the Product Liability Risk Retention Act of 1981, 15 U. See Hawaii Revised Statutes 431K-1

  • State: means any state of the United States or the District of Columbia. See Hawaii Revised Statutes 431K-1
(1) Identification of the state in which the group is domiciled;
(2) Specification of the lines and classifications of liability insurance that the purchasing group intends to purchase;
(3) Identification of the insurance company or risk retention group from which the group intends to purchase its insurance and the domicile of the company or risk retention group; and
(4) Identification of the principal place of business of the group.
(b) The commissioner may require a purchasing group to provide the following information:

(1) The method by which, and the person or persons through whom, insurance will be offered to its members whose risks are resident or located in this State;
(2) Identify all other states in which the group intends to do business; and
(3) Provision of other information to verify that the purchasing group qualifies as such under § 431K-1.
(c) The purchasing group shall register with and designate the commissioner or other appropriate authority as its agent solely for the purpose of receiving service of legal documents or process, except that these requirements shall not apply in the case of a purchasing group that:

(1) Was domiciled before April 1, 1986, and is domiciled on and after October 27, 1986, in any state of the United States;
(2) Before October 27, 1986, purchased insurance from an insurance carrier licensed in any state, and since October 27, 1986, purchased its insurance from an insurance carrier licensed in any state;
(3) Was a purchasing group under the requirements of the Product Liability Risk Retention Act of 1981, 15 U.S.C. § 3901 et seq., before October 27, 1986; and
(4) Does not purchase insurance that was not authorized for purposes of an exemption under that Act, as in effect before October 27, 1986.
(d) Within ten days a purchasing group shall notify the commissioner of any changes in any of the items set forth in subsections (a) and (b).

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