reglab/statecodes huggingface dataset:
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 169 - ACTUARIAL OPINION AND MEMORANDUM › Subchapter 2 - PROPERTY AND CASUALTY INSURANCE COMPANIES › Section 16-169-10 - Scope and statement of actuarial opinion

Current through June, 2024
Every property and casualty insurance company domiciled in
				  this State, unless otherwise exempted by the commissioner, shall annually
				  submit to the commissioner the opinion of an appointed actuary entitled
				  "Statement of Actuarial Opinion." The statement of actuarial opinion shall be
				  filed in accordance with the applicable NAIC Property and Casualty Annual
				  Statement Instructions and shall be treated as a public document.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 169 - ACTUARIAL OPINION AND MEMORANDUM › Subchapter 2 - PROPERTY AND CASUALTY INSURANCE COMPANIES › Section 16-169-11 - Actuarial opinion summary

Current through June, 2024
Every property and casualty insurance company domiciled in
				  this State shall be required to annually submit a statement of actuarial
				  opinion along with an actuarial opinion summary, written by the company's
				  appointed actuary. This actuarial opinion summary shall be filed in accordance
				  with the applicable NAIC Property and Casualty Annual Statement Instructions
				  and shall be considered as a document supporting the statement of actuarial
				  opinion required in §
									16-169-10. The actuarial opinion
				  summary shall be confidential in accordance with HRS §
									431:3-304.5.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 169 - ACTUARIAL OPINION AND MEMORANDUM › Subchapter 2 - PROPERTY AND CASUALTY INSURANCE COMPANIES › Section 16-169-12 - Foreign and alien companies

Current through June, 2024
A company licensed but not domiciled in this state shall
				  provide the actuarial opinion summary upon the commissioner's request.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 169 - ACTUARIAL OPINION AND MEMORANDUM › Subchapter 2 - PROPERTY AND CASUALTY INSURANCE COMPANIES › Section 16-169-13 - Actuarial report and workpapers

Current through June, 2024
An actuarial report and underlying workpapers as required by
				  the applicable NAIC property and casualty annual statement instructions shall
				  be prepared to support each actuarial opinion.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 169 - ACTUARIAL OPINION AND MEMORANDUM › Subchapter 3 - INSURANCE COMPANIES, MUTUAL BENEFIT SOCIETIES, AND FRATERNAL BENEFIT SOCIETIES AUTHORIZED AS ACCIDENT AND HEALTH OR SICKNESS INSURERS › Section 16-169-16 - Scope

Current through June, 2024
This subchapter shall apply to all health insurance
				  companies, including accident and health or sickness insurers, mutual benefit
				  societies, fraternal benefit societies, health maintenance organizations, and
				  other health insurers.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 169 - ACTUARIAL OPINION AND MEMORANDUM › Subchapter 3 - INSURANCE COMPANIES, MUTUAL BENEFIT SOCIETIES, AND FRATERNAL BENEFIT SOCIETIES AUTHORIZED AS ACCIDENT AND HEALTH OR SICKNESS INSURERS › Section 16-169-17 - Statement of actuarial opinion

Current through June, 2024
All health insurance companies, including accident and
				  health or sickness insurers, mutual benefit societies, fraternal benefit
				  societies, and health maintenance organizations, and other health insurers
				  shall prepare the Statement of Actuarial Opinion in accordance with the NAIC's
				  annual statement instructions following the practices and procedures prescribed
				  by the NAIC's Accounting Practices and Procedures manuals.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 169 - ACTUARIAL OPINION AND MEMORANDUM › Appendix A - Reserves and Related Actuarial Items

Current through June, 2024
Asset Adequacy Tested
						  Amounts Reserves and Liabilities
Statement Item
Formula Reserves
(1)
Additional Actuarial (a) Reserves
(2)
Analysis Method (b)
Other Amount
(3)
Total Amount (1)+(2)+(3) =
(4)
Exhibit 8
A Life Insurance
B Annuities
C Supplementary Contracts Involving Life Contingencies
D Accidental Death Benefit
E Disability - Active
F Disability - Disabled
G Miscellaneous
Total (Exhibit 8 Item 1, Page 3)
Exhibit 9
A Active Life Reserve
B Claim Reserve
Total (Exhibit 9 Item 2, Page 3)
Exhibit 10
Premiums and Other Deposit Funds
Policyholder Premiums (Page 3, Line 10.1)
Guaranteed Interest Contracts (Page 3, Line 10.2)
Other Contract Deposit Funds (Page 3, Line 10.3)
Supplementary Contracts Not Involving Life Contingencies
						  (Page 3, Line 3)
Dividend and Coupon Accumulations (Page 3, Line 5)
Total Exhibit 10
Exhibit 11 Part 1
1 Life (Page 3, Line 4.1)
2 Health (Page 3, Line 4.2)
Total Exhibit 11, Part 1
Separate Accounts (Page 3, Line 27)
TOTAL RESERVES
IMR (General Account Page ___ Line ___)
(SEPARATE ACCOUNTS, PAGE LINE )
AVR (Page ___ Line ___)
(c)
NET DEFERRED AND UNCOLLECTED PREMIUM
Notes:
(a)
The additional actuarial reserves
			 are the reserves established under paragraphs (2) or (3) of section
			 16-169-4(e), Hawaii Administrative Rules.
(b)
The appointed actuary should
			 indicate the method of analysis, determined in accordance with the standards
			 for asset adequacy analysis referred to in section 16-169-4(d), Hawaii
			 Administrative Rules, by means of symbols which should be defined in footnotes
			 to the table.
(c)
Allocated amount of Asset Valuation Reserve (AVR).
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 170 - DISCLOSURE OF MATERIAL TRANSACTIONS › Section 16-170-1 - Report

Current through June, 2024
(a) Every insurer domiciled in this State
			 shall file a report with the commissioner disclosing material acquisitions and
			 dispositions of assets or material nonrenewals, cancellations, or revisions of
			 ceded reinsurance agreements or material new ceded reinsurance agreements
			 affecting in force life insurance business unless the acquisitions and
			 dispositions of assets or material nonrenewals, cancellations, or revisions of
			 ceded reinsurance agreements or material new ceded reinsurance agreements
			 affecting in force life insurance business have been submitted to the
			 commissioner for review, approval, or information purposes pursuant to other
			 provisions of the insurance code, laws, rules, or other requirements.
(b) The report required in subsection (a) is
			 due within fifteen days after the end of the calendar month in which any of the
			 foregoing transactions occur.
(c)
			 One complete copy of the report, including any exhibits or other attachments,
			 shall be filed with:
(1) The insurance
			 department of the insurer's state of domicile; and
(2) The National Association of Insurance
			 Commissioners.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 170 - DISCLOSURE OF MATERIAL TRANSACTIONS › Section 16-170-1.5 - Definitions

Current through June, 2024
As used in this chapter:
"Material transaction" means an insurer's acquisition or
				disposition of assets or the nonrenewal, cancellation, or revision of a ceded
				reinsurance agreement or a new ceded reinsurance agreement affecting in force
				life insurance business. A material transaction subject to the reporting
				requirements is identified in sections
				16-170-2 and
				16-170-3.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 170 - DISCLOSURE OF MATERIAL TRANSACTIONS › Section 16-170-2 - Acquisitions and dispositions of assets

Current through June, 2024
(a) Materiality. No
			 acquisitions or dispositions of assets need be reported pursuant to section
			 16-170-1 if the acquisitions or dispositions are not material. For purposes of
			 this chapter, a material acquisition (or the aggregate of any series of related
			 acquisitions during any thirty-day period) or disposition (or the aggregate of
			 any series of related dispositions during any thirty-day period) is one that is
			 non-recurring and not in the ordinary course of business and involves more than
			 five per cent of the reporting insurer's total admitted assets as reported in
			 its most recent statutory statement filed with the insurance department of the
			 insurer's state of domicile.
(b)
			 Scope.
(1) Asset acquisitions subject to this
			 chapter include every purchase, lease, exchange, merger, consolidation,
			 succession, or other acquisition other than the construction or development of
			 real property by or for the reporting insurer or the acquisition of materials
			 for such purpose.
(2) Asset
			 dispositions subject to this chapter include every sale, lease, exchange,
			 merger, consolidation, mortgage, hypothecation, assignment (whether for the
			 benefit of creditors or otherwise), abandonment, destruction, or other
			 disposition.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 170 - DISCLOSURE OF MATERIAL TRANSACTIONS › Section 16-170-3 - Nonrenewals, cancellations, or revisions of ceded reinsurance agreements

Current through June, 2024
(a) Materiality and scope.
(1) No nonrenewals, cancellations, or
			 revisions of ceded reinsurance agreements or new ceded reinsurance agreements
			 affecting in force life insurance business need be reported pursuant to section
			 16-170-1 if the nonrenewals, cancellations, or revisions of ceded reinsurance
			 agreements or new ceded reinsurance agreements affecting in force life
			 insurance business are not material. For purposes of this chapter, a material
			 nonrenewal, cancellation, or revision of a ceded reinsurance agreement or a
			 material new ceded reinsurance agreement affecting in force life insurance
			 business is one that affects:
(A) As respects
			 property and casualty business, including accident and health business written
			 by a property and casualty insurer:
(i) More
			 than fifty per cent of the insurer's total ceded written premium; or
(ii) More than fifty per cent of the
			 insurer's total ceded indemnity and loss adjustment reserves.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 1 - GENERAL PROVISIONS › Section 16-171-101 - Definitions

Current through June, 2024
As used in this chapter:
"Commissioner" means the insurance commissioner.
"Enrollee" means a person covered for health insurance by the
				  insurer.
"Insured" means a person covered for insurance by the
				  insurer.
"Insurer" means a person defined as an insurer pursuant to
				  section
				  431:1-202, Hawaii
				  Revised Statutes ("HRS").
"Managed care plan" means a health plan defined as a managed
				  care plan pursuant to section
				  431:14G-102,
				  HRS.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 1 - GENERAL PROVISIONS › Section 16-171-103 - Written notice to claimants of payment of claims in third-party settlements

Current through June, 2024
(a) Upon payment in
				settlement of any third-party liability claim, the insurer shall provide
				written notice to the claimant where:
(1) The
				claimant is a natural person; and
(2) The payment is delivered to the
				claimant's lawyer by draft, check, or otherwise.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 2 - HEALTH PROVISIONS › Section 16-171-201 - Disclosure to enrollee or authorized representative

Current through June, 2024
(a)
				Upon written request and payment of fifty dollars to a managed care plan by an
				enrollee or authorized representative, a managed care plan shall deliver,
				within ten business days of that request, to that enrollee or authorized
				representative data that forms the basis for the premium rates that the managed
				care plan seeks to charge the enrollee in the next enrollment period.
(b) Subject to subsection (c), the enrollee
				or authorized representative may request all pertinent information as to the
				rate including, but not limited to, the managed care plan's data for the
				enrollee relating to:
(1) Loss
				trend;
(2) Loss ratio;
(3) Annual financial statements of the
				managed care plan; and
(4) Its rate
				filing.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 2 - HEALTH PROVISIONS › Section 16-171-202 - Accident and health or sickness filing requirement

Current through June, 2024
Notwithstanding the need to have a plan qualified under
				  section
				  393-7,
				  HRS, a managed care plan shall file accident and health or sickness insurance
				  contract rates with the commissioner that comply with title 24,
				  HRS.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-301 - Term of license

Current through June, 2024
The term of the license granted pursuant to articles 9 and
				  9A of chapter
				  431, HRS, and article 2 of chapter
				  432, HRS, shall be not less than one
				  year and not more than three years.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-302 - License renewal or extension for a natural person

Current through June, 2024
(a)
				The day for renewal or extension of a license issued to a natural person
				pursuant to articles 9 and 9A of chapter 431, HRS, and article 2 of chapter
				432, HRS, shall be the sixteenth day
				of the licensee's birth month.
(b)
				The year for renewal or extension of a license issued pursuant to articles 9
				and 9A of chapter
				431, HRS, and article 2 of chapter
				432, HRS, to a natural person born in
				even-numbered months shall be the next succeeding even-numbered year. The year
				for renewal or extension of a license issued pursuant to articles 9 and 9A of
				chapter
				431, HRS, and article 2 of chapter
				432, HRS, to a natural person born in
				odd-numbered months shall be the next succeeding odd-numbered year.
(c) The term of a license issued pursuant to
				articles 9 and 9A of chapter
				431, HRS, and article 2 of chapter
				432, HRS, shall be not less than one
				year and no more than three years, as determined by the commissioner.
(d) This section shall not apply to provider
				certificates issued for continuing education courses.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-303 - Term of surplus lines broker; license

Current through June, 2024
The term of the surplus lines broker license issued pursuant
				  to article 8 of chapter
				  431, HRS, shall be the same as the
				  licensee's producer license issued pursuant to article 9A of chapter
				  431, HRS.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-304 - License renewal or extension for a business entity

Current through June, 2024
(a)
				The day for renewal or extension of a license issued to a business entity
				pursuant to articles 9 and 9A of chapter 431, HRS, shall be the sixteenth day
				of April for a nonresident licensee and the sixteenth day of July for a
				resident licensee.
(b) The year for
				renewal or extension for a nonresident business entity licensee shall be the
				next succeeding even-numbered year.
(c) The year for renewal or extension for a
				resident business entity licensee shall be the next succeeding odd-numbered
				year.
(d) The term of the license
				issued to a business entity pursuant to articles 9 and 9A of chapter
				431, HRS, shall be not less than one
				year and no more than three years, as determined by the commissioner.
(e) This section shall not apply to provider
				certificates issued for continuing education courses.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-305 - Payment of licensing fees and penalties

Current through June, 2024
Prior to the issuance, renewal, or extension of a license,
				  the licensee shall pay all applicable fees and penalties. A service fee,
				  consisting of annual fees for each full year or partial year included in the
				  term, shall be paid by the licensee.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-306 - Continuing education course credit

Current through June, 2024
Credits earned for a continuing education course shall be
				  valid for twenty-four months after the course provider determines that the
				  licensee has successfully completed all course requirements.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-307 - Continuing education requirement for licensee that acquires additional line of authority

Current through June, 2024
Except for nonresident licensees subject to the reciprocity
				  provisions of section
				  431:9A-116(b),
				  HRS, a licensed producer who acquires an additional line of insurance through
				  the examination process within the twenty-three months preceding the producer's
				  renewal or extension date shall complete the continuing education requirement
				  for the additional acquired line by the producer's next succeeding renewal or
				  extension date.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-308 - Continuing education requirement for licensee reactivating a line of authority

Current through June, 2024
Except for nonresident licensees subject to the reciprocity
				  provisions of section
				  431:9A-116(b),
				  HRS, a licensed producer who applies to reactivate a line of authority shall
				  fulfill the continuing education requirement for the line of authority prior to
				  its reactivation.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-309 - Continuing education prerequisite for business entity license renewal

Current through June, 2024
Failure by the designated representative to complete the
				  continuing education requirement on behalf of the business entity shall result
				  in the business entity's and, if applicable, the designated representative's
				  license being automatically placed on "inactive" status.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-310 - Application for approval of a continuing education course

Current through June, 2024
(a)
				A continuing education course provider seeking approval of a continuing
				education course shall submit an application to the commissioner at least sixty
				days prior to the proposed date the course will be offered.
(b) A continuing education course provider
				shall obtain the commissioner's prior approval for the course before
				advertising or soliciting for that course.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-311 - Passing examination score

Current through June, 2024
An applicant for licensure under article 9 or article 9A of
				  chapter
				  431, HRS, or article 2 of chapter
				  432, HRS, shall obtain a score of
				  seventy or higher to pass the examination.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-312 - Term of managing general agent license

Current through June, 2024
The term of licensure for a managing general agent license
				  issued pursuant to article 9C of chapter
				  431, HRS, shall be the same as the
				  licensee's producer license issued pursuant to article 9A of chapter
				  431, HRS.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-314 - Term of reinsurance intermediary broker and reinsurance intermediary manager licenses

Current through June, 2024
The term of licensure for reinsurance intermediary broker
				  and reinsurance intermediary manager licenses issued pursuant to article 9B of
				  chapter
				  431, HRS, shall be the same as the
				  licensee's producer license issued pursuant to article 9A of chapter
				  431, HRS.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-316 - Term of vehicle protection product warrantors registrations

Current through June, 2024
The term of vehicle protection product warrantors'
				  registrations issued pursuant to chapter 481R, HRS, shall be for not more than
				  one year and, unless renewed, shall automatically expire on December 31 of each
				  year.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-317 - Term of service contract provider registrations

Current through June, 2024
The term of service contract providers' registrations issued
				  pursuant to chapter 481X, HRS, shall be for not more than one year and, unless
				  renewed, shall automatically expire on July 15 of each year.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 3 - LICENSING REQUIREMENTS › Section 16-171-318 - Electronic mail address is required of all licensees, registrants, certificate holders, certificate of authority holders

Current through June, 2024
All licensees, registrants, and certificate holders shall
				  provide the commissioner with an electronic mail address to receive
				  communications from the commissioner. Communications sent to the electronic
				  mail address shall be construed as actual notice to the licensee, registrant,
				  certificate holder, or certificate of authority holder for all purposes, but
				  not as a service of legal process.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 4 - CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS › Section 16-171-401 - Purpose

Current through June, 2024
The purpose of this subchapter is to authorize the use of
				  the 2001 Commissioners' Standard Ordinary ("CSO") Mortality Table for the
				  computation of the minimum reserve standard for nonforfeiture and valuation of
				  life insurance policies and contracts.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 4 - CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS › Section 16-171-402 - Definitions

Current through June, 2024
As used in this subchapter:
"2001 CSO Mortality Table" means that mortality table,
				  consisting of separate rates of mortality for male and female lives, developed
				  by the American Academy of Actuaries CSO Task Force from the valuation basic
				  mortality table developed by the Society of Actuaries Individual Life Insurance
				  Valuation Mortality Task Force, and adopted by the National Association of
				  Insurance Commissioners in December 2002 (the 2001 CSO Mortality Table is
				  included in the Proceedings of the NAIC (2nd Quarter
				  2002)). Unless the context indicates otherwise, the "2001 CSO Mortality Table"
				  includes both the ultimate form of that table and the select and ultimate form
				  of that table and includes both the smoker and nonsmoker mortality tables and
				  the composite mortality tables. It also includes both the age-nearest-birthday
				  and age-last-birthday bases of the mortality tables.
"2001 CSO Mortality Table (F)" means that portion of the 2001
				  CSO Mortality Table that consists of the rates of mortality for female
				  lives.
"2001 CSO Mortality Table (M)" means that portion of the 2001
				  CSO Mortality Table that consists of the rates of mortality for male lives from
				  the 2001 CSO Mortality Table.
"Composite mortality tables" means that portion of the 2001
				  CSO Mortality Table that consists of rates of mortality that do not distinguish
				  between smokers and nonsmokers.
"Smoker and nonsmoker mortality tables" means that portion of
				  the 2001 CSO Mortality Table that consists of separate rates of mortality for
				  smokers and nonsmokers.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 4 - CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS › Section 16-171-403 - 2001 CSO Mortality Table

Current through June, 2024
(a) At the election
				of the insurer and for any one or more of the insurer's specified plans of
				insurance and subject to the conditions stated in section
				16-171-404, the 2001 CSO Mortality
				Table may be used as the minimum standard for policies issued on or after
				January 1, 2005, and in sections
				431:5-307
				and
				431:10D-104,
				as applicable. If the insurer elects to use the 2001 CSO Mortality Table, it
				shall do so for both valuation and nonforfeiture purposes.
(b) Subject to the conditions stated in
				section 16-171-404, insurers shall use the
				2001 CSO Mortality Table in determining minimum standards for policies issued
				on and after January 1, 2009, in sections
				431:5-307
				and
				431:10D-104,
				HRS.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 4 - CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS › Section 16-171-404 - Conditions

Current through June, 2024
(a) For each plan of insurance with separate
				rates for smokers and nonsmokers an insurer may use:
(1) Composite mortality tables to determine
				minimum reserve liabilities, minimum cash surrender values, and amounts of
				paid-up nonforfeiture benefits;
(2)
				Smoker and nonsmoker mortality tables to determine the valuation net premiums
				and additional minimum reserves, if any, required by sections
				431:5-307
				and
				431:10D-104,
				HRS, and use composite mortality tables to determine the basic minimum
				reserves, minimum cash surrender values and amounts of paid-up nonforfeiture
				benefits; or
(3) Smoker and
				nonsmoker mortality to determine minimum reserve liabilities, minimum cash
				surrender values, and amounts of paid-up nonforfeiture benefits.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 4 - CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS › Section 16-171-405 - Gender-blended tables

Current through June, 2024
(a) For any
				ordinary life insurance policy delivered or issued for delivery in this State
				on and after January 1, 2005, that utilizes the same premium rates and charges
				for male and female lives or is issued in circumstances where applicable law
				does not permit distinctions on the basis of gender, a mortality table that is
				a blend of the 2001 CSO Mortality Table (M) and the 2001 CSO Mortality Table
				(F) may, at the option of the insurer for each plan of insurance, be
				substituted for the 2001 CSO Mortality Table for use in determining minimum
				cash surrender values and amounts of paid-up nonforfeiture benefits. No change
				in minimum valuation standards is implied by this subsection of the
				subchapter.
(b) The insurer may
				choose from among the blended tables within the 2001 CSO Mortality Table by the
				American Academy of Actuaries CSO Task Force and adopted by the NAIC in
				December 2002.
(c) It shall not, in
				and of itself, be a violation of article 13 of chapter
				431, HRS, for an insurer to issue the
				same kind of policy of life insurance on both a sex-distinct and sex-neutral
				basis.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 5 - PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 16-171-501 - Purpose

Current through June, 2024
The purpose of this subchapter is to recognize, permit, and
				  prescribe the use of mortality tables that reflect differences in mortality
				  between preferred and standard lives in determining minimum reserve liabilities
				  in accordance with sections
				  431:5-307
				  and
				  431:10D-104,
				  HRS.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 5 - PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 16-171-503 - 2001 CSO Preferred Class Structure Table

Current through June, 2024
(a) At the election
				of insurer, for each calendar year of issue, for any one or more specified
				plans of insurance and subject to satisfying the conditions stated in this
				subchapter, the 2001 CSO Preferred Class Structure Mortality Table may be
				substituted in place of the smoker and nonsmoker mortality tables, found in the
				2001 CSO Mortality Table, as the minimum valuation for policies
				issued.
(b) No such election shall
				be made until the insurer demonstrates at least twenty per cent of the business
				to be valued on this table is in one or more of the preferred
				classes.
(c) A table from the 2001
				CSO Preferred Class Structure Mortality Table used in place of a 2001 CSO
				Mortality Table, pursuant to the requirements of this section, will be treated
				as part of the 2001 CSO Mortality Table only for purposes of reserve valuation
				pursuant to the requirements of subchapter 4, title 16, chapter
				171, HAR.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 5 - PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 16-171-504 - Conditions

Current through June, 2024
(a) For each plan of insurance with separate
				rates for preferred and standard nonsmoker lives, an insurer may use the Super
				Preferred Nonsmoker, Preferred Nonsmoker, and Residual Standard Nonsmoker
				tables to substitute for the nonsmoker mortality table found in the 2001 CSO
				Mortality Table to determine minimum reserves. At the time of election and
				annually thereafter, except for business valued under the Residual Standard
				Nonsmoker Table, the appointed actuary shall certify that:
(1) The present value of death benefits over
				the next ten years after the valuation date, using the anticipated mortality
				experience without recognition of mortality improvement beyond the valuation
				date for each class, is less than the present value of death benefits using the
				valuation basic table corresponding to the valuation table being used for that
				class; and
(2) The present value of
				death benefits over the future life of the contracts, using anticipated
				mortality experience without recognition of mortality improvement beyond the
				valuation date for each class, is less than the present value of death benefits
				using the valuation basic table corresponding to the valuation table being used
				for that class.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 6 - MILITARY SALES PRACTICES › Section 16-171-601 - Purpose and authority

Current through June, 2024
(a) The purpose of
				this subchapter is to protect active duty service members of the United States
				Armed Forces from dishonest and predatory insurance sales practices by
				declaring certain identified practices to be false, misleading, deceptive, or
				unfair.
(b) Nothing herein shall be
				construed to create or imply a private cause of action for a violation of this
				subchapter.
(c) This subchapter is
				adopted under the authority of section
				431:2-201.8,
				HRS.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 6 - MILITARY SALES PRACTICES › Section 16-171-604 - Practices declared false, misleading, deceptive, or unfair on a military installation

Current through June, 2024
(a) The following
				acts or practices when committed on a military installation by an insurer or
				insurance producer with respect to the in-person, face-to-face solicitation of
				life insurance are declared to be false, misleading, deceptive, or unfair:
(1) Knowingly soliciting the purchase of any
				life insurance product "door to door" or without first establishing a specific
				appointment for each meeting with the prospective purchaser;
(2) Soliciting service members in a group or
				"mass" audience or in a "captive" audience where attendance is not
				voluntary;
(3) Knowingly making
				appointments with or soliciting service members during their normally scheduled
				duty hours;
(4) Making appointments
				with or soliciting service members in barracks, day rooms, unit areas,
				transient personnel housing, or other areas where the installation commander
				has prohibited solicitation;
(5)
				Soliciting the sale of life insurance without first obtaining permission from
				the installation commander or the commander's designee;
(6) Posting unauthorized bulletins, notices,
				or advertisements;
(7) Failing to
				present DD Form 2885, Personal Commercial Solicitation Evaluation, to service
				members solicited or encouraging service members solicited not to complete or
				submit form DD 2885; or
(8)
				Knowingly accepting an application for life insurance or issuing a policy of
				life insurance on the life of an enlisted member of the United States Armed
				Forces without first obtaining for the insurer's files a completed copy of any
				required form which confirms that the applicant has received counseling or
				fulfilled any other similar requirement for the sale of life insurance
				established by regulations, directives, or rules of the DoD or any branch of
				the Armed Forces.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 6 - MILITARY SALES PRACTICES › Section 16-171-606 - Severability

Current through June, 2024
If any provision of these sections or the application
				  thereof to any person or circumstance is held invalid for any reason, the
				  invalidity shall not affect the other provisions or any other application of
				  these sections, which can be given effect without the invalid provisions or
				  application. To this end, all provisions of these sections are declared to be
				  severable.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 9 - VALUATION OF LIFE INSURANCE POLICIES › Section 16-171-901 - Purpose

Current through June, 2024
(a) The purpose of this subchapter is to
				provide:
(1) Tables of select mortality
				factors and rules for their use;
(2) Rules concerning a minimum standard for
				the valuation of plans with nonlevel premiums or benefits; and
(3) Rules concerning a minimum standard for
				the valuation of plans with secondary guarantees.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 9 - VALUATION OF LIFE INSURANCE POLICIES › Section 16-171-902 - Applicability

Current through June, 2024
(a) This subchapter shall apply to all life
				insurance policies, with or without nonforfeiture values, and subject to the
				exceptions and conditions set forth in subsections (b) and (c).
(b) Exceptions:
(1) This subchapter shall not apply to any
				individual life insurance policy issued on or after the effective date of this
				regulation if the policy is issued in accordance with, and as a result of, the
				exercise of a reentry provision contained in the original life insurance policy
				of the same or greater face amount, issued before the effective date of this
				subchapter, that guarantees the premium rates of the new policy. This
				subchapter also shall not apply to subsequent policies issued as a result of
				the exercise of such a provision, or a derivation of the provision, in the new
				policy;
(2) This subchapter shall
				not apply to any universal life policy that meets all of the following
				requirements:
(A) The universal life policy
				has a secondary guarantee period, if any, that is five years or less;
(B) The specified premium for the secondary
				guarantee period is not less than the net level reserve premium for the
				secondary guarantee period based on the CSO valuation tables as defined in
				section 16-171-903, and the applicable valuation interest rate; and
(C) The initial surrender charge is not less
				than one hundred per cent of the first year annualized specified premium for
				the secondary guarantee period.
(3) This subchapter shall not apply to any
				variable life insurance policy or universal life insurance policy that provides
				for life insurance and the amount or duration of which varies according to the
				investment experience of any separate account or accounts;
(4) This subchapter shall not apply to a
				group life insurance certificate unless the certificate provides for a stated
				or implied schedule of maximum gross premiums required in order to continue
				coverage in force for a period in excess of one year.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 9 - VALUATION OF LIFE INSURANCE POLICIES › Section 16-171-904 - General calculation requirements for basic reserves and premium deficiency reserves

Current through June, 2024
(a) At the election
				of the company for any one or more specified plans of life insurance, the
				minimum mortality standard for basic reserves may be calculated using the 1980
				CSO valuation tables with select mortality factors, or any other valuation
				mortality table adopted by the NAIC. If select mortality factors are elected,
				they may be:
(1) The ten-year select
				mortality factors incorporated into the 1980 amendments to the NAIC Standard
				Valuation Law;
(2) The select
				mortality factors in the Appendix A entitled 'Select Mortality Factors" dated
				October 2009, located at the end of this chapter; or
(3) Any other table of select mortality
				factors adopted by the NAIC for the purpose of calculating basic
				reserves.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 9 - VALUATION OF LIFE INSURANCE POLICIES › Section 16-171-905 - Calculation of minimum valuation standard for policies, other than universal life policies, with guaranteed nonlevel gross premiums or guaranteed nonlevel benefits

Current through June, 2024
(a) Basic reserves
				shall be calculated as the greater of the segmented reserves and the unitary
				reserves. Both the segmented reserves and the unitary reserves for any policy
				shall use the same valuation mortality table and selection factors. At the
				option of the insurer, in calculating segmented reserves and net premiums, the
				following adjustments may be made:
(1) Treat
				the unitary reserve, if greater than zero, applicable at the end of each
				segment as a pure endowment, and subtract the unitary reserve, if greater than
				zero, applicable at the beginning of each segment from the present value of
				guaranteed life insurance and endowment benefits for each segment; or
(2) Treat the guaranteed cash surrender
				value, if greater than zero, applicable at the end of each segment as a pure
				endowment, and subtract the guaranteed cash surrender value, if greater than
				zero, applicable at the beginning of each segment from the present value of
				guaranteed life insurance and endowment benefits for each segment.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 171 - MISCELLANEOUS INSURANCE RULES › Subchapter 9 - VALUATION OF LIFE INSURANCE POLICIES › Section 16-171-906 - Calculation of minimum valuation standard for flexible premium and fixed premium universal life insurance policies that contain provisions resulting in the ability of a policy owner to keep a policy in force over a secondary guarantee period

Current through June, 2024
(a) General.
(1) Policies with a secondary guarantee
				include:
(A) A policy with a guarantee that
				the policy will remain in force at the original schedule of benefits, subject
				only to the payment of specified premiums;
(B) A policy in which the minimum premium at
				any duration is less than the corresponding one-year valuation premium,
				calculated using the maximum valuation interest rate and the 1980 CSO valuation
				tables, with or without ten-year select mortality factors, or any other table
				adopted; or
(C) A policy with any
				combination of subparagraphs (A) and (B).
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 175 - INSURANCE REGULATION FUND ASSESSMENTS › Section 16-175-1 - Definitions

Current through June, 2024
As used in this chapter:
"Administrative costs" means all costs incident to the
				management, supervision, or conduct of the insurance division and supporting
				offices and divisions, including, but not limited to, programs of the insurance
				division, professional, technical, and personnel costs and other costs incurred
				to implement and carry out the purposes of title 24. Administrative costs shall
				consist of line of insurance costs and other insurance division costs.
"Commissioner" means the insurance commissioner of this
				State.
"Line of insurance costs" means those administrative costs
				that can be directly attributable to a line or type of insurance as determined
				by the commissioner.
"Market share" means the percentage of a line or type of
				insurance that is controlled by an insurer or entity regulated under title 24,
				as determined by the commissioner.
"Other insurance division costs" means those administrative
				costs that are not directly attributable to a line or type of insurance as
				determined by the commissioner.
"Title 24" means title 24 of the Hawaii Revised Statutes
				("HRS").
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 175 - INSURANCE REGULATION FUND ASSESSMENTS › Section 16-175-3 - Assessment criteria

Current through June, 2024
(a) An insurer or
			 entity regulated under title 24 and subject to the provisions of section
			 431:2-215,
			 HRS, shall pay an assessment as determined by the commissioner. The assessment
			 shall be based upon criteria consisting of an insurer's or entity's market
			 share percentage of the line of insurance costs and a pro rata share of the
			 other insurance division costs.
(b)
			 An insurer's or entity's share of line of insurance costs shall be determined
			 by that insurer's or entity's market share percentage in each line or type of
			 insurance in the State.
(1) The insurer's or
			 entity's written premium in each line or type of insurance in the State shall
			 be used to determine the insurer's or entity's market share
			 percentage.
(2) Written premium
			 data shall be obtained from the insurer's or entity's filed annual statement
			 for the most recent completed calendar year.
(3) If an insurer's or entity's annual
			 statement of written premium of a line is negative, that insurer or entity is
			 considered to have zero premium for the purpose of determining its market
			 share.
(4) If the commissioner
			 suspends an insurer's or entity's assessment pursuant to section
			 431:2-215(e),
			 the remaining insurers or entities in that line or type of insurance will be
			 assessed for that suspended assessment according to their respective market
			 share percentages.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 178 - ADMINISTRATIVE SPECIAL MORTGAGE RECORDING FEE GUIDELINES › Section 16-178-1 - Introduction

Current through June, 2024
Chapter
				431P, Hawaii Revised Statutes,
				established the hurricane reserve trust fund, which is funded, in part, by a
				special mortgage recording fee. This chapter establishes guidelines for the
				special mortgage recording fee.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 178 - ADMINISTRATIVE SPECIAL MORTGAGE RECORDING FEE GUIDELINES › Section 16-178-2 - Definitions

Current through June, 2024
As used in this chapter, unless the context otherwise
				requires:
"Additional charge mortgage" means a mortgage which increases
				the principal amount of the secured debt owed to the mortgagee that holds an
				existing mortgage on the property described in that mortgage and which is
				recorded in the bureau of conveyances of the State or filed with the assistant
				registrar of the land court of the State.
"Additional security mortgage" means a mortgage of additional
				property to secure an existing debt which is recorded in the bureau of
				conveyances of the State or filed with the assistant registrar of the land
				court of the State.
"Debt" means the stated principal amount of the obligation
				secured by the mortgage.
"HHRF" means the Hawaii hurricane relief fund.
"Mortgage" means every transfer of an interest in real
				property, except fixtures, made as security for the performance of another act
				or subject to defeasance upon the payment of an obligation, whether the
				transfer is made in trust or otherwise.
"SMRF" means a special mortgage recording fee imposed on each
				mortgage and each amendment to a mortgage which increases the principal amount
				of the secured debt which is recorded in the bureau of conveyances of the State
				or filed with the assistant registrar of the land court of the State.
"SMRF transmittal form" means a document, in the form
				available from the bureau of conveyances, showing the calculation of the SMRF,
				which shall accompany each mortgage or amendment to a mortgage to be recorded
				and the payment of the SMRF.