NOTICE OF PUBLIC HEARING
Pursuant to Hawaii Revised Statutes (“HRS”) section 431:2-201 and chapter 91, notice is hereby given that the Insurance Division (“Division”) will hold a public hearing on Thursday, July 21, 2016, at 10:00 a.m., in the Queen Kapiolani Conference Room, 2nd Floor, King Kalakaua Building, Department of Commerce and Consumer Affairs, 335 Merchant Street, Honolulu, Hawaii, to hear all persons interested in the proposed amendments and compilation of Hawaii Administrative Rules (“HAR”) chapter 16-14 entitled “Insurance Holding Company System” and chapter 16-168 entitled “Credit for Reinsurance.”
The purpose of the proposed amendments to chapter 16-14 is to conform our rules to the requirements of the National Association of Insurance Commissioner (“NAIC”) in order to adhere to standards required for maintaining our accreditation status with that organization. The purpose of the proposed amendments to chapter 16-168 is to conform the rules to existing statutes, provide clarity of regulatory requirements, remove conflicting rules, provide templates of forms for required credit for reinsurance filings, and adhere to standards required for maintaining our accreditation status with the NAIC.
All interested persons shall be afforded the opportunity to submit data, views, or arguments, orally or in writing, to the Insurance Division at the time of hearing. All written and oral submissions regarding the proposed rules shall be fully considered. All persons wishing to submit written testimony are requested to submit 2 copies of their written testimony by Friday, July 15, 2016, to the Insurance Division at the address noted below.
A copy of the proposed rules may be obtained at no charge before the date of the hearing between 7:45 a.m. and 4:30 p.m., Monday through Friday, excluding holidays, at the following address: Department of Commerce and Consumer Affairs, Insurance Division, 335 Merchant Street, Room 213, Honolulu, Hawaii 96813.
Further, the proposed rules may be reviewed in person free of charge at the Insurance Division at the address and hours of operation noted above. In addition, the full text of the proposed rules is available for review and can be downloaded free of charge from the following websites:
The Office of the Lieutenant Governor:
The Department of Commerce and Consumer Affairs:
Individuals who require special needs accommodations are invited to call Paul Yuen at (808) 586-2790 at least 4 working days prior to the hearing. The Insurance Division intends to make its decision on the proposed rules at the time of the hearing. However, in the event the Insurance Division decides to take the decision on the proposed rules under advisement, it will announce the date when it intends to make its decision.
GORDON I. ITO
State of Hawaii