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 September 9, 2009, 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 16-169 entitled “Actuarial Opinion and Memorandum.”
The purpose of the proposed amendments to this chapter is to include standards of accountability and reliability in actuarial opinions and memorandum that are incorporated in insurers’ financial reports. The proposed amendments have been revised subsequent to the July 9, 2009 public hearing. The first revision deletes the subchapter pertaining to property and casualty insurers. The second revision states that the commissioner may request a foreign life insurer to provide its regulatory asset adequacy issues summary for examination.
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 September 2, 2009, to the Insurance Division at the address noted below.
A copy of the proposed rules will be mailed to any interested person who requests a copy. Please submit your request to the Insurance Division at the address noted below or contact the Division’s Office Services Branch via telephone at (808) 586-2790.
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 website of the Department of Commerce and Consumer Affairs: http://www.hawaii.gov/dcca/areas/ins/main/har/.
Individuals who require special needs accommodations are invited to call John Wienert at (808) 586-2790 at least four (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.