SB 434 Hawaii Senate · 2023 Regular Session

RELATING TO INSURANCE.

Summary

Requires sponsored captive insurance companies to maintain separate protected cells for separate participant contracts. Authorizes captive insurance companies to apply for an exemption from examination from the insurance commissioner; provided that certain conditions are met. Requires protected cells established by sponsored captive insurance companies to be approved by the insurance commissioner. Authorizes sponsored captive insurance companies to establish and maintain protected cells to insure risks of parties unaffiliated with a participant under certain circumstances. Requires a participant, through a sponsored captive insurance company, to insure only risks approved by the insurance commissioner. Effective 7/1/2050. (HD1)

Bill status passed 4 of 5 stages cleared

Introduction

Jan 2023

Committee Review

Mar 2023

Senate Passage

Mar 2023

House Passage

Mar 2023

Governor

Introduced Jan 20, 2023 Last action Mar 29, 2023

Floor votes · Senate Mar 7, 2023 · House Mar 21, 2023

How they voted

24–0

Passed · 1 other

Total votes 25

Mar 7, 2023

D Democratic23

22 Yea 1

95% Yea

R Republican2

2 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 21, 2023

Committee

Reported from CPC (Stand. Com. Rep. No. 1378) as amended in HD 1, recommending passage on Second Reading and referral to FIN.

lower

Mar 21, 2023

House · Passed

House Vote: pass (50-0-1)

house

Mar 16, 2023

Lower · Passed

The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 11 Ayes: Representative(s) Nakashima, Sayama, Amato, Belatti, Hashem, Hussey-Burdick, Gates, Lowen, Onishi, Tam, Pierick; Ayes with reservations: none; Noes: none; and Excused: none.

lower

Mar 9, 2023

Committee

Referred to CPC, FIN, referral sheet 17

lower

Mar 7, 2023

Introduced

Received from Senate (Sen. Com. No. 168) in amended form (SD 1).

lower

Mar 7, 2023

Upper · Passed

Passed Third Reading, as amended (SD 1). Ayes, 24; Aye(s) with reservations: Senator(s) Fevella. Noes, 0 (none). Excused, 1 (Senator(s) Fukunaga). Transmitted to House.

upper

Feb 23, 2023

Upper · Passed

The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 4 Aye(s): Senator(s) Keohokalole, Fukunaga, McKelvey, Richards; Aye(s) with reservations: none ; 1 No(es): Senator(s) Awa; and 0 Excused: none.

upper

Feb 17, 2023

Upper · Passed

The committee(s) on CPN will hold a public decision making on 02-23-23 10:01AM; Conference Room 229 & Videoconference.

upper

Jan 27, 2023

Upper · Passed

The committee(s) on CPN has scheduled a public hearing on 01-31-23 9:05AM; Conference Room 229 & Videoconference.

upper

Jan 25, 2023

Committee

Referred to CPN.