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THE SENATE                           S.C.R. NO.            S.D. 1
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                    SENATE  CONCURRENT
                        RESOLUTION

  URGING SUPPORT FOR THE ESTABLISHMENT OF AN INSURANCE INSTITUTE
    AT THE COLLEGE OF BUSINESS ADMINISTRATION OF THE
    UNIVERSITY OF HAWAII. 


 1        WHEREAS, insurance is an important part of our daily
 2   lives, from consumer-oriented coverage such as life, health,
 3   disability, homeowners, motor vehicle, and long-term care
 4   insurance to business-related insurance such as workers'
 5   compensation, liability, property, and employee benefits
 6   insurance; and
 7   
 8        WHEREAS, the emerging Asian and Pacific Rim economies are
 9   anticipated to attract an influx of capital and resources from
10   the United States mainland and abroad, and insurance will be
11   one of the basic means of protecting the capital and resources
12   from the risk of loss due to a variety of unforeseen or remote
13   circumstances; and
14   
15        WHEREAS, Hawaii has evolved to be the premier captive
16   insurance domicile in the Pacific and now competes with other
17   prominent domiciles such as Bermuda, the Cayman Islands, and
18   Barbados in the Caribbean, and Vermont in the United States,
19   and has a uniquely qualified infrastructure comprised of
20   private and public sector resources that are committed to
21   supporting the growth and development of this industry,
22   including the training and development of a labor and capital
23   pool that can be called upon to meet the servicing needs of
24   this growing industry in Hawaii; and 
25   
26        WHEREAS, Hawaii's geographical and geopolitical position
27   and its multilingual and culturally diversified population
28   provide a favorable environment for the development and
29   maintenance of a resource to meet the educational needs of the
30   private and public sectors of these emerging economies; and 
31   
32        WHEREAS, currently there is no centralized resource or
33   facility to coordinate the necessary training and development
34   of this unique labor pool for Hawaii's insurance-related
35   industries; and
36   

 
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                                  S.C.R. NO.            S.D. 1
                                                        
                                                        

 
 1        WHEREAS, Hawaii has a research and education center
 2   devoted to the real estate industry in the Hawaii Real Estate
 3   Research and Education Center, that was created through an
 4   agreement between the College of Business Administration of the
 5   University of Hawaii and the Real Estate Commission, and that
 6   provides educational and training products and research of
 7   interest to the real estate industry and the general public;
 8   and 
 9   
10        WHEREAS, a similar type of institute devoted to insurance
11   could meet the training and development needs of Hawaii's
12   insurance-related industries and serve as a centralized source
13   of information and expertise for other professionals and the
14   community at large; now, therefore,
15   
16        BE IT RESOLVED by the Senate of the Twentieth Legislature
17   of the State of Hawaii, Regular Session of 1999, the House of
18   Representatives concurring, that the University of Hawaii is
19   requested to study the feasibility of establishing an insurance
20   institute at the College of Business Administration of the
21   University of Hawaii; and 
22   
23        BE IT FURTHER RESOLVED that the University of Hawaii is
24   requested to consult with other public and private sector
25   groups involved in the insurance industry in the formulation of
26   the feasibility study; and
27   
28        BE IT FURTHER RESOLVED that the University of Hawaii
29   submit the findings of this feasibility study to the
30   Legislature no later than twenty days prior to the convening of
31   the Regular Session of 2000; and
32   
33        BE IT FURTHER RESOLVED that the University of Hawaii is
34   also urged to seek and pursue federal or other funding for the
35   financing of this institute and other insurance-related
36   training in developing Asian and Pacific countries; and
37   
38        BE IT FURTHER RESOLVED that certified copies of this
39   Concurrent Resolution be transmitted to the President of the
40   University of Hawaii, the Dean of the College of Business
41   Administration at the University of Hawaii, the State Insurance
42   Commissioner, and Hawaii's congressional delegation.