STAND. COM. REP. NO. 2226

Honolulu, Hawaii

, 2023

RE: S.C.R. No. 48

S.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Consumer Protection & Commerce, to which was referred S.C.R. No. 48, S.D. 1, entitled:

"SENATE CONCURRENT RESOLUTION REQUESTING THAT THE DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS COMPILE PERTINENT DATA TO DETERMINE THE APPROPRIATE SCOPE OF A STUDY ANALYZING WHETHER IMPLEMENTATION IN THIS STATE OF LAWS SIMILAR TO CAPTIVE INSURANCE LAWS OF MASSACHUSETTS WOULD ADDRESS THIS STATE'S RESIDENTIAL CONDOMINIUM PROPERTY INSURANCE NEEDS,"

begs leave to report as follows:

The purpose of this measure is to request that the Department of Commerce and Consumer Affairs compile pertinent data to determine the appropriate scope of a study analyzing whether implementation in this state of laws similar to captive insurance laws of Massachusetts would address this state's residential condominium property insurance needs.

The Department of Commerce and Consumer Affairs, and 4 individuals testified in support. 3 individuals offered comments.

As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee concurs with the intent and purpose of S.C.R. No. 48, S.D. 1, and recommends its adoption.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

____________________________

MARK M. NAKASHIMA, Chair