An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.
Haw. Rev. Stat. § 431:3D-103
Risk management framework
Known as the Insurance Code
The act spans §§ 431–431 (1,434 sections).
L 2016, c 140, pt of §1
Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.