Subject to section 431:3D-106, an insurer or the insurance group of which the insurer is a member shall regularly conduct an own risk and solvency assessment consistent with a process comparable to the Own Risk and Solvency Assessment Guidance Manual. The own risk and solvency assessment shall be conducted no less than annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.
Haw. Rev. Stat. § 431:3D-104
Own risk and solvency assessment requirement
Known as the Insurance Code
The act spans §§ 431:10-101 to 431:9N-104 (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.