What counts as insurance

(a) Insurance is a contract whereby one undertakes to indemnify another or pay a specified amount upon determinable contingencies. (b) The following contracts are not considered to be insurance for the purposes of this code: (1) A bond with respect to which no premium is charged or paid; (2) A bond or contract or undertaking in the performance of which the surety has an interest other than that of surety; (3) A plan or agreement between an employer and any employee or the employee's representative, individually or collectively, by the terms of which the employer or the parties to the plan or agreement agree to contribute to the cost of nonoccupational disability benefits, medical attention, treatment or hospitalization for the employee or members of the employee's family unless such plan is underwritten by an insurer as defined in this article; (4) A legal service plan as defined in chapter 488 other than plans in which either the person or entity offering the plan or the person administering the plan is otherwise subject to this code; (5) Any unincorporated interindemnity or reciprocal or interinsurance contract, which qualifies under chapter 435E between members of a cooperative corporation, whose members consist only of physicians and surgeons licensed in Hawaii, which contracts indemnify solely in respect to medical malpractice claims against such members, and which do not collect in advance of loss any moneys other than contributions by each member to a collective reserve trust fund or for necessary expenses of administration.