HRS §431:12-110
Premium rates for mass merchandising insurance
This section says insurance sold through mass merchandising must follow the rate rules for motor vehicle and property/casualty insurance. Rates can't be too high, too low, or unfairly discriminatory. Different rates are okay if they accurately reflect differences in costs or risks, and broad averaging is allowed.
everyone
The statute, as written — Premium rates
Premium rates for insurance sold on a mass merchandising basis shall comply with the standards in article 10C for motor vehicle insurance and in article 14 for property and casualty insurance including the standards that rates not be excessive, inadequate or unfairly discriminatory. Rates shall not be deemed to be unfairly discriminatory because different premiums result for policyholders with like loss exposure but different expense factors, or like expense factors but different loss exposures, so long as the rates reflect the differences with reasonable accuracy. Rates shall not be deemed to be unfairly discriminatory if they are averaged broadly among persons insured under a mass merchandising plan.
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