HRS §431:14-101
Purpose of insurance rate regulation
Read the official text at capitol.hawaii.gov ↗This law says insurance rates must be fair—not too high, too low, or unfairly different for similar people. It allows insurers to work together on rates, but only to keep rates fair, not to stop healthy competition. The law should be read broadly to achieve these goals.
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The statute, as written — Purpose
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
The purpose of this article is to promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate, or unfairly discriminatory, and to authorize and regulate cooperative action among insurers in ratemaking and ratemaking related activities and in other matters within the scope of this article. Nothing in this part is intended to: (1) Prohibit or discourage reasonable competition; or (2) Prohibit or encourage except to the extent necessary to accomplish the aforementioned purposes, uniformity in insurance rates, rating systems, rating plans, or practices. This article shall be liberally interpreted to carry into effect the provisions of this section.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.