HRS §431:14-112
Rules for insurance groups that share risks
This section says that groups of insurance companies that work together to share risks must follow certain insurance rules. If the insurance commissioner finds their actions unfair or against the rules after a hearing, the commissioner can order them to stop.
The statute, as written — Joint underwriting or joint reinsurance
(a) Every group, association, or other organization of insurers which engages in joint underwriting or joint reinsurance, shall be subject to regulation as provided below, subject: (1) With respect to joint underwriting, to all other provisions of this article, and (2) With respect to joint reinsurance, to section 431:14-113, section 431:14-117 and section 431:14-118. (b) If, after a hearing, the commissioner finds that any activity or practice of any such group, association or other organization is unfair or unreasonable or otherwise inconsistent with this article, the commissioner may issue a written order specifying in what respects the activity or practice is unfair or unreasonable or otherwise inconsistent with this article, and requiring the discontinuance of such activity or practice.
Sections this one refers to
§431:14-113 Insurance rating organization examinations and reports
§431:14-117 Fines and license suspension for insurance rating violations
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