HRS §431:16-102
Why this insurance protection law exists
This law sets up a way to pay certain insurance claims quickly when an insurance company goes broke. It helps policyholders and people who file claims avoid big money losses. The goal is to reduce delays in getting paid.
The statute, as written — Purpose
The purpose of this part is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and, to the extent provided in this part, to minimize financial loss to claimants or policyholders because of the insolvency of an insurer.
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