HRS §431:19-201
Why this law exists for special insurance companies
This part of the law creates special insurance companies that exist only to turn insurance risks into investments, helping them raise money from new sources. The goal is to make this process easier and more efficient, and to help the state's economy grow.
businessesfinancial institutions
The statute, as written — Purpose
This part provides for the creation of special purpose financial captive insurance companies for the exclusive purpose of facilitating the securitization of one or more risks as a means of accessing alternative sources of capital and achieving the benefits of securitization. This part intends to allow the organizers of special purpose financial captive insurance companies to achieve greater efficiencies in structuring and executing insurance securitization, to diversify and broaden access to sources of capital, to facilitate access to insurance securitization and capital markets financing technology, and to further the economic development opportunities of the State.
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