HRS §431:3D-103
Insurance companies must have a risk management plan
Read the official text at capitol.hawaii.gov ↗An insurance company must keep a system to find, check, watch, handle, and report its big risks. If the company belongs to a group, the group's system can count for the company if it covers the company's operations.
The statute, as written — Risk management framework
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.
An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.