HRS §431:3D-104
Insurance companies must regularly check their own financial health
Insurance companies must regularly review their own financial risks and ability to pay claims, using a process similar to a national guide. They must do this at least once a year, and also whenever their risk situation changes significantly.
The statute, as written — Own risk and solvency assessment requirement
Subject to section 431:3D-106, an insurer or the insurance group of which the insurer is a member shall regularly conduct an own risk and solvency assessment consistent with a process comparable to the Own Risk and Solvency Assessment Guidance Manual. The own risk and solvency assessment shall be conducted no less than annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.
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