HRS §431:4-304
Requirements for a mutual casualty insurer to get a license
Read the official text at capitol.hawaii.gov ↗A domestic mutual casualty insurer must meet certain requirements before it can get a certificate of authority. It can either have many applications, premiums, and a large surplus, or just have a larger surplus. This section lists those specific requirements.
businesses
The statute, as written — Mutual casualty insurer
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.
(a) When applying for a certificate of authority a domestic mutual insurer proposing to transact casualty insurance, including vehicle insurance, must: (1) Have applications for the insurance in a reasonable amount from at least two hundred and fifty persons covering not less than five hundred separate risks; and (2) Have collected from each applicant the proper premium for a term of not less than one year at a rate filed with and approved by the commissioner; and (3) Have a surplus over all liabilities, as at completion of issuance of the insurance contracts so applied for, amounting to not less than $1,500,000. (b) In lieu of the applications, premiums, and surplus, it is required to have a surplus amounting to not less than $2,250,000 over all liabilities.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.