HRS §431:4-305
Requirements for a mutual vehicle insurer to get a license
Read the official text at capitol.hawaii.gov ↗This section says what a domestic mutual vehicle insurer must do to get a certificate of authority. It must have enough applications, collect premiums, and have a certain surplus. Alternatively, it can meet a higher surplus requirement instead.
businesses
The statute, as written — Mutual vehicle 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 formed to transact vehicle insurance must: (1) Have applications from at least two hundred persons for insurance covering at least five hundred separate vehicles, for a maximum of retained liability not in excess of $50,000 for any one accident or other liability; and (2) Have collected from each applicant the proper premium for insurance for one year according to its schedule of premium rates 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 $1,000,000. (b) In lieu of the applications, premiums, and surplus, it is required to have a surplus amounting to not less than $1,500,000 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.