Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 18 - HAWAII LIFE AND DISABILITY INSURANCE GUARANTY ASSOCIATION SUMMARY DOCUMENT, DISCLAIMER AND WRITTEN NOTICE
Section 16-18-2 - Summary document

Universal Citation: HI Admin Rules 16-18-2

Current through November, 2023

(a) The Hawaii Life and Disability Insurance Guaranty Association (Guaranty Association) shall submit the summary document to the commissioner for approval before the document may be delivered to policyholders. Upon receiving approval from the commissioner, the Guaranty Association shall notify all its members of the contents of the approved summary document.

(b) Insurance companies may print the summary document on their own letterhead in substantially the same form as that approved by the commissioner in Exhibit A, dated September 1991, located at the end of this chapter and made a part of this section. The wording of the summary document shall be identical to that approved by the commissioner.

(c) The insurance company or insurance agent shall deliver the summary document to the policyholder or certificate holder at the time of delivery of the insurance policy unless section 431:16-203(b)(2)(A) applies. The summary document shall be a separate document from the policy and shall not be attached to nor made part of the policy.

(d) Revisions to the summary document shall be approved by the commissioner prior to use.

[Eff 3/12/92] (Auth: HRS § 431:2-201) (Imp: HRS § 431:16-218)

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