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Hawaii Captive Law

Summary of Hawaii Captive Law (Provided by the State of Hawaii and updated as of 6.30.12)

Guide to Article 19

For the full wording of our captive law, start here.

Below we provide a summary of each section to assist with navigation of the site.

§431:19-101 Definitions

§431:19-101.2 Confidential treatment
§431:19-101.3 Classes of captive insurance
§431:19-101.4 Service providers
§431:19-101.5 Captive insurance administrator
§431:19-101.6 Salary
§431:19-101.7 General powers and duties
§431:19-101.8 Captive insurance administrative fund

§431:19-102 Licensing; authority

§431:19-102.2 Personal lines insurance
§431:19-102.3 Redomestication; approval as a domestic captive insurer
§431:19-102.4 Redomestication; conversion to foreign insurer

§431:19-103 Names of companies

§431:19-104 Minimum capital; letter of credit, security

§431:19-105 Minimum surplus; letter of credit, security

§431:19-106 Formation of captive insurance companies in this State

§431:19-106.3 Leased capital facilities
§431:19-106.5 Conversion or merger of captive insurers

§431:19-107 Financial statements and other reports

§431:19-108 Examinations and investigations

§431:19-109 Grounds and procedures for suspension and revocation of license

§431:19-110 Legal investments

§431:19-111 Reinsurance

§431:19-111.5 Class 5 companies

§431:19-112 Rating organizations; memberships

§431:19-113 Exemption from compulsory associations

§431:19-114 Rules

§431:19-115 Laws applicable

§431:19-115.5 Applicability of other laws to captive insurance companies writing motor vehicle insurance policies in this State
§431:19-115.6 Applicability of other laws to captive insurance companies writing credit life or other credit disability insurance policies

§431:19-116 Taxation

Captives in Hawaii are also regulated by the Hawaii Administrative Rules, and full details of these can be found at http://www.hawaii.gov/dcca/areas/ins/main/har/har_17-c.pdf

Each year we review our laws and, if considered appropriate, petition the legislature to make amendments that assist the growth of our captive industry. For details of progress of such amendments, start here.