HAR §16-175-3. Assessment criteria

(a) An insurer or entity regulated under title 24 and subject to the provisions of section 431:2-215, HRS, shall pay an assessment as determined by the commissioner. The assessment shall be based upon criteria consisting of an insurer's or entity's market share percentage of the line of insurance costs and a pro rata share of the other insurance division costs. (b) An insurer's or entity's share of line of insurance costs shall be determined by that insurer's or entity's market share percentage in each line or type of insurance in the State. (1) The insurer's or entity's written premium in each line or type of insurance in the State shall be used to determine the insurer's or entity's market share percentage. (2) Written premium data shall be obtained from the insurer's or entity's filed annual statement for the most recent completed calendar year. (3) If an insurer's or entity's annual statement of written premium of a line is negative, that insurer or entity is considered to have zero premium for the purpose of determining its market share. (4) If the commissioner suspends an insurer's or entity's assessment pursuant to section 431:2-215(e), the remaining insurers or entities in that line or type of insurance will be assessed for that suspended assessment according to their respective market share percentages. (c) Each insurer or entity shall be assessed an equal share of the other insurance division costs, which costs shall be charged on a pro rata basis and shall not be based on market share percentage. [Eff 2/16/02] (Auth: HRS §431:2-201) (Imp: HRS §431:2-215) 175-3 Chapter 16-175, Hawaii Administrative Rules, on the Summary page dated January 16, 2002, was adopted on January 16, 2002, following a public hearing held on the same date, after public notices were given in The Honolulu Advertiser on December 5, 2001, and the Hawaii State and County Public Notices for the City and County of Honolulu, County of Kauai, County of Maui, and the County of Hawaii on December 3, 2001. These rules shall take effect ten days after filing with the Office of the Lieutenant Governor. /s/ Wayne C. Metcalf, III WAYNE C. METCALF, III Insurance Commissioner APPROVED AS TO FORM: Date: 1/31/02 /s/ James F. Nagle Deputy Attorney General APPROVED: Date: 1/31/02 /s/ Kathryn S. Matayoshi KATHRYN S. MATAYOSHI, Director Commerce and Consumer Affairs APPROVED: Date: 2/05/02 /s/ Benjamin J. Cayetano BENJAMIN J. CAYETANO Governor State of Hawaii February 6, 2002 Filed DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS Adoption of Chapter 16-175 Hawaii Administrative Rules January 16, 2002 SUMMARY Chapter 16-175, Hawaii Administrative Rules, entitled "Insurance Regulation Fund Assessments" is adopted. THIS MATERIAL CAN BE MADE AVAILABLE FOR INDIVIDUALS WITH SPECIAL NEEDS IN BRAILLE, LARGE PRINT OR AUDIO TAPE. PLEASE SUBMIT YOUR REQUEST TO THE INSURANCE DIVISION AT (808) 586-2790. Effective 2/16/02