HAR §16-18-2. Summary document

(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. 18-1 (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) 16-18-3 Disclaimer. (a) The contents of the disclaimer described in section 431:16-218(c) shall read as follows: "The Hawaii Life and Disability Insurance Guaranty Association may not provide coverage for this policy. If coverage is provided, it may be subject to substantial limitations or exclusions, and require continued residency in Hawaii. You should not rely on coverage by the Hawaii Life and Disability Insurance Guaranty Association in selecting an insurance company or in selecting an insurance policy. Coverage is NOT provided for your policy or any portion of it that is not guaranteed by the insurer or for which you have assumed the risk, such as a variable contract sold by prospectus. Insurance companies and their agents are required by law to give or send you this notice. However, insurance companies and their agents are prohibited by law from using the existence of the Hawaii Life and Disability Insurance Guaranty Association to induce you to purchase any kind of insurance policy. The Hawaii Life and Disability Insurance Guaranty Association P.O. Box 4068 Honolulu, Hawaii 96812 Department of Commerce and Consumer Affairs Insurance Division P. O. Box 3614 Honolulu, Hawaii 96811" (b) This disclaimer shall be stamped or written conspicuously upon the first page of the summary document described in section 431:16-218. The wording of the disclaimer shall be identical to that prescribed by the commissioner in Exhibit A, dated September 1991, located at the end of this chapter and made a part of this section. (c) The disclaimer may include the name and address of the insurance company issuing the policy and the name and address of the insurance agent who procured the policy. [Eff 3/12/92] (Auth: HRS §431:2-201) (Imp: HRS §431:16-218) 18-2