HAR §16-23-67. General description

(a) The joint underwriting plan is intended to provide motor vehicle insurance and optional additional insurance in a convenient and expeditious manner for those persons, uses, or motor vehicles in certain "high risk" categories with respect to which insurance cannot reasonably be obtained in the market at rates not in excess of joint underwriting plan rates, or persons who otherwise are in good faith entitled to, but unable to obtain, motor vehicle insurance and optional additional insurance through ordinary methods. Insurers will pool their losses and bona fide expenses under joint underwriting plan to prevent the imposition of any inordinate burden on any particular insurer. (b) Another part of the joint underwriting plan consists of the assignment thereto of claims of victims for whom no policy is applicable, such as the §16-23-67 23-30 hit-and-run victim who is not covered by a motor vehicle insurance policy. The losses and expenses under the assigned claims program are pro-rated among and shared by all motor vehicle insurers and self- insurers. [Eff 9/1/80; comp 9/1/82; comp 9/1/85; comp 9/1/88; comp 9/15/89; comp 9/1/90; am and comp 6/1/93; am 1/30/95; am and comp 1/1/98; comp 1/8/99; comp 11/11/12; comp 7/2/22; am and comp 4/17/26] (Auth: HRS §§431:10C-214, 431:10C-406) (Imp: HRS §§431:10C- 401 through 431:10C-412) §16-23-68 Membership in the Joint Underwriting Plan. (a) Each insurer shall be a member of the joint underwriting plan. As a condition of licensure, it shall: (1) Maintain its membership at a minimum fee of $1,000 per year or part thereof; and (2) Accept appointment as a servicing entity if the commissioner finds it necessary in the public interest and that the insurer is capable of performing as a servicing entity. (3) This section shall not apply to those insurers writing motor vehicle insurance exclusively under section 431:10C-106, HRS. (b) The commissioner shall notify the insurer of its membership in the joint underwriting plan at least thirty days before the extension date of the insurer's membership. If the fee is not paid on or before the extension date, the fee shall be increased by a penalty in the amount of fifty per cent of the fee. If the fee and the penalty are not paid within thirty days after the extension date, the commissioner may revoke the insurer's certificate of authority and reissue the certificate of authority when the penalty and the fee have been paid. [Eff 9/1/80; am and comp 9/1/82; am and comp 9/1/85; am 9/1/87; am and comp 9/1/88; comp 9/15/89; am and comp 9/1/90; am and comp 6/1/93; am and comp 1/1/98; comp 1/8/99; comp 11/11/12; am and comp 7/2/22; am and comp 4/17/26] §16-23-71 23-31 (Auth: HRS §§431:10C-214, 431:10C-406) (Imp: HRS §§431:10C-401 through 431:10C-404)