Hawaii: Legislative Session Ends With New Administrative Costs for Insurers Becoming Law
Hawaii’s 2010 Legislature adjourned for the year April 29 with some good news and some bad news for insurers. The good news was that the Insurance Premium Tax Rate Increase bill, which NAMIC actively opposed, never came out of the Senate and is dead for the year. The bill, as originally, drafted would have temporarily effectuated a 25 percent premium tax rate increase from 4.265 percent to 5.331 percent for property/casualty insurers.
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