§431:16-102 - Purpose. - Hawaii Statutes

     §431:16-102  Purpose.  The purpose of this part is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and, to the extent provided in this part, to minimize financial loss to claimants or policyholders because of the insolvency of an insurer. [L 1987, c 347, pt of §2; am L 2000, c 93, §1]

 

Case Notes

 

  Insurer which was never a member of insurance association, was not regulated by the insurance commissioner, nor subject to examination of its financial condition was not an authorized insurer.  70 H. 406, 772 P.2d 1193.