The Hawaii Insurance Department has proposed two amendments to its Disclosure of Material Transactions regulation in chapter 16-170, Hawaii Administrative Rules. The amendments include a definition of “material transaction” as used in chapter 16-170 and requiring material new ceded reinsurance agreements affecting in force life insurance business as specified in section 16-170-3 to be subject to the reporting requirements of section 16-170-1.
This post written by Dan Crisp.