On July 19, 2024, Hawaii made changes to the requirements that were effective on June 21, 2024 for resident and nonresident reinsurance intermediary-manager and third-party administrator licenses.

The Commissioner may require a reinsurance intermediary-manager to provide any report required by the Commissioner.

Before a Third-Party Administrator license is issued, the administrator must file with the Commissioner and maintain a $100,000 surety bond for the first licensing biennial, and at least $300,000 for every subsequent license renewal.

Our compliance experts are constantly searching for and analyzing industry updates. Their findings are then recorded in the Regulatory Updates section of the Compliance Library to explain how the update impacts the insurance industry. If a change impacts an AgentSync product, this will be highlighted to inform you that the product is being updated to ensure you remain in compliance.