Haw. Code R. § 16-18-2 - Summary document
(a) The Hawaii Life
and Disability Insurance Guaranty Association (Guaranty Association) shall
submit the summary document to the commissioner for approval before the
document may be delivered to policyholders. Upon receiving approval from the
commissioner, the Guaranty Association shall notify all its members of the
contents of the approved summary document.
(b) Insurance companies may print the summary
document on their own letterhead in substantially the same form as that
approved by the commissioner in Exhibit A, dated September 1991, located at the
end of this chapter and made a part of this section. The wording of the summary
document shall be identical to that approved by the commissioner.
(c) The insurance company or insurance agent
shall deliver the summary document to the policyholder or certificate holder at
the time of delivery of the insurance policy unless section
431:16-203(b)(2)(A)
applies. The summary document shall be a separate document from the policy and
shall not be attached to nor made part of the policy.
(d) Revisions to the summary document shall
be approved by the commissioner prior to use.
Notes
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