Haw. Code R. § 16-6-15 - Responsibility of insurer to review each lender's account
(a) Each insurer transacting credit insurance
in this State shall be responsible to make a reasonable review of each
creditor's procedures, at least annually, with respect to its credit insurance
business with such creditor to assure compliance with the laws of this State
and shall be prepared to exhibit the results of such review upon request of the
insurance commissioner.
(b) The
review required in subsection (a) shall include but shall not be limited to:
(1) A determination that the proper rates are
being charged by the creditor;
(2)
A determination that the proper refunds are being made;
(3) A determination that all claims are being
filed and properly handled;
(4) A
determination that amounts of insurance payable on death in excess of the
amounts necessary to discharge the indebtedness are properly refunded;
and
(5) A determination that the
creditor is promptly and fairly processing complaints concerning its credit
insurance operations and is maintaining proper procedures for and records of
the complaints processed.
Notes
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