Hawaii Revised Statutes 431:8-204 – Liability of person assisting unauthorized insurer
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Terms Used In Hawaii Revised Statutes 431:8-204
- Contract: A legal written agreement that becomes binding when signed.
- Unauthorized insurer: means an insurer not holding a valid certificate of authority to transact an insurance business in the state in which the subject resident is located or in which the insurance contract will be performed. See Hawaii Revised Statutes 431:8-102
In the event of failure of any such unauthorized insurer to pay any claim or loss within the provisions of such insurance contract, any person who assisted or in any manner aided directly or indirectly in the procurement of such insurance contract and who knew or should have known the transaction was illegal shall be liable to the insured for the full amount of the claim or loss in the manner provided by the provisions of the insurance contract.