(a) Any surplus lines broker who in this State represents or aids an unauthorized insurer in violation of this article may be fined not more than $1,000.

Terms Used In Hawaii Revised Statutes 431:8-320

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • License: means a document issued by the commissioner authorizing a person to act as a surplus lines broker as specified in the document. See Hawaii Revised Statutes 431:8-102
  • Surplus lines broker: means any person licensed under section 431:8-310 to place insurance on risks resident, located, or to be performed in this State with unauthorized insurers. See Hawaii Revised Statutes 431:8-102
  • 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
(b) In addition to any other penalty provided for in this part or otherwise provided by law, including any suspension, revocation or refusal to renew a license, any person, firm, association or corporation violating any provisions of this article shall be liable to a penalty not exceeding $1,000 for the first offense, and not exceeding $2,000 for each succeeding offense.
(c) The above penalties are not exclusive remedies, penalties may also be assessed under article 13.

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