The Insurance Division of the Hawaii Department of Commerce and Consumer Affairs oversees the insurance industry as it relates to the state of Hawaii. It regulates all of the insurance companies and agents that do business within the state. It is comprised of seven separate branches: The Financial Surveillance and Examination Branch, the Compliance and Enforcement Branch, the Licensing Branch, the Rate and Policy Analysis Branch, the Captive Insurance Branch, the Insurance Fraud Investigation Branch and the Health Insurance Branch.
Hawaii Insurance Commissioner
On December 14, 2010, Hawaii Governor Neil Abercrombie appointed Gordon Ito Insurance Commissioner for the Insurance Division. Commissioner Ito is responsible for the oversight of the nearly 1,000 insurance companies and 40,000 insurance agents that sell policies to consumers in the state of Hawaii. Prior to this appointment, Commissioner Ito served as Deputy Insurance Commissioner. He also worked as a supervising staff attorney. Commissioner Ito holds an undergraduate degree in Business Administration from the University of Hawaii and a J.D. from the William S. Richardson School of Law.
Hawaii Annuity Resources
The Insurance Division of the Hawaii Department of Commerce and Consumer Affairs has several annuity resources on its website at http://hawaii.gov/dcca/search?SearchableText=annuities. Of particular interest are articles pertaining to annuities and seniors. The site also contains information about variable annuities. Annuity investors may also want to review the information prepared by the Financial Surveillance and Examination Branch, as this is the group responsible for making sure that insurance companies doing business in Hawaii are adequately capitalized. The Insurance Division is located in the King Kalakaua Building at 335 Merchant St., Rm 213, Honolulu, HI 96813. It can be reached by phone at (808) 586-2790.
|State Commissioner:||Gordon Ito|
|Insurance Hotline:||(808) 586-2790|
|Annuity Guarantee Limit:||$100,000|
|Links:||Annuities for Seniors|