State of Hawaii Looses to Providers
Insurance providers in the state of Hawaii have lost a case where they were complained to have asked for excessive taxes form the insurance industry. The money the state gathered form the said taxes were supposed to be brought into the State’s compliance resolution fund but was instead diverted to a general fund much to the dismay of the providers. The move of the state resulted in 2,000 lawsuits from the insurance association when they were asked to pay for 2 million dollars for the said regulation fund. The state has appealed the decision and is awaiting another round of hearing for they say there have absolutely been wrong judgments in their case.