Act 070, signed in to law by the governor on June 7, 2019, requires insurers to register any trade name with the Business Registration Division (BREG), Department of Commerce and Consumer Affairs (DCCA), prior to the use or change of a trade name to sell, solicit, or negotiate insurance in Hawaii. Upon registration of the trade name with BREG, the licensee may apply with the Insurance Division’s Licensing Branch to add or remove a trade name on an active insurance license by using the preapproved form (Form NTA), available on the BREG Division’s website. Act 070 takes effect on October 2, 2019.
Any existing licensees using unregistered trade names need to register their trade name with BREG. The Insurance Division does not monitor whether a trade name is currently registered, so it is the responsibility of the licensee to take appropriate action. If the application for use or change of a tradename is substantially identical to a legal name or trade name of a revoked license, the insurance commissioner will deny the use of the trade name on the insurance license.