Legislation targets coverage gaps and stabilizes escalating insurance premiums
A property insurance bill that reactivates the Hawaii Hurricane Relief Fund (HHRF) and expands the authority of the state’s insurer of last resort has been approved by the Hawaii Legislature and is awaiting the signature of Gov. Josh Green (pictured above).
The governor recently signed a separate law extending notification periods for property insurance cancellations.
Senate Bill 1044 would extend the Hawaii Property Insurance Association’s capacity to write policies for certain properties struggling to secure coverage. Eligibility will be determined by either the association or the insurance commissioner.