Bill > HB21

This bill modifies the Hawaii Property Insurance Association's (HPIA) responsibilities by expanding its coverage to include commercial properties under specific conditions. The bill requires the HPIA to provide insurance coverage for commercial properties that have been denied coverage by at least two private insurers, effectively creating a safety net for commercial property owners who cannot obtain insurance through traditional market channels. The legislation amends the existing law to explicitly include commercial property in the association's plan of operation and removes previous language that limited commercial risk coverage. The bill also preserves the association's existing powers, such as the ability to add insurance coverages with commissioner approval, employ necessary staff, contract with member insurers, and assess member insurers to cover extraordinary losses. The key change is the explicit inclusion of commercial properties in the HPIA's mandate, providing a last-resort insurance option for commercial property owners who have been unable to secure coverage through private insurers. The act will take effect upon its approval by the relevant authorities.

Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=21&year=2026