Bill > SB802

This bill introduces comprehensive reforms to property insurance regulations in Hawaii, requiring insurers to provide more transparent and detailed notifications to policyholders about premium changes, policy cancellations, and renewals. Specifically, insurers must now send written notices at least several calendar days before renewing a policy if premiums will increase by 10% or more, with these notices including detailed explanations of the increase across five key categories: specific risk factors, claims history, market conditions, policy term changes, and a breakdown of premium calculation. The bill also mandates that insurers file annual rate schedules and underwriting criteria with the Insurance Commissioner, who will conduct periodic rate reviews to prevent price-gouging and unfair practices. Additionally, the bill establishes a new Public Reporting and Dispute Resolution Program that provides consumers with a hotline and online system to file complaints, with an formal appeals process that requires the Commissioner to investigate and potentially require adjustments if premium increases are deemed unjustified. Insurers are further required to offer premium discounts or credits to policyholders who implement disaster risk mitigation measures like wind-resistant roofing or fire suppression systems. The bill is set to take effect on July 1, 2050, and aims to increase insurance transparency and consumer protection.

Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=802&year=2026