Bill > SB2777

This bill requires property insurance companies authorized to do business in Hawaii to provide specific information about their claims payments from the previous year when offering to sell or renew a policy for real property, including the number of claims opened, closed with payment, closed without payment, and remaining open, with this information needing to be presented clearly and understandably. The bill, which aims to help consumers make informed decisions amidst rising insurance costs due to factors like climate change, also establishes penalties for non-compliance, including fines of up to $1,000 per violation, and makes insurers responsible for any legal fees and costs incurred by the state to enforce these new disclosure requirements, with the changes set to take effect on July 1, 2050.

Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2777&year=2026