Act 032, SB589 SD2 HD2, 5/5/2015Posted on May 6, 2015 in 2015 Acts
Property Insurance; Hawaii Property Insurance Association; Policies; Non-renewal; Lava Zone; State of Emergency; Moratorium.
RELATING TO INSURANCE. Specifies the total percentage of property insurance policies that an insurer may non-renew in a lava zone during a state of emergency due to lava flow in that lava zone, with specific exceptions. Specifies that if residential property insurance is unavailable due to a moratorium on insurance policies in a lava zone during a state of emergency due to lava flow, the Hawaii Property Insurance Association shall remove its moratorium; requires the Hawaii Property Insurance Association to offer new policies and provide a maximum waiting period of six months for the policy coverage to take effect after the moratorium is removed. (SB589 HD2)