| Measure Title: |
RELATING TO INSURANCE FOR HAWAII CONDOMINIUM PROPERTIES.
|
| Report Title: |
Condominiums; Property Insurance; Insurance Premiums; Discounts; Risk Mitigation Upgrades; Disaster Response Plans; Fire and Life Safety Evaluation
|
| Description: |
Requires property insurers to offer discounts on a condominium association's annual insurance premium if the association adopts specific risk mitigation upgrades or develops comprehensive disaster response plans. Requires property insurers of condominiums to base premium increases on actuarial justifications that reflect actual risk reduction resulting from upgraded fire safety improvements installed in conjunction with a building fire and life safety evaluation. Requires property insurers of condominiums to justify premium increases above 10%. Requires property insurers of condominiums to publicly report premium increases each year.
|
| Companion: |
SB804
|
| Package: |
None
|
| Current Referral: |
CPC, JHA, FIN
|
| Introducer(s): |
ICHIYAMA
|
| Act: |
|
| Sort by Date | Chamber | Status Text |
| 1/21/2025 | H | Referred to CPC, JHA, FIN, referral sheet 2 |
| 1/21/2025 | H | Introduced and Pass First Reading. |
| 1/17/2025 | H | Pending introduction. |
S = Senate |
H = House |
D = Data Systems |
$ = Appropriation measure |
ConAm = Constitutional Amendment
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HB590