STAND. COM. REP. NO. 2088-26

Honolulu, Hawaii

, 2026

RE: S.B. No. 2961

S.D. 1

H.D. 1

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Madame:

Your Committee on Finance, to which was referred S.B. No. 2961, S.D. 1, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO INSURANCE,"

begs leave to report as follows:

The purpose of this measure is to require insurers issuing or renewing homeowners insurance policies, for an insured who sustains a total loss from a peril for which a state of emergency was declared, to:

(1) Allow the insured to apply additional living expenses benefits toward the lease of a housing unit to serve as the insured's temporary primary residence;

(2) Pay an advance of at least four months of additional living expenses benefits upon the insured's request;

(3) Provide additional living expenses benefits for a minimum of twenty-four months, subject to policy limits; and

(4) Provide for extensions of additional living expenses benefits under certain conditions.

Your Committee received testimony in support of this measure from the Department of Commerce and Consumer Affairs and Aloha Independent Living Hawaii.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2961, S.D. 1, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

CHRIS TODD, Chair