HawaiiRELATING TO INSURANCE FOR HAWAII CONDOMINIUM PROPERTIES.
What it does
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%.
More detail
Requires property insurers of condominiums to publicly report premium increases each year.
Where do you stand?
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jan 21Introduced and Pass First Reading.Latest
- Jan 21Referred to CPC, JHA, FIN, referral sheet 2Minor
- Jan 17Pending introduction.Introduced