HI HB737

Limits property insurers to non-renewing no more than 5% of their in-force policies annually in lava zones during a declared state of emergency in Hawaii County.

Permits cancellations or non-renewals without the 5% limit for non-payment of premiums or when the insurer's financial soundness would be impaired.

Requires the Hawaii Property Insurance Association to remove any moratorium on new residential property insurance policies in lava zones when a state of emergency has been declared.

Allows insurers issuing new policies in lava zones to impose a waiting period of up to 6 months before coverage becomes effective.

Takes effect July 1, 2015.