HI SB589

Limits insurers to non-renewing no more than 5% of property insurance policies annually in lava zones where the Hawaii county mayor has declared a state of emergency due to lava flow threat.

Allows insurers to cancel or non-renew policies when premium payments are not made or when the commissioner determines the insurer's financial soundness would be impaired.

Requires the Hawaii Property Insurance Association to remove its moratorium on issuing new residential property insurance policies in lava zones during a declared state of emergency.

Permits the Hawaii Property Insurance Association to impose a maximum waiting period of six months before new policy coverage takes effect for properties without current insurance in affected lava zones.