SB 2682 Summary

• Authorizes the Insurance Commissioner to issue limited licenses to owners, operators, and employees of self-service storage facilities to sell or solicit property insurance for tenants' stored belongings.

• Allows limited line licensees to act only on master, corporate, individual, or group property insurance policies covering personal effects stored in self-service storage facility units.

• Addresses gap in insurance market where self-storage customers often lack homeowners' or renters' insurance and find it difficult to obtain affordable coverage for stored property through traditional insurance channels.

• Adds new subsection (5) to Hawaii Revised Statutes Section 431:9A-107.5(a) establishing this limited license category alongside existing limited licenses for travel insurance, vending machines, and credit insurance producers.

• Takes effect upon approval.