HI SB2851

Amends Hawaii Revised Statutes Section 431:21-119 to require the Insurance Commissioner to determine whether residential property insurance is unavailable before the Hawaii Property Insurance Association removes its moratorium on policies.

Applies to properties in lava zones where the county of Hawaii mayor has issued a proclamation declaring a state of emergency due to threat of imminent lava flow disaster.

Upon moratorium removal, the association shall offer new policies with a waiting period of no longer than six months before coverage takes effect.

Waiting period applies only to residential property in lava zones that does not currently have insurance.

Takes effect upon approval.