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HI HCR126
Concurrent Resolution
Status
3/10/2017
Primary Sponsor
Isaac Choy
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AI Summary
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Requests the Risk Management Office of the Department of Accounting and General Services to assess the feasibility of a three-year parametric disaster insurance pilot program for Hawaii.
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Directs the assessment to evaluate establishing a parametric disaster insurance special fund financed by interest from the hurricane reserve trust fund, insurance policy payouts, and legislative appropriations.
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Requires consultation with the Ala Wai Watershed Partnership regarding the watershed as a pilot project site and with the Hawaii Emergency Management Agency on disaster response implementation.
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Mandates research into insurance companies with parametric insurance experience, government expertise, and capability to design tailored coverage structures using various data sources.
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Requires submission of findings, recommendations, and proposed legislation to the Legislature no later than twenty days before the 2018 Regular Session convenes.
Legislative Description
Requesting That The Risk Management Office Of The Department Of Accounting And General Services Assess And Report To The Legislature Regarding The Feasibility Of A Three-year Parametric Disaster Insurance Pilot Program For The State Of Hawaii.
DAGS
Last Action
The committee(s) on PBS recommend(s) that the measure be deferred.
3/23/2017