HI HCR74

Requests the Insurance Commissioner to conduct a feasibility study on insurance policies and premiums for properties located within lava zones on the island of Hawaii.

Directs the study to evaluate whether insurance companies should be required to base homeowner and dwelling fire insurance rates on actuarial loss studies rather than USGS lava zone maps.

Directs the study to evaluate whether insurance companies should be prohibited from basing rates on maps, reports, or studies conducted for scientific or civil defense purposes.

Notes that Lava Zone 1 in Puna District has had no volcanic eruptions in populated areas for over 400 years and no losses attributed directly to volcanic activity, yet premiums are 3-4 times higher than other areas.

Requires the Insurance Commissioner to submit a report with findings and recommendations to the Legislature no later than twenty days before the 2018 Regular Session convenes.