HI SCR164

Requests the Risk Management Office of the Department of Accounting and General Services to assess feasibility of a three-year parametric disaster insurance pilot program for Hawaii, financed using investment income from the Hawaii hurricane relief fund.

Directs the assessment to include consultation with the Ala Wai Watershed Partnership on using the Ala Wai Watershed as a pilot site and with the Hawaii Emergency Management Agency on disaster response integration.

Requires evaluation of establishing a parametric disaster insurance special fund that would receive interest from the hurricane reserve trust fund, insurance policy payouts, and legislative appropriations.

Mandates research into insurance companies with parametric expertise, government experience, and ability to design tailored insurance structures using various data sources.

Requires submission of findings, recommendations, and any proposed legislation to the Legislature no later than 20 days before the start of the 2018 Regular Session.