HI HCR105

Requests property and casualty insurers to temporarily discount premiums for businesses employing ten or fewer employees to assist with COVID-19 pandemic recovery.

Requires premium discounts to remain in effect for the duration of the COVID-19 pandemic or for one year, whichever is longer.

Bases request on reduced insurance claims due to decreased business activity, lower liability exposure, and fewer motor vehicle accidents from stay-at-home orders.

Notes approximately 125,000 small businesses in Hawaii collectively employ more than 250,000 individuals and 80% of small business owners nationwide reported negative pandemic impacts.

Directs the Insurance Commissioner to distribute copies of this resolution to all insurance companies that transacted property and casualty insurance in Hawaii during 2019.