HI HCR36

Urges the Department of Land and Natural Resources to examine and consider reef insurance as a nature-based solution to protect Hawaii's coastlines and coastal infrastructure from natural disasters.

Requires the department to collaborate with the State Insurance Commissioner, county agencies, The Nature Conservancy, and insurance experts to develop a report including term sheets for a Hawaii reef insurance policy, priority insurance sites, potential buyers and sellers, and recommended funding mechanisms.

Directs the department to identify and propose specific nature-based projects that protect coastal infrastructure from inundation, including insurance and market mechanisms to incentivize public and private investment in reef and coastal system protection and restoration.

Mandates submission of findings, recommendations, and any proposed legislation to the Legislature no later than twenty days before the Regular Session of 2022.

References Mexico's 2019 reef insurance policy in Quintana Roo and its $850,000 payout after Hurricane Delta, and notes a 2020 Nature Conservancy feasibility assessment found reef insurance to be ecologically and economically viable for Hawaii.