HI HB2053

Establishes a cap on homeowners insurance premiums for residential properties located in lava zones, limiting premiums to no more than 150% of the statewide average for comparable properties not in lava zones.

Defines "lava zone" using the same definition as section 431:10E-141 of Hawaii Revised Statutes.

Applies to residential property insurance policies entered into, amended, or renewed on or after the effective date of the Act.

Takes effect upon approval by the Governor.