HR 155 Summary

• Director of Commerce and Consumer Affairs requested to convene a working group to study and develop strategies for restoring accessible insurance options in Lava Zones 1 and 2 on Hawaii island.

• Working group to explore equitable premium application, reducing Hawaii Property Insurance Association (HPIA) premiums, expanding HPIA coverage to commercial businesses, implementing subsidies or financial assistance programs, and creating risk pooling mechanisms.

• Working group membership includes the Director of Commerce and Consumer Affairs (chair), Insurance Commissioner, one state senator, one state representative, Hawaii County Mayor, Hawaii County Council chairperson, HPIA Board chairperson, one small business owner in lava zones, one homeowner in lava zones, and other members as deemed necessary.

• Initial working group meeting required by July 1, 2024, with final report and recommendations due to the Legislature no later than twenty days before the 2025 Regular Session convenes.

• Working group scheduled to dissolve on June 30, 2025.