S.C.R. NO. 16 Summary

• Hawaii Property Insurance Association was established in 1991 to provide basic property insurance for persons unable to obtain coverage in the private market due to volcanic activity on Hawaii Island.

• Association currently offers four basic policies: dwelling, homeowner's, renter's, and unit-owner's policies with coverage limits ranging from $50,000 to $450,000.

• Association does not currently offer policies for commercial properties, limiting coverage options for business owners and proprietors unable to obtain private market insurance.

• Senate and House request that the Hawaii Property Insurance Association expand coverage to include commercial properties to ensure adequate insurance options during unforeseen events.

• Certified copies of the resolution will be transmitted to the Insurance Commissioner and Chairperson of the Board of Directors of the Hawaii Property Insurance Association.