HI SR79

Insurance Commissioner is requested to research and convene stakeholder discussions to consider a Wildfire Insurance Compact with strategic partner states that have similar wildfire risks or robust disaster management systems.

Wildfire Insurance Compact should focus primarily on risk pooling and informational technology sharing to mitigate and share the risks and costs associated with wildfires.

Insurance Commissioner is requested to research necessary legislation for funding policies and programs through the Compact via taxes or surcharges on existing taxes.

Insurance Commissioner is requested to research and discuss policies and programs that would directly benefit vulnerable populations and communities through a Wildfire Insurance Compact.

Resolution prompted by August 8, 2023 Maui wildfires that killed at least 115 people, destroyed over 2,200 buildings, and caused billions in property losses.