HI SB802

Requires property insurers to provide written notice to policyholders and the Insurance Commissioner at least a specified number of days before renewal if premiums will increase by 10% or more, including explanations of causes such as risk factors, claims history, market conditions, policy changes, and detailed premium breakdowns.

Mandates property insurers file annual rate schedules, underwriting criteria, and reports with the Insurance Commissioner detailing average premium increases, reasons for increases, and policyholder complaints.

Directs the Insurance Commissioner to conduct periodic reviews of insurance rates for compliance with state law and rate-setting practices, and submit annual reports to the Legislature summarizing findings and recommendations.

Establishes a public reporting and dispute resolution program administered by the Insurance Commissioner, including a consumer hotline and appeals process for policyholders to challenge premium increases, with decisions required within 30 calendar days.

Requires property insurers to provide premium discounts or credits to policyholders who implement disaster risk mitigation measures such as wind-resistant roofing, flood-proofing systems, and fire suppression systems, effective July 1, 2050.