HI HB255

Requires insurers to provide written premium change notices to condominium associations, planned community associations, and cooperative housing corporations when renewal premiums increase by a specified percentage threshold

Premium change notices must explain contributing factors including water damage claims, wastewater plumbing replacements, fire safety devices, directors' and officers' liability claims, reinsurance costs, and catastrophic industry losses

Insurers must respond to policyholder requests for additional premium information within a specified number of calendar days and file copies of all premium change notices with the Insurance Commissioner

Retroactive requirement for insurers to provide written explanations for premium increases that occurred between January 1, 2022, and December 31, 2024, for common interest community policyholders

Insurance Commissioner must review all submitted statements and report findings and recommendations to the legislature no later than twenty days before the 2026 regular session