HI SB2777

Property insurers in Hawaii must disclose claims payment statistics from the previous calendar year when making offers to sell or renew policies, including total claims opened, closed with payment, closed without payment, and claims remaining open at year-end.

Disclosures must be provided concurrently with any offer to sell or renew property insurance and displayed in a clearly and conspicuously readable manner.

Violations of the disclosure requirement carry fines up to $1,000 per violation, plus the insurer must pay attorneys' fees and costs incurred by the state in enforcement actions.

The legislation addresses rising property insurance costs due to climate change by ensuring consumers have access to complete claims information when comparing insurance options.

Effective date is July 1, 2050.