HI SB2952

Requires insurers to provide written notification to policyholders of any rate changes approved by the insurance commissioner, beginning January 1, 2027

Notifications must be sent at least 60 days before the rate change takes effect and may be delivered by mail or electronically if the policyholder consented

Required notification contents include the new rate and effective date, percentage increase or decrease, reasons for the change (such as claims experience or inflation), and contact information for questions

Insurers failing to comply face administrative penalties including fines or corrective actions as determined by the commissioner

Modeled after similar requirements in New Jersey and Washington to enhance transparency and allow policyholders time to seek alternative coverage if needed