STAND. COM. REP. NO. 504-16
Honolulu, Hawaii
, 2016
RE: H.B. No. 370
H.D. 1
Honorable Joseph M. Souki
Speaker, House of Representatives
Twenty-Eighth State Legislature
Regular Session of 2016
State of Hawaii
Sir:
Your Committee on Consumer Protection & Commerce, to which was referred H.B. No. 370 entitled:
"A BILL FOR AN ACT RELATING TO HAWAII PROPERTY INSURANCE ASSOCIATION,"
begs leave to report as follows:
(1) Prevents the nonrenewal of an existing policy in effect as of January 1, 2014, where the sole criterion for nonrenewal is a pending natural disaster; and
(2) Provides for continued coverage under an existing policy upon a transfer in ownership of the property.
Upon careful consideration, your Committee has amended this measure by deleting its contents and inserting the provisions of H.B. No. 2322, which also amends HPIA coverage requirements in the context of a looming or past natural disaster such as a lava flow. As amended, this measure grants the Insurance Commissioner the discretion, subject to certain conditions, to lift an existing moratorium on the issuance of policies for properties situated in a lava zone.
As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 370, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 370, H.D. 1, and be referred to your Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,
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____________________________ ANGUS L.K. McKELVEY, Chair |
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