Hawaii HB254 amends insurance laws to enhance transparency and consumer protection in property insurance.
Hawaii HB254 introduces new requirements for insurers offering property insurance, focusing on transparency and consumer protection. Insurers must notify policyholders of premium increases of 10% or more at least 30 days before renewal, detailing the reasons and factors contributing to the increase. Insurers must also provide premium discounts for policyholders who implement disaster risk mitigation measures.
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