Establishes the Hawaii condominium mutual insurance company to provide property and casualty insurance for high-rise residential condominiums.

The bill establishes the Hawaii condominium mutual insurance company to provide property and casualty insurance coverage to high-rise residential condominiums and their unit owners. The company aims to stabilize the insurance market and offer coverage at the lowest possible cost. It includes provisions for the company's board of directors, oversight council, and building safety and management programs. The company will also participate in the property and liability insurance guaranty association starting January 1, 2027.

Establishes the Hawaii condominium mutual insurance company to provide property and casualty insurance for high-rise residential condominiums.

The bill establishes the Hawaii condominium mutual insurance company to provide property and casualty insurance coverage to high-rise residential condominiums and their unit owners. The company aims to stabilize the insurance market and offer coverage at the lowest possible cost. It includes provisions for the company's board of directors, oversight council, and building safety and management programs. The company will also participate in the property and liability insurance guaranty association starting January 1, 2027.