Hawaii HB590 offers insurance discounts to condominium associations for risk mitigation upgrades and regulates premium increases for properties with.
Hawaii HB590 amends the state's insurance laws to provide discounts on insurance premiums for condominium associations that implement specific risk mitigation upgrades. These upgrades include installing impact-resistant windows, flood barriers, drainage improvements, fire-resistant materials, and smart building technologies. The bill also mandates that property insurers offer discounts if associations develop comprehensive disaster response plans.
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