SB14

Hawaii SB14 prohibits insurers from increasing premiums for property, homeowner's, or renter's insurance without specific approval and reporting.

Hawaii SB14 amends the state's insurance laws by adding a new section that restricts insurers from raising premiums for property, homeowner's, or renter's insurance upon renewal, effective January 1, 2026. Insurers may only increase premiums if they submit a detailed actuarial report to both the policyholder and the commissioner and receive approval from the commissioner. Violators face fines and must make restitution to affected policyholders. The act will be repealed on January 1, 2029.