SB1563

Establishes the Office of Insurance Consumer Affairs to promote transparency and protect policyholders in Hawaii.

The bill establishes the Office of Insurance Consumer Affairs within the Department of Commerce and Consumer Affairs to advocate for policyholders, monitor insurance companies, and ensure rate transparency. The office will provide plain-language guides, support policyholders in disputes, and host public forums. Insurance companies must submit rate setting methodologies and data to the office for approval and public disclosure. Policyholders can challenge rate calculations through mediation and arbitration. The office will also publish an annual report on complaints and enforcement actions.