Hawaii SB2966 mandates insurers to automatically refund unearned premiums, adjust future premiums, and notify policyholders of available coverage.

Hawaii SB2966 aims to improve transparency and fairness in property insurance following natural disasters. It requires insurers to automatically refund any unearned premium to policyholders within thirty days of a total loss, without requiring the policyholder to request it. The bill also mandates insurers to adjust premiums for future policy terms to reflect the absence of a dwelling, structure, or contents.

Hawaii SB2966 mandates insurers to automatically refund unearned premiums, adjust future premiums, and notify policyholders of available coverage.

Hawaii SB2966 aims to improve transparency and fairness in property insurance following natural disasters. It requires insurers to automatically refund any unearned premium to policyholders within thirty days of a total loss, without requiring the policyholder to request it. The bill also mandates insurers to adjust premiums for future policy terms to reflect the absence of a dwelling, structure, or contents.