THE SENATE
S.B. NO.
14
THIRTY-THIRD LEGISLATURE, 2025
STATE OF HAWAII
A BILL FOR AN ACT
relating to insurance.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 431, Hawaii Revised Statutes, is amended by adding a new section to article 10E to be appropriately designated and to read as follows:
"[Underlined: §431:10E- ] [Underlined: Property insurance; homeowner's insurance; renter's insurance; premium increase; prohibition; penalties.] [Underlined: (a) Beginning January 1, 2026, this section shall apply to any insurer offering property, homeowner's, or renter's insurance in the State.]
[Underlined: (b) Notwithstanding sections 431:14-103 and 431:14-103.3, no insurer shall increase the premium for a policyholder's insurance policy upon renewal; provided that an insurer may increase the premium for a policyholder's insurance policy upon renewal if the insurer:]
[Underlined: (1)] [Underlined: Submits to the policyholder and the commissioner a detailed report containing actuarial data unrelated to natural disasters supporting the proposed premium increase; and]
[Underlined: (2)] [Underlined: Receives approval from the commissioner before the proposed premium increase takes effect.]
[Underlined: (c) In addition to any other penalties provided by the laws of the State, any insurer violating this section shall be subjected to a fine of up to $ and shall be ordered to make restitution to the policyholder whose premium was increased in violation of this section in an amount not less than $ .]"
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval and shall be repealed on January 1, 2029.
INTRODUCED BY:
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Report Title:
Property Insurance; Homeowner's Insurance; Renter's Insurance; Premium Increase; Prohibition; Insurance Commissioner
Description:
Beginning January 1, 2026, prohibits an insurer of property, homeowner's, or renter's insurance from increasing the premium for a policyholder's insurance policy upon renewal unless the insurer submits a report to the policyholder and Insurance Commissioner and receives approval from the Insurance Commissioner. Establishes penalties. Sunsets 1/1/2029.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.