09-07-2023, 07:11 PM
My first post. Please be gentle.
https://www.hawaiitribune-herald.com/202...s-1-and-2/
By MICHAEL BRESTOVANSKY Hawaii Tribune-Herald | Thursday, September 7, 2023, 12:05 a.m.
Hawaii County Council members are once again urging the state to take action against a looming insurance crisis that could leave hundreds of Puna residents unable to afford coverage.
When Florida insurer Universal Property and Casualty Insurance Co. announced in July that it will leave the Hawaii home and condo insurance market at the end of August 2024, hundreds of the provider’s Puna customers found themselves between a rock an a hard place.
Without UPC, the only other coverage available in Lava Zones 1 and 2 is through the state’s Hawaii Property Insurance Association, an insurance provider of last resort expressly established to underwrite coverage in high-risk areas that providers would otherwise be unwilling to enter.
But HPIA’s insurance premiums have ballooned since the 2018 Kilauea eruption, and many UPC customers have found that their rates would go up by 400% or more.
The County Council passed a resolution on Wednesday strongly urging immediate action by several state bodies
https://www.hawaiitribune-herald.com/202...s-1-and-2/
By MICHAEL BRESTOVANSKY Hawaii Tribune-Herald | Thursday, September 7, 2023, 12:05 a.m.
Hawaii County Council members are once again urging the state to take action against a looming insurance crisis that could leave hundreds of Puna residents unable to afford coverage.
When Florida insurer Universal Property and Casualty Insurance Co. announced in July that it will leave the Hawaii home and condo insurance market at the end of August 2024, hundreds of the provider’s Puna customers found themselves between a rock an a hard place.
Without UPC, the only other coverage available in Lava Zones 1 and 2 is through the state’s Hawaii Property Insurance Association, an insurance provider of last resort expressly established to underwrite coverage in high-risk areas that providers would otherwise be unwilling to enter.
But HPIA’s insurance premiums have ballooned since the 2018 Kilauea eruption, and many UPC customers have found that their rates would go up by 400% or more.
The County Council passed a resolution on Wednesday strongly urging immediate action by several state bodies