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Senate orders detailed report on private property insurance after testimony on steep premium increases
Summary
SCR 155 and SR 125 requesting a detailed report from the insurance commissioner passed unamended; testimony from a policyholder described a 300% increase in master policy premiums and questioned the data insurers used to justify rate increases.
Senate committees on April 1 passed SCR 155 and SR 125 requesting the insurance commissioner produce a detailed report on the state of Hawaii's private property insurance industry after multiple written testimonies and in-person remarks.
A homeowner and association treasurer, Jeff Sodino, testified that his master policy premium has risen about 300% since 2022 and that his most recent renewal included a $70,000 increase—roughly $60,000 of which he was told reflected higher building…
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