Urging The Insurance Division Of The Department Of Commerce And Consumer Affairs And Department Of The Attorney General To Convene A Working Group To Identify Feasible Options And Mechanisms To Protect The State And Its Residents Against The Effects Of Climate Change On The Availability And Affordability Of Insurance.
Impact
The primary goal of SR111 is to safeguard Hawaii residents from soaring insurance costs and to preserve access to affordable insurance amidst growing climate disasters. This resolution highlights the significant threats that ongoing and severe climate events pose not only to individual citizens but also to public resources such as the Hawaii Hurricane Relief Fund. It recognizes a compelling state interest in ensuring the insurance market remains robust and that residents do not bear the financial burden alone due to actions by fossil fuel companies that have exacerbated climate issues.
Summary
Senate Resolution 111 (SR111), introduced in the Hawaii Legislature, calls for action to address the challenges posed by climate change on the state's insurance market. The resolution urges the Insurance Division and the Attorney General's office to form a working group that will examine the risks and complications that climate change creates for the availability and affordability of insurance. This comes in response to increasing insurance premiums and nonrenewals that have destabilized the property and casualty insurance market in Hawaii, largely attributed to climate-related disasters. The focus is on providing necessary coverage for residents while maintaining market stability.
Sentiment
The sentiment surrounding SR111 is largely supportive among lawmakers, as it aims to conduct a critical analysis of Hawaii's insurance challenges through collaborative efforts from various experts and stakeholders. However, the acknowledgment of fossil fuel companies' deceptive practices elicits controversy, suggesting that the resolution taps into broader environmental and corporate accountability issues. There is hope that this initiative will pave the way for effective policy changes that address not only immediate insurance concerns but also long-term climate-related impacts.
Contention
Despite the broad support, some opposition may arise regarding the implementation of SR111's recommendations, particularly concerning the legal means available to hold fossil fuel companies accountable for damages caused by climate change. Key discussion points may revolve around whether these entities can or should be made to financially contribute towards alleviating the impact of climate disasters on Hawaii's insurance market. Furthermore, there could be concerns about the working group's ability to effectively assess and propose feasible solutions within a potentially limited timeframe, as its findings are to be reported prior to the commencement of the Regular Session in 2027.
Same As
Urging The Insurance Division Of The Department Of Commerce And Consumer Affairs To Convene A Working Group To Identify Feasible Options And Mechanisms To Protect The State And Its Residents Against The Effects Of Climate Change On The Availability And Affordability Of Insurance.
Same As
Urging The Insurance Division Of The Department Of Commerce And Consumer Affairs To Convene A Working Group To Identify Feasible Options And Mechanisms To Protect The State And Its Residents Against The Effects Of Climate Change On The Availability And Affordability Of Insurance.
Requesting The Office Of Consumer Protection Of The Department Of Commerce And Consumer Affairs To Convene A Task Force To Assess Issues Related To The Availability Of Payment Options From Tow Companies.
Requesting The Office Of Consumer Protection Of The Department Of Commerce And Consumer Affairs To Convene A Task Force To Assess Issues Related To The Availability Of Payment Options From Tow Companies.
Encouraging Hawaii Insurers And The Hawaii Property Insurance Association To Reduce Insurance Costs On Local Residents By Pursuing Subrogation Claims Against Polluters Who Knowingly Engaged In Misleading And Deceptive Practices Regarding The Connection Between Their Products And Climate Change.
Urging The Department Of Land And Natural Resources Division Of Forestry And Wildlife To Prioritize The Restoration And Protection Of Additional Wetlands And Anchialine Pools.
Encouraging Hawaii Insurers And The Hawaii Property Insurance Association To Reduce Insurance Costs On Local Residents By Pursuing Subrogation Claims Against Polluters Who Knowingly Engaged In Misleading And Deceptive Practices Regarding The Connection Between Their Products And Climate Change.
Requesting The Department Of Commerce And Consumer Affairs To Establish And Convene A Pharmacy Reimbursement Working Group To Explore And Propose Legislation For The 2026 Legislative Session.
Requesting The Department Of Commerce And Consumer Affairs To Establish And Convene A Pharmacy Reimbursement Working Group To Explore And Propose Legislation For The 2026 Legislative Session.
Requesting The Director Of Commerce And Consumer Affairs To Establish And Convene A Pharmacy Reimbursement Working Group To Explore And Propose Legislation For The 2026 Legislative Session.
Urging The Congress Of The United States To Enact A National Reinsurance Program To Address The Multi-state Insurance Crisis Resulting From Catastrophic Natural Disasters.