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Bill

SB 1376

RELATING TO THE STABILIZATION OF PROPERTY INSURANCE.

2026 Regular Session Introduced by Ron Kouchi

SB 1376 seeks to stabilize Hawaii's property insurance market facing insurer exits and premium increases through regulatory or support mechanisms.

Carried over to 2026 Regular Session.
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Bill Summary · SB 1376

Legislative bill overview

SB 1376 addresses Hawaii's property insurance market stability, though the bill text details are not provided in your submission. Based on the title and context, it likely proposes measures to regulate or support the property insurance market, which has faced significant challenges in Hawaii due to rising premiums, insurer withdrawals, and increased natural disaster risks. The bill was introduced in the 2025 session and carried over to 2026 for continued consideration.

Why is this important

Hawaii's property insurance market has experienced substantial disruption, with major insurers exiting the state and remaining insurers raising premiums substantially. Homeowners and businesses face affordability and availability challenges that directly impact property values, economic growth, and disaster preparedness. Legislative action in this area affects both consumers' ability to obtain coverage and the state's overall economic stability.

Potential points of contention

  • Government involvement scope: Whether the state should expand its role through rate regulation, insurer requirements, or expansion of the state insurer of last resort (Hawaii FAIR Plan), versus allowing market-driven solutions
  • Cost allocation: Who bears the burden of stabilization costs—insurers, policyholders, taxpayers, or some combination—and whether solutions are equitable across different property types and communities
  • Market competitiveness: Balancing protections for consumers against concerns that heavy regulation could discourage private insurers from operating in Hawaii or increase costs further

Compiled from official sources — confirm details with the bill’s official record.

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