A commentary on insurance coverage issues in Hawaii and beyond
The New York Times reports that a special Florida State Senate committee is conducting hearings this week to investigate the soaring cost of hurricane insurance. After the 2004 and 2005 hurricane seasons, insurance companies complained about huge cost increases because of rising prices of reinsurance, the coverage they purchase for catastrophic events. Last
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The Hawaii Insurance Code provides that a cancellation notice sent by the insurer shall not be deemed valid unless evidence of mailing is provided. Haw. Rev. Stat. §431:10-226.5. What if the insurer sends the notice by certified mail, but the notice is returned as undelivered? Although never addressed by the Hawaii Supreme Court, …
Subject to the dangers of hurricanes, Hawaii has an interest in the vitality of the National Flood Insurance Program (NFIP) that is set to expire on September 30, 2008, unless renewed by Congress.
The program was created in1968 because the private sector does not adequately provide flood insurance. Under the program, …
Reuters reports that a battle is forming in the Senate regarding legislation to reform federal flood insurance. Congress established the flood program in 1968 to provide flood insurance that private companies refused to offer.
The Senate Banking Committee voted unanimously in October to reform the program, but refused to follow the …
