Hawaii Revised Statutes 431p. Hawaii Hurricane Relief Fund

PART I. GENERAL PROVISIONS

• 431p-1 Definitions.
  As used in this chapter, unless the context otherwise requires: "Board" means the board of directors of the Hawaii hurricane relief fund. "Commissioner" means...
• 431p-2 Establishment of Hawaii Hurricane Relief Fund.
  There shall be a Hawaii hurricane relief fund to be placed within the department of commerce and consumer affairs for administrative purposes. The fund...
• 431p-3 Board of Directors.
  (a) The board of directors of the fund shall consist of the insurance commissioner as an ex officio voting member and six members appointed...
• 431p-4 Planning and Assessment Functions of the Fund; Discretion to Provide Insurance.
  (a) The fund shall be responsible for monitoring the availability of property insurance, including insurance for covered events, in this State. If at any...
• 431p-5 Powers, Duties, and Functions.
  (a) The Hawaii hurricane relief fund shall have the following general powers: (1) To sue and be sued; (2) To make and alter policies...
• 431p-5.5 Accumulation of $500,000,000 in Funds and Commitments.
  (a) Upon written confirmation from the insurance commissioner that the director of finance has secured $500,000,000, in the aggregate, in the form of: (1)...
• 431p-6 Advisory Committee.
  To assist it in implementing this chapter the fund may appoint an advisory committee consisting of: (1) Not less than one individual who is...
• 431p-7 Plan of Operation.
  (a) The fund shall adopt a plan of operation and a manual of rules and rates necessary or suitable to ensure both the solvency...
• 431p-8 Annual Statements.
  (a) The fund shall submit to the commissioner each year, not later than one hundred twenty days after the end of the fund's fiscal...
• 431p-9 Powers of the Commissioner.
  (a) For the purpose of ascertaining the fund's condition or compliance with this chapter, the commissioner shall examine the accounts, records, documents, and transactions...
• 431p-10 Coverage Available From the Fund; Deductible.
  (a) Policies issued by the fund shall provide a maximum aggregate coverage of up to $750,000 per risk on real property of one to...
• 431p-11 Underlying Policy Required; Hurricane Coverage Shall Be Provided.
  (a) Any eligible property for which coverage is sought from the fund shall already be insured by an underlying policy of property insurance as...
• 431p-12 Mitigation.
  The fund shall develop a comprehensive loss reduction plan for the hurricane peril. The plan shall include standards for new residential and commercial structures...
• 431p-13 Appeals.
  (a) Any applicant or policyholder adversely affected by a decision of the fund shall have the right to appeal to the fund's board within...
• 431p-14 Immunity and Limitation on Liability.
  There shall be no liability on the part of, and no cause of action of any nature shall arise against, any servicing facility or...
• 431p-15 Exemption From Property and Liability Insurance Guaranty Association; Insolvency of Fund.
  Notwithstanding any other provision of law to the contrary, neither the fund nor its policyholders shall be subject to the provisions of, or be...
• 431p-16 Establishment of Trust Funds.
  (a) The fund shall establish outside the state treasury a hurricane reserve trust fund and any accounts thereunder and any other trust fund or...
• 431p-16.5 Immunity.
  There shall be no cause of action, claim for damages or relief, charge, or any other liability of any kind whatsoever created against the State,...
• 431p-17 Additional Notice Requirement.
  Thirteen months prior to discontinuation of writing property insurance coverage, an insurer shall file an affidavit with the commissioner stating the reasons for the...
• 431p-18 Exemption for Hawaiian Home Lands.
  Nothing in this chapter shall prohibit or limit any person from obtaining insurance for property subject to the Hawaiian Homes Commission Act of 1920,...

Last modified: October 27, 2016