STAND. COM. REP. NO. 1395

Honolulu, Hawaii

, 2005

RE: H.C.R. No. 4

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Consumer Protection & Commerce, to which was referred H.C.R. No. 4 entitled:

"HOUSE CONCURRENT RESOLUTION REQUESTING THE INSURANCE COMMISSIONER TO INVESTIGATE THE ADVISABILITY OF ENTERING INTO INTERSTATE COMPACTS WITH OTHER STATES CONCERNING CERTAIN PERILS AFFECTING THE COST OF HOMEOWNER'S INSURANCE,"

begs leave to report as follows:

The purpose of this concurrent resolution is to request the Insurance Commissioner to investigate the advisability of entering into interstate compacts with other states concerning certain perils affecting the cost of homeowner's insurance.

The Hawaii Association of Realtors supported this concurrent resolution. The Department of Commerce and Consumer Affairs supported the intent of this measure.

Your Committee finds that Hawaii residents are having problems obtaining and securing affordable homeowner's insurance, and are constrained by budget limitations, policies against establishing social insurance, and an oligarchic insurance market. Your Committee finds that the lack of affordable insurance could be addressed by cooperative interstate efforts with other states experiencing the same difficulties.

Your Committee has amended this measure by:

(1) Changing the term "homeowner's insurance" to "property and casualty insurance", thus widening the scope of insurance that can be studied by the Insurance Commissioner while still including homeowner's insurance;

(2) Changing the title to:

"HOUSE CONCURRENT RESOLUTION REQUESTING THE INSURANCE COMMISSIONER TO INVESTIGATE THE ADVISABILITY OF ENTERING INTO INTERSTATE COMPACTS WITH OTHER STATES CONCERNING CERTAIN PERILS AFFECTING THE COST OF PROPERTY AND CASUALTY INSURANCE"; and

(3) Making technical, nonsubstantive amendments for clarity, consistency, and style.

As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 4, as amended herein, and recommends its adoption in the form attached hereto as H.C.R. No. 4, H.D. 1.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

 

____________________________

KENNETH HIRAKI, Chair