Lava insurance moratorium lifted

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Hawaii Property Insurance Association is now accepting all new business applications and coverage increase requests, according to a statement Tuesday by the state insurance commissioner.

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Hawaii Property Insurance Association is now accepting all new business applications and coverage increase requests, according to a statement Tuesday by the state insurance commissioner.

“This is an opportunity to safeguard against unexpected property damage,” said Hawaii Insurance Commissioner Gordon Ito. “We want to thank our lawmakers for taking steps to pass legislation to lift the moratorium.”

Act 32, which was signed into law on May 5, requires HPIA to lift any moratorium on the issuance of residential property insurance within lava zones declared to be under a lava flow-related state of emergency by Hawaii County Mayor Billy Kenoi.

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The lifting of the moratorium is an opportunity to access property insurance, which was previously restricted due to the Puna lava flow. Consumers are encouraged to contact their insurance agent for more information.

A lava information brochure and a homeowners’ premium comparison chart may be viewed at: cca.hawaii.gov/ins.

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