HomeMy WebLinkAboutRES 075 Draft 01 2020-2022 ••NtV•OF I/�'• i
COUNTY OF HAWAII i•i ,"/" .1 STATE OF HAWAII
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RESOLUTION NO. 75 21
A RESOLUTION URGING THE ADMINISTRATION TO CONDUCT A STUDY TO
ADDRESS THE LACK OF AVAILABLE AND AFFORDABLE PROPERTY
INSURANCE FOR RESIDENTS OF LAVA ZONES 1 AND 2.
WHEREAS, areas of Puna have historically been affected by property-damaging lava
flows and will continue to be exposed to that risk, as will other areas of Hawai'i County; and
WHEREAS, there are 43,533 acres of land (13.4% of land in Puna) containing 984
developed parcels (28.2% of all parcels in Puna) within Lava Zone 1; and
WHEREAS, there are 96,347 acres of land (29.7% of land in Puna) with 3,865 developed
parcels (25.9% of all parcels in Puna) within Lava Zone 2; and
WHEREAS, the developable properties that are within Lava Zones 1 and 2 are
considered"High Risk" for insurance companies; and
WHEREAS, the County may, pursuant to Hawai`i Revised Statutes Section 46 -1.5(26)
and Chapter 431, Article 19 (Captive Insurance Companies), establish a captive insurance
company; and
WHEREAS,the County has entered into a Community Development Block Grant—
Disaster Recovery Grant Agreement with the United States Department of Housing and
Urban Development, which includes funding for voluntary buyout programs, constructing
infrastructure, and assisting residential homeowners in any rehabilitation or reconstruction
program; now, therefore,
BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII that
the Department of Finance conduct a study to address the lack of available and affordable
property insurance, with such study to include, but not be limited to, all possible mechanisms,
including a captive insurance company, that are actuarially feasible for providing affordable
property insurance, either exclusively for Lava Zones 1 and 2 or in combination with other
areas and other risks.
BE IT FURTHER RESOLVED that the administration report on all findings or the
status of its study to the Council by October 31, 2021.
BE IT FINALLY RESOLVED that the County Clerk shall transmit a copy of this
resolution to the Honorable Mitchell D. Roth, Mayor; Lee E. Lord, Managing Director; the
director of the Department of Finance; the County Recovery Officer; and the State of Hawai`i
Insurance Commissioner.
Dated at , Hawai`i,this day of , 20_.
INTRODUCED BY:
Add
COUNCIL ME BER, CO' TY OF HAWAI'I
COUNTY COUNCIL ROLL CALL VOTE
County of Hawai`i AYES NOES ABS EX
Hilo, Hawai`i CHUNG
DAVID
I hereby certify that the foregoing RESOLUTION was by INABA
the vote indicated to the right hereof adopted by the COUNCIL of the KANEALI`I-KLEINFELDER
County of Hawai`i on
KIERKIEWICZ
KIMBALL
ATTEST: LEE LOY
RICHARDS
VILLEGAS
Reference: C-178/GOREDC
COUNTY CLERK CHAIRPERSON&PRESIDING OFFICER RESOLUTION NO. 75 21.
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