HomeMy WebLinkAboutCOM 0397.028 2022-2024 P ( oEAG
Ro,223-a3
00141.597
From: Andrea Rosanoff
Sent: Monday, August 14, 2023 6:30 AM
To: Council Testimony7=^ ?
Subject: Rule 223 for hearing of 8-16-23
Andrea Rosanoff's testimony to the Govt Affairs committee Tuesday, August 16..
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The purpose of the State of HI statute setting up HPIA was, and I quote directly from the statute, to
"create an entity which will provide appropriately priced basic property insurance for owners and
occupants of property in high-risk areas for major natural disasters." It seems that this statute has
served Hawaii well for over 30 years, but that somehow, with the latest lava flow of 2018, compliance
with this basic Statutory purpose has gone awry, and thus the HPIA Board of Directors and Insurance
Commissioner actions are out of compliance with this basic purpose of the State of Hawaii Statute
governing them. We currently are experiencing in Lava Zones 1 & 2, people losing their insurance,
becoming susceptible to foreclose, in danger of not being able to sell or refinance their real property
or having their insurance rates skyrocket while their coverage is decreased. This situation is exactly
what the Hawaii Statue creating HPIA was supposed to prevent:
Now I'm not in the insurance business nor am I an actuary, something is suddenly amiss. Clearly, the
HPIA ship appears to be off track, and needs to be righted. Thus I am in favor of a County Council
resolution measure urging the State to take action on this insurance issue. Given our new
environment with the Lahaina disaster, this becomes even more necessary. But while this long term
insurance problem needs to be addressed, I do not exaggerate when I say that the short term
problem of for residents in Lava zones 1 & 2 is urgent.
I'd like to see the immediate insurance needs of Lava Zones 1 & 2 addressed asap by the statutorily
responsible entity, HPIA. In order to come into compliance, HPIA needs to revisit their recent
insurance premium decisions.
A. Rosanoff, Ph.D.
Director
CMER Center for Magnesium Education & Research
13-1255 Malama St.
Pahoa, HI 96778
www.MagnesiumEducation.com /jt/1•T6
Comm. No.
808-965-7061 Ref. To: pilaf/
1 Ref. Dote A1 5 2023