US EditionNew Law Aims to ‘Stabilize’ Insurance Market for Condos in Hawaii - Hawaii Tribune-Herald
HAWAII, JUL 8 – The law aims to stabilize Hawaii's insurance market, offering up to 70% savings on hurricane coverage for condominiums amid rising premiums and insurer withdrawals, officials said.
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New law aims to ‘stabilize’ insurance market for condos in Hawaii - West Hawaii Today
Gov. Josh Green on Monday signed into law Senate Bill 1044, a measure intended “to stabilize our insurance market” for condominium owners and their associations amid escalating premiums and dwindling coverage options.
New law aims to ‘stabilize’ insurance market for condos in Hawaii - Hawaii Tribune-Herald
Gov. Josh Green on Monday signed into law Senate Bill 1044, a measure intended to “to stabilize our insurance market” for condominium owners and their associations amid escalating premiums and dwindling coverage options.
Condos Under Pressure - Hawaii Business Magazine
An ongoing insurance crisis has hurt condo sales on O‘ahu: Prices are down and properties are lingering on the market more than three times longer than in 2022. The biggest factor is the rising price of insurance. When the insurance coverage on a condo building is not 100% of the cost to rebuild, many banks and other mortgage lenders are reluctant to lend money to people wanting to buy condos there. “The challenges we face with condo insurance –…
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