Homeowners insurers in Hawaii ordered to submit new filing for rates

Gordon I. Ito, Insurance Commissioner of Hawaii has ordered all of the homeowner insurers in that state to file new rates following a review by the Insurance Division which determined that the current rates being charged to policyholders were “excessive” when they were compared to data from the National Association of Insurance Commissioners (NAIC). On June 8, 2011, a memorandum was issued by Insurance Commissioner Ito, stating that homeowner insurers are required to have their rate filings reviewed by the Insurance Division for their approval. According to Ito, following a…

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