The state now requires a new level of coverage, but boaters say it’s impossible to get The state of Hawaii has announced a new rule it wants boaters in the state to follow regarding their boat insurance coverage, but many people are saying that despite their best attempts, it’s not possible to comply. Coverage is required in order to use any of the state’s harbors However, the new regulation would have boaters purchasing $100,000 in boat insurance coverage for salvaging a vessel that has run aground. This is the case…
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Travel insurance claims abound among those who planned a Maui vacation
Travelers who booked trips to the Hawaiian island devastated by wildfires are seeking to cancel. The Maui wildfires are causing people who had intended to travel to the island to look to their travel insurance and credit cards to obtain a refund for the plans they had booked but that they now intend to cancel. Many people who had intended to head to the Hawaiian island now want refunds for their trips. This unfortunate situation is being used by many agents as a reminder to clients about the importance of…
Read MoreHawaii lava damage will be covered, says Insurance Commissioner
Destroyed homes will be covered by standard homeowners policies, according to Gordon Ito. The Hawaii lava damage caused by Kilauea’s eruption will be covered by homeowners insurance policies, said Hawaiian Insurance Commissioner, Gordon Ito. Ito made it clear that homes damaged or destroyed by the lava flow into a Big Island neighborhood will be covered. This should come as a relief to homeowners previously uncertain as to their coverage, as reported by Live Insurance News. Ito has been Hawaii’s insurance commissioner since 2010 and is NAIC Western Zone chair. Ito…
Read MoreHawaii volcano insurance coverage becomes serious concern
Residents of the side of the Big Island closest to Kilauea have been forced to evacuate. Hawaii volcano insurance has become a central topic in the state following earthquakes and Kilauea’s eruption. Several more quakes have been followed by new fissures opening. As residents have complied with a mandatory evacuation, the next worry is the damage. Dozens of structures have already been destroyed by the lava spraying across the Hawaiian neighborhoods, according to a CNN report. The report revealed that not all homeowners insurance policies in the affected area necessarily…
Read MoreInsurance company liquidation will leave thousands without coverage
Many Hawaii residents will lose their health plans following the liquidation order of a local provider. A court order has now sent a Hawaii insurance company called Family Health Hawaii (FHH) into liquidation which means that thousands of people who’d had plans through that provider will be losing their coverage. The court order was signed by First Circuit Court Judge Karen Nakasone, authorizing Insurance Commissioner Gordon to take over. Commissioner Gordon will be taking both control and possession over the insurance company and its assets, becoming the liquidator. He will…
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