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Hawaii's governor signed a bill to stabilize condo insurance, creating new options and a relief fund.
Governor Josh Green of Hawaii signed Senate Bill 1044, aiming to stabilize the state's insurance market for condominiums.
The bill expands the Hawaii Property Insurance Association's powers, providing additional insurance options and a revolving fund for high-impact repairs.
It reactivates the Hawaii Hurricane Relief Fund to offer coverage when private insurance is unavailable.
The law also introduces a loan program to help reduce insurance costs for condos.
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El gobernador de Hawai firmó un proyecto de ley para estabilizar el seguro de condominios, creando nuevas opciones y un fondo de ayuda.