Hawaii 2025 Regular Session

Hawaii House Bill HCR79 Compare Versions

Only one version of the bill is available at this time.

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1	1	HOUSE OF REPRESENTATIVES H.C.R. NO. 79 THIRTY-THIRD LEGISLATURE, 2025 STATE OF HAWAII HOUSE CONCURRENT RESOLUTION requesting the insurance commissionER to conduct a STATEWIDE study on title insurance.
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3	3	HOUSE OF REPRESENTATIVES H.C.R. NO. 79
4	4	THIRTY-THIRD LEGISLATURE, 2025
5	5	STATE OF HAWAII
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7	7	HOUSE OF REPRESENTATIVES
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9	9	H.C.R. NO.
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11	11	79
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13	13	THIRTY-THIRD LEGISLATURE, 2025
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17	17	STATE OF HAWAII
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29	29	HOUSE CONCURRENT
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31	31	RESOLUTION
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37	37	requesting the insurance commissionER to conduct a STATEWIDE study on title insurance.
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43	43	WHEREAS, insurance is a form of risk management designed to protect the consumer from financial loss resulting from unknown or unforeseen events; and WHEREAS, a title insurance policy is purchased with a one-time payment that protects buyers from unknown claims that may affect the property value or compromise ownership rights in a property; and WHEREAS, increased upfront costs for the purchase of a home, including title insurance, creates a financial barrier for many prospective buyers; and WHEREAS, decreasing costs or eliminating title insurance requirements may help alleviate some financial strain on prospective homeowners, creating additional pathways for residents to purchase their own homes; now, therefore, BE IT RESOLVED by the House of Representatives of the Thirty-third Legislature of the State of Hawaii, Regular Session of 2025, the Senate concurring, that the Insurance Commissioner is requested to study the impacts of reforming title insurance requirements or eliminating title insurance statewide to help reduce financial barriers to home ownership; and BE IT FURTHER RESOLVED that the Insurance Commissioner is requested to submit a report of its findings and recommendations, including any proposed legislation, to the Legislature no later than twenty days prior to the regular session of 2026; and BE IT FURTHER RESOLVED that a certified copy of this Concurrent Resolution be transmitted to the Insurance Commissioner. OFFERED BY: _____________________________ Report Title: DCCA; Insurance Division; Title Insurance; Housing; Homeownership
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45	45	WHEREAS, insurance is a form of risk management designed to protect the consumer from financial loss resulting from unknown or unforeseen events; and
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49	49	WHEREAS, a title insurance policy is purchased with a one-time payment that protects buyers from unknown claims that may affect the property value or compromise ownership rights in a property; and
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53	53	WHEREAS, increased upfront costs for the purchase of a home, including title insurance, creates a financial barrier for many prospective buyers; and
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57	57	WHEREAS, decreasing costs or eliminating title insurance requirements may help alleviate some financial strain on prospective homeowners, creating additional pathways for residents to purchase their own homes; now, therefore,
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61	61	BE IT RESOLVED by the House of Representatives of the Thirty-third Legislature of the State of Hawaii, Regular Session of 2025, the Senate concurring, that the Insurance Commissioner is requested to study the impacts of reforming title insurance requirements or eliminating title insurance statewide to help reduce financial barriers to home ownership; and
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65	65	BE IT FURTHER RESOLVED that the Insurance Commissioner is requested to submit a report of its findings and recommendations, including any proposed legislation, to the Legislature no later than twenty days prior to the regular session of 2026; and
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69	69	BE IT FURTHER RESOLVED that a certified copy of this Concurrent Resolution be transmitted to the Insurance Commissioner.
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77	77	OFFERED BY: _____________________________
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81	81	OFFERED BY:
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83	83	_____________________________
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95	95	Report Title:
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97	97	DCCA; Insurance Division; Title Insurance; Housing; Homeownership