Urging The Members Of Hawaii's Congressional Delegation To Introduce Legislation To Expand The National Flood Insurance Program To Include Lava And Earthquake Insurance.
Impact
The resolution addresses the current property insurance crisis affecting residents in lava zones. It points out the difficulties faced by local homeowners, particularly after a major insurer withdrew from the market, leading to increased reliance on the Hawaii Property Insurance Association (HPIA) which offers limited coverage at higher rates. By expanding NFIP to include lava and earthquake insurance, the resolution aims to alleviate the financial burden on residents who are often faced with exorbitant insurance premiums, thereby reducing their economic and social hardship.
Summary
Senate Resolution 27 (SR27) urges Hawaii's congressional delegation to introduce legislation that would expand the National Flood Insurance Program (NFIP) to include coverage for damages caused by lava flows and earthquakes. The resolution highlights the unique challenges faced by residents in Hawaii, particularly in areas like Puna, where volcanic activity and earthquakes pose significant risks to property. The creators of SR27 believe that expanding NFIP would provide vital insurance options for homeowners in these high-risk areas, helping them access more affordable and comprehensive coverage against natural disasters.
Sentiment
The sentiment surrounding SR27 is largely positive among proponents who view it as a necessary step towards safeguarding homeowners in high-risk areas of Hawaii. Supporters argue that the expansion of NFIP is essential to provide residents with more options and security. There may be concerns regarding the feasibility of implementing such insurance coverage within the present structure of NFIP, but the overall sentiment is one of urgency to address the immediate needs of communities affected by geological hazards.
Contention
While SR27 calls for the expansion of coverage, there could be contention regarding the implications for federal policy and funding. Some may argue about the potential costs associated with expanding NFIP, especially in states prone to natural disasters. Discussions may also center around the adequacy of federal regulations to cover the unique risks posed by lava flows and earthquakes, as well as the longer-term sustainability of such programs in light of an increasing number of climate-related disasters.
Same As
Urging The Members Of Hawaii's Congressional Delegation To Introduce Legislation To Expand The National Flood Insurance Program To Include Lava Insurance.
Same As
Urging The Members Of Hawaii's Congressional Delegation To Introduce Legislation To Expand The National Flood Insurance Program To Include Lava And Earthquake Insurance.
Urging The Members Of Hawaii's Congressional Delegation To Introduce Legislation To Expand The National Flood Insurance Program To Include Lava And Earthquake Insurance.
Urging The Members Of Hawaii's Congressional Delegation To Introduce Legislation To Expand The National Flood Insurance Program To Include Lava Insurance.
Urging The Members Of Hawaii's Congressional Delegation To Introduce Legislation To Expand The National Flood Insurance Program To Include Lava Insurance.
Urging The Congress Of The United States To Enact A National Reinsurance Program To Address The Multi-state Insurance Crisis Resulting From Catastrophic Natural Disasters.
Urging The Congress Of The United States To Enact A National Reinsurance Program To Address The Multi-state Insurance Crisis Resulting From Catastrophic Natural Disasters.
Urging Hawaii's Congressional Delegation To Introduce And Support Legislation That Would Repeal The $10,000 Limitation On The Deduction For State And Local Taxes Enacted By The Federal Tax Cuts And Jobs Act Of 2017.
Requesting The Director Of Commerce And Consumer Affairs To Convene A Working Group To Study And Devise Comprehensive Strategies To Restore Accessible Insurance Options To Residents And Commercial Businesses In Lava Zones 1 And 2.
Urging The Members Of Hawaii's Congressional Delegation To Introduce Legislation To Expand The National Flood Insurance Program To Include Lava And Earthquake Insurance.