REQUESTING THE INSURANCE COMMISSIONER TO RESEARCH AND CONVENE STAKEHOLDER DISCUSSIONS TO CONSIDER THE CONCEPT OF A WILDFIRE INSURANCE COMPACT.

This Senate Resolution asks Hawaii's Insurance Commissioner to explore creating a Wildfire Insurance Compact with other states facing similar wildfire risks. The proposal focuses on sharing insurance costs through risk pooling and exchanging data to better manage wildfire threats. If developed, the compact would aim to protect homeowners and vulnerable communities while ensuring the state has a plan to fund these shared insurance programs. The resolution directs the Commissioner to propose any necessary laws to support this initiative and transmit the plan to the relevant officials.