Transcript Highlights:

• And so those that are 400% and over, we're seeing this was an effort to stabilize their premium, but
• If it did stabilize the premiums.
• this was an effort to stabilize this was an effort to stabilize their<02:43:46.840> premium,<
• their premium, but it didn't stabilize their premium, but it didn't stabilize the<02:43:49.080><
• And so if it did stabilize the premiums.

Keywords: 916, all

Transcript Highlights:

• Reinsurance was designed to stabilize that market and help premiums down, and it has done so with remarkable
• Reinsurance was designed to stabilize that market and help premiums down, and it has done so with remarkable
• Reinsurance was designed to stabilize that market and help premiums down, and it has done so with remarkable
• Reinsurance was designed to stabilize that market and help premiums down, and it has done so with remarkable
• premiums down bring premiums<01:15:05.600> down.

Keywords: 1187, senate, all

Transcript Highlights:

• And with the last rate increase that was filed with the division, the premium is stabilizing now in terms
• And with the last rate increase that was filed with the division, the premium is stabilizing now in terms
• And with the last rate increase that was filed with the division, the premium is stabilizing now in terms
• And with the last rate increase that was filed with the division, the premium is stabilizing now in terms
• And with the last rate increase that was filed with the division, the premium is stabilizing now in terms

Keywords: 910, house, all

Summary: The joint committees held an informational briefing on efforts to expand insurance capacity in Hawaii’s property market, especially for condominium and homeowners coverage. The Insurance Commissioner reviewed the background: a legislative task force, the governor’s emergency proclamation in August 2024, and Senate Bill 1044 in May 2025 led to new condo insurance products. He said the work over the past two and a half years was producing positive results and introduced representatives from HPIA and HHRF/HHR to provide updates. HPIA’s board chair and its administrator described the organization’s history, structure, and current products. HPIA said it was created in 1991 as a residual market for homeowners insurance, now writing four residential products: HO2 homeowners, renters, HO6 condo unit owners, and dwelling fire. They reported policy counts have grown again as admitted-market carriers tightened underwriting, and they discussed financial pressure from reinsurance costs, though those costs had declined in 2025 after different purchasing decisions. They also said the market has become more favorable overall, with some capacity returning and deductibles beginning to ease. Members focused much of their questioning on HPIA’s proposed higher dwelling limits. HPIA explained that the current $450,000 limit for homeowners and dwelling fire was set in 2023, but agents are now asking for a higher limit in the $650,000 to $750,000 range because construction costs have risen and many policies are not being submitted when the limit is too low. HPIA said it has the authority to raise the limit through a filing with the Insurance Division and expects more submissions if the cap increases. They also discussed the shift in the book of business from roughly 70% lava-zone coverage to closer to a 50/50 split between lava and non-lava risks. HPIA outlined strategic initiatives: a new policy administration system that went live October 1 and now allows online payments, online claims reporting, and electronic notices; a filed request to raise the homeowners and dwelling fire limit to $650,000 effective March 1 for new business and April 1 for renewals; an increase in the HO6 condo unit owners limit from $5,000 to $100,000; and a planned commercial property all-other-perils-excluding-hurricane condo product targeted for filing by January 31. No votes were taken, and the meeting was informational only.

Transcript Highlights:

• they otherwise be paying in premiums. they otherwise be paying in premiums.
• <00:35:30.240> We to the premium security account. We to the premium security account.
• and stabilize the market.
• /c><00:43:45.359> premium drove huge premium drove huge premium increases,<00:43:47.280> carriers
• making double-digit premium increases. making double-digit premium increases.

Keywords: 1187, senate, all

Transcript Highlights:

• <00:12:22.880> of focused on the health and stability of focused on the health and stability
• stability is safety and soundness.
• stability is that stability<00:45:55.119> is stability is stability is safety<00:45:57.680>
• go too much into it so the premium go too much into it so the premium security<00:56:31.839>
• > by how much are we raising premiums by how much are we raising premiums by charging Charging

Keywords: 1183, house

Transcript Highlights:

• These factors have led to a sharp increase in insurance premiums.
• minus the amount paid in premiums in 2023, the base of your premium, on residential property valued
• To remain insured and to defray costs of increased premiums,...
• Why should the state government profit from a 40% increase in premium?
• will be forced to provide rate stabilization at the ballot box.

Summary: The Assembly Committee on Revenue and Taxation met under suspense-file procedures, with the chair explaining limits on testimony, position letters, and that bills with fiscal impacts of $150,000 or more would generally be sent to suspense rather than voted on immediately. Several bills were pulled from hearing, and a consent calendar of committee bills later passed 4-0. AB 761 by Addis, the only item initially slated for a vote, was ultimately held over to the next hearing. The committee heard testimony on a series of tax-related proposals. AB 232 would create catastrophe savings accounts for homeowners to save pre-tax money for wildfire, flood, or earthquake-related expenses; it drew support from the Department of Insurance and the California Bankers Association, but was sent to suspense. AB 1443 would exempt tips from state income tax for five years and was supported by the California Restaurant Association and a restaurant owner, but also went to suspense. AB 1435 would provide relief to businesses and property owners facing cleanup and security costs from unauthorized encampments and illegal dumping; it received broad support from business, real estate, trucking, retail, and local government representatives, and was referred to suspense. The committee also heard AB 1428, which would create a California Affordable Child Care Fund financed by a 0.5% tax on income above $10 million; child care workers and SEIU-backed witnesses supported it, while taxpayer and business groups opposed it as harmful to competitiveness and affordability. AB 691 proposed a tax credit for adopting shelter pets and covering veterinary costs, AB 1219 proposed a middle- and low-income personal income tax cut, AB 1354 proposed a credit for increased homeowners insurance premiums, AB 19 proposed an education savings account/voucher-style program, and AB 567 proposed insurance rate stabilization and related tax/fund changes; each drew testimony for and against where present, but all were referred to suspense. The meeting ended with the committee adjourning after the held-over AB 761 item was postponed.

Transcript Highlights:

• lot of engagement and have some workforce stability standards, which is really critical.
• billion in premium support for Covered California enrollees.
• If the enhanced premium tax credit is not extended by Congress, federal premium subsidy levels will drop
• will lose federal premium support entirely.
• Prior to these federal subsidies, California ran its own premium subsidy program.

Keywords: 988, house, all

Transcript Highlights:

• or allocate the money to premium stabilization or to a guarantee fund. program's capital exceeds 600%
• It could be just stabilizing premiums or whatever. Is am I getting that right?
• It could be just stabilizing premiums<00:35:54.800> or<00:35:55.119> whatever.
• or to leave things as is and use those funds for premium stabilization and things like that.
• for premium use those funds for premium stabilization<00:57:27.839> and<00:57:28.880> um

Keywords: 1189, house, all

Summary: The subcommittee took up the pooled risk management program bill and reviewed a new amendment drafted with input from the Insurance Department and Legislative Services. Department witnesses explained that the proposal would move oversight of pooled risk management programs from the Secretary of State’s office to the Insurance Department, add a licensure requirement, preserve the programs’ non-insurer status, and exempt them from third-party administrator licensure. They also described a series of solvency tools in the draft, including financial reporting, risk-based capital standards, minimum capitalization, investment limits, commissioner examination and enforcement authority, rulemaking authority, merger and affiliate-transaction review, confidentiality protections, and a separability clause. A major theme of the discussion was that pooled risk management programs differ from commercial insurers because the risk remains with the member local governments rather than being backed by a state guarantee fund. Witnesses said the bill is designed to emphasize solvency over return of premium and to give the Insurance Department a regulatory “toolbox” to prevent insolvency, including a proposed $5 million excess or stop-loss coverage benchmark, optional accessible policies, and a requirement that boards vote on dividends or premium returns when capital exceeds 600% of risk-based capital. Members questioned how this approach differed from the original Secretary of State bill and whether assessments on towns would still be possible; the department responded that the new framework would allow more flexible oversight and alternatives to immediate court action. The committee also discussed why the statute should continue to say the programs are not insurers, with the department explaining that this preserves their autonomy and avoids applying unrelated insurance laws and premium taxes. Members asked about the department’s workload and were told the department believed it could absorb the new duties without additional funding. No vote or final committee action was taken in the portion provided.

Transcript Highlights:

• stabilized? stabilized?
• to cover any ACA premiums. to cover any ACA premiums.
• the expiration of the enhanced premium the expiration of the enhanced premium tax<01:32:55.600><
• monthly, you know, their the premiums monthly, you know, their the premiums that<01:37:26.800>
• really depends on how we can stabilize really depends on how we can stabilize the<01:52:29.920><

Keywords: 912, senate, all

Summary: The joint informational briefing by the Health and Human Services and Commerce and Consumer Protection committees focused on projected impacts to Hawaii consumers from federal changes affecting Med-QUEST and the ACA marketplace, including the loss of ACA premium tax credits, OBVA/HR1-related Medicaid changes, immigrant eligibility restrictions, and new Medicaid work/community engagement requirements. Committee members noted the meeting was being streamed live and emphasized the need to explain potential coverage losses affecting a significant share of the state population. Med-QUEST administrators reported current enrollment at 390,766, about 27% of Hawaii’s population, and broke that down into major groups including roughly 128,000 ACA expansion adults and about 52,000 parent/caretaker relatives. They said the expansion adult population would be most affected by the new federal requirements, which will shorten renewal periods from 12 months to 6 months and impose community engagement rules beginning in late 2026 and 2027. They described the work requirement as 80 hours per month of work, community service, work program participation, or half-time education, with an income-based pathway tied to $580 per month at the federal minimum wage; they also noted a long list of exemptions, but said many details are still awaiting federal guidance and rulemaking. The administrators said federal changes to immigrant eligibility would eliminate Medicaid coverage for certain noncitizen categories, with an estimated 1,200 to 2,400 people affected, though about 200 may remain covered through a state-funded program for otherwise eligible individuals. They also said marketplace subsidies would no longer be available for some immigrants under 100% of the federal poverty level starting January 1, 2026, with further restrictions expected in 2027. For Hawaii overall, they estimated the new Medicaid work and renewal rules could push an additional 19,000 to 38,000 people into uninsured status, with another estimated 6,000 at risk from the six-month renewal process alone. Members asked about how exemptions would be determined, especially for medically frail and seriously mentally ill individuals, and administrators said they were still awaiting detailed federal rules and were working on data-matching and verification processes to reduce coverage losses.

Transcript Highlights:

• One is the housing stabilization $3 million for fiscal year ending 2027 to DHHS for their housing stabilization
• One is the housing stabilization $3 million for fiscal year ending 2027 to DHHS for their housing stabilization
• million<01:02:53.839> for<01:02:54.559> uh stabilization uh $3 million for uh stabilization
• <01:10:10.800> are uh and follow up when the premiums are uh and follow up when the premiums
• <01:10:38.000> as the reason why we pick premiums as the reason why we pick premiums as opposed

Keywords: 1191, senate, all

Transcript Highlights:

• No matter the methodology, companies compare past premiums, losses, and expenses to projected premiums
• **Speaker:** No, that's premiums; yes, premiums were $1.8 billion, and coverage was the $1.5 billion
• No matter the methodology, companies compare past premiums, losses, and expenses to projected premiums
• So we've gone from 20% of people's premiums being for reinsurance to 60% of people's premiums being for
• One point—that's premiums though, that's not coverage. No, that is premiums.

Keywords: 1185, senate, all

Transcript Highlights:

• that we're forming a select committee ...to dig into the federal impact on Minnesotans' economic stability
• that, for the next decade or so, will cause real damage to Minnesota families, to their economic stability
• , uh and to many of the systems stability, uh and to many of the systems that<00:01:00.719> we
• <00:10:38.320> healthcare October uh the new premiums healthcare October uh the new premiums
• 10:39.600> and<00:10:39.760> we're premiums will come out and we're premiums will come

Keywords: 1187, senate, all

Transcript Highlights:

• And that's stabilization.
• Next, enhanced premium tax credits and the advanced premium credits.
• And premiums.
• which is a very good premium.
• individual premiums.

Transcript Highlights:

• The average admitted market homeowners pretty premium is $2,755.
• collective, which is the total collection of premium in the state.
• premium rate for short period of time.
• And I'm going to show premium level and a couple of slides.
• We pay or premiums to you. And I can say, you know what?

Transcript Highlights:

• Insurance premiums.
• And you will see either prices stabilize his income down or come down.
• But what hasn't always gone down for consumers is their premium.
• But what hasn't always gone down for consumers is their premium.
• But the thing is, your consumers are paying more in premium. They are.

Summary: The subcommittee held its first meeting on homeowners property insurance, with members from both parties introducing themselves and repeatedly noting that insurance affordability, roof condition, claims handling, and storm recovery are top concerns for their districts. Chair Yeager said the meeting was intended as an educational discussion rather than a legislative debate, and introduced a panel that included Insurance Commissioner Mike Yaworski, consumer Chad Carr, agent Mary Catherine Lawler, insurer executive Melissa Burt DeVries, and policyholder attorney Chip Merlin. The panel and members discussed major cost drivers in Florida homeowners insurance, including inflation, home age, roof age, mitigation features, claims history, litigation costs, reinsurance, and the Florida Hurricane Catastrophe Fund. Commissioner Yaworski said underwriting has become more sophisticated and that litigation costs, reinsurance, and replacement-cost inflation all affect premiums; he also said litigation is down about 30% and average requested rate increases have fallen from about 22.1% in 2022 to 0.8% today. DeVries said age of home, replacement cost, roof age, and coverage choices can materially change premiums, and explained that reinsurance is a major expense passed through to consumers. Merlin emphasized transparency concerns, argued that insurers are increasingly individualizing risk, and said consumers often struggle with coverage limits, deductibles, and claim denials. Members asked about flood coverage, hurricane deductibles, managed repair programs, mitigation credits, new insurer capitalization, and whether savings from reforms are reaching consumers. Yaworski explained that flood is generally excluded from homeowners policies and covered separately, that hurricane deductibles are mandatory in Florida and usually around 5%, and that the office tracks savings from reforms through rate filings and insurer discussions. He said the state is updating mitigation discounts and monitoring new entrants closely for solvency and market conduct. Several members and panelists said recent reforms have helped reduce some abuses and litigation, but many consumers are still seeing higher premiums because replacement costs and reinsurance remain elevated. No votes or formal actions were taken.

Transcript Highlights:

• In 2025, we are at about $2,800 for our average premium. So not a huge growth in average premium.
• In 2025, we are at about $2,800 for our average premium. So not a huge growth in average premium.
• But $682 was our premium.
• But we need to charge an appropriate premium.
• In 2021, our average premium was $1,139.

Summary: The Assembly Insurance Committee held an oversight hearing on the California Fair Plan, focused on the plan’s rapid growth, its financial stability after the January Southern California wildfires, and its role as the insurer of last resort. Fair Plan officials explained that the plan was created in 1968, is a not-for-profit involuntary association of licensed property insurers, and is intended to be a temporary safety net until policyholders can return to the admitted market. They emphasized that the plan is not a state agency or taxpayer-funded, but is regulated by the Department of Insurance and supported by member-company assessments if claims exceed available funds. Victoria Roach and Armand Feliciano said the Fair Plan has grown sharply since 2018 and especially after market pullbacks by major insurers, reaching about 575,000 policies and roughly $600 billion in exposure by spring 2025. They noted that growth is increasingly occurring in lower wildfire-risk areas, where the plan can sometimes be cheaper than the voluntary market, and said this undermines depopulation back into the private market. They also discussed recent policy expansions, including coverage for farms, higher residential and commercial limits, and pending or proposed changes such as AB 290, SB 525, and AB 226, which would add tools like a line of credit and bond access. A major portion of the hearing addressed the January wildfire losses and the plan’s financial response. Fair Plan officials said they assessed member insurers for $1 billion after determining claims and cash flow would exceed available resources, and that the process was approved quickly and paid smoothly, with more than 80% of the assessment collected within 10 days. They also described the reinsurance tower, the plan’s limited surplus, and the need for actuarially sound rates to reduce future reliance on assessments. On claims handling, they said the plan has received over 5,500 claims from the fires, has paid more than $2.9 billion so far, expects total payments near $4 billion, and has focused on advancing payments quickly for total losses and other urgent needs. Members questioned the plan’s solvency, the growth in non-wildfire areas, claim denials, smoke-loss coverage, and how depopulation works. Roach said most closed claims without payment were duplicates rather than denials, and that smoke claims require direct physical loss under the policy, with coverage determined case by case. Public commenters from the California Building Industry Association and the Independent Insurance Agents and Brokers of California said the Fair Plan’s growth reflects a weak voluntary market, inadequate rates, and insurer fear of future assessments, and urged support for rate increases and AB 226. The hearing concluded with no vote, but with a commitment from Fair Plan officials to follow up on unanswered questions and continue providing more transparency through public data and website disclosures.

Transcript Highlights:

• But we've stabilized the industry.
• Rates have stabilized. Also, the number of lawsuits that have gone down.
• They've stabilized. Before you can go down, you've got to stabilize.
• But at the moment, we have citizens who have paid their insurance premiums.
• We do, in our premiums.

Summary: The committee met to hear five banking and insurance-related bills. HB 1549, an Office of Financial Regulation agency bill to help more efficiently regulate financial institutions, was amended to match Senate companion language and then passed unanimously. HB 1231 would extend physician payment and prior-authorization protections similar to a prior dental law, including limits on virtual credit card payments as the sole payment method; physicians and medical groups supported it as a way to reduce fees and retroactive denials, while insurers were not heard in opposition, and the bill passed unanimously. The committee then heard HB 999, which would make gold and silver legal tender and allow transactions in bullion through electronic debit mechanisms. The sponsor and several proponents framed it as an inflation hedge and economic freedom measure, while questions focused on definitions, transaction costs, and vendor participation. The bill passed on a mostly party-line vote, with one member voting no. The committee also approved HM 4363, a memorial urging Congress to establish a sovereign wealth fund; the sponsor described it as a way to steward national wealth, and the memorial passed with one dissenting vote. Finally, the committee took up HB 1551, which would create a prevailing-party attorney fee framework in insurance contract disputes. The sponsor argued it would restore balance, deter meritless litigation, and help consumers with valid claims recover fees, while insurers, business groups, and defense attorneys warned it would revive one-way fee shifting, increase litigation, and raise premiums. Consumer advocates and some members supported it as necessary to give policyholders meaningful recourse. After debate, the bill passed favorably, with one member voting no.

Transcript Highlights:

• increase if upon renewal any premium increase if upon renewal premiums<00:10:33.120> are<00:10
• explanation for certain premium explanation for certain premium increases<00:10:53.360> during
• Second is that COMIC would have to pay premium taxes, which would increase the premiums otherwise charged
• <00:35:01.560> taxes comic would have to pay premium taxes comic would have to pay premium
• > inside<01:04:24.599> or premium stabilization fund is inside or premium stabilization fund

Keywords: 912, senate, all

Summary: The committee opened by outlining hearing procedures, including a two-minute limit for live testimony, a request not to repeat written testimony, and a reminder about decorum. The first bill heard was SB 697, which would create a nonrefundable individual income tax credit for expenses to retrofit residences with wind-resistive devices. The Insurance Division said it supported the concept but noted it may need an appropriation or outside expertise to develop certification standards, while the Department of Taxation said the bill should retain a third-party certification requirement if the Insurance Division cannot administer the credit. The Hawaii Insurers Council supported the bill, and the Tax Foundation suggested a subsidy-style program would be more efficient than a tax credit and criticized the bill’s 100% credit structure. A testifier in support argued the measure would help homeowners fortify houses against hurricanes and reduce shelter demand; written testimony from several others, including HIEMA, was noted as supportive. The committee then moved through SB 76, which would require the Hawaii Property Insurance Association to provide commercial property coverage after two private-market denials, and SB 83, which would require insurers to give advance written premium-change notices and explanations to common-interest community policyholders and the insurance commissioner, along with a report on premium increases. For SB 76, the State Insurance Division stood on its written comments, and testimony in support came from Michael Honda, the National Association of Mutual Insurance Companies, and Jessica Herzog. SB 83 drew more extensive discussion: the Insurance Division supported the need for better transparency, while the Hawaii Insurers Council opposed the bill, arguing that agents—not insurers—typically communicate with AOAO boards and that the measure could worsen an already difficult market. Insurance Division staff acknowledged widespread complaints from condo associations about lack of transparency and said the division had received many calls about premium increases and nonrenewals. The discussion on SB 83 expanded into broader concerns about condo insurance, nonrenewals, surplus lines, and the difficulty of getting timely explanations for large premium increases. Committee members and testifiers described older buildings struggling to fund repairs and upgrades while facing steep insurance costs, and some urged the committee to craft baseline statutory protections for unit owners. The Insurance Division said surplus lines serve a critical gap-filling role and warned against regulating that market in a way that could slow access to coverage. No votes or final committee actions were taken in the portion of the meeting provided.

Transcript Highlights:

• It allows TWA to borrow from the state's economic stabilization fund.
• As continued premium increases hurt residents and businesses alike along the coast.
• premiums for communities in Tier One counties.
• So your, your first, Is your CRT money that going in part of the premiums going into that.
• The only way to stabilize the property. Insurance market is to stop the losses.

Transcript Highlights:

• We're looking at 60,000 Minnesotans losing health care coverage just because of the increased premium
• Healthcare coverage just because of the increased premium, the loss of those tax credits.
• <00:03:26.800> benefits guarantees that those premium benefits guarantees that those premium
• cannot afford insurance if these premium cannot afford insurance if these premium tax<00:04:43.040
• rent sta stability. um rent assistance. rent sta stability. um rent assistance.

Keywords: 1187, senate, all