There is much confusion and misinformation about the Hawaii Hurricane Relief Fund (HHRF). Here is a letter from Gordon Ito, State Insurance Commissioner, that appeared in the Honolulu Star-Advertiser this morning. It provides official information on HHRF:
Hurricane fund can be restarted
We would like to clear up some misconceptions about the Hawaii Hurricane Relief Fund.
After Hurricane Iniki devastated Kauai in 1992, many insurers stopped writing hurricane coverage. The HHRF was the state’s response to provide hurricane insurance when there were limited private insurers available.
HHRF ceased operations when private insurers returned to the market in 2002, and has not collected any revenues since then. The monies remaining in the fund are kept to reactivate the coverage if necessary.
Every homeowner in Hawaii should already have hurricane insurance, which would cover any claims when a hurricane hits.
HHRF will be needed only if a hurricane strikes and an inadequate amount of private insurance is available.
The state will utilize HHRF to address the state’s fiscal crisis, and will incorporate provisions to quickly restart HHRF when necessary.
State insurance commissioner