Bill saves Hawaii homeowners from losing billions of dollars in federal flood insurance coverage.
Photo: Office of the Governor
A crucial bill, shepherded through the Legislature by Mililani representative Ryan Yamane (Mililani, Waipio Gentry, Waikele), to keep Hawaii protected under the National Flood Insurance Program (NFIP) was signed by Governor David Ige during a public signing ceremony at the State Capitol.
Last year NFIP officials informed the state that it did not comply with federal flood insurance regulations and faced suspension from the program. Yamane, chair of the House Water and Land committee, led the proactive and collaborative effort by the state, the four counties, Federal Emergency Management Agency Region IX, Hawaii Farm Bureau, Hawaii Association of Realtors, and Hawaii’s insurers, banks, and builders, to restore Hawaii’s eligibility in the program by introducing House Bill 1418 SD1.
Yamane thanked the Governor for signing this important piece of legislation saying, “For many of our residents their homes are the biggest single investment they own. Hawaii homeowners can trust that their federal flood insurance will remain in place to protect them from future flood disasters.”
In the last 35 years that Hawaii has been participating in the program, FEMA paid out 4,600 claims totaling over $87 million. Currently, there are over 60,000 flood insurance policies totaling over $13.4 billion throughout the state, which would have been cancelled without the bill.
Watch video of signing.
