Property insurance moratorium lifted for Puna district affected - Hawaii News Now - KGMB and KHNL

Property insurance moratorium lifted for Puna district affected by lava flow

File image from last year's Puna lava flow File image from last year's Puna lava flow
PUNA, BIG ISLAND (HawaiiNewsNow) -

Hawaii Property Insurance Association, the company set up by the state of Hawaii to provide insurance for homes in high-risk lava zones on the Big Island, has lifted a moratorium on purchasing insurance for homes affected by last year's lava flow in Puna. 

State officials are urging residents to take advantage of purchasing property insurance now before another lava flow or natural disaster threatens homes. Before an impending disaster, insurance industry experts said it's routine that insurance companies stop issuing new coverage until the threat passes.

"This is an opportunity to safeguard against unexpected property damage," Hawaii Insurance Commissioner Gordon Ito said in a statement. "We want to thank our lawmakers for taking steps to pass legislation to lift the moratorium."

Act 32, which was signed into law on May 5, requires HPIA to lift any moratorium on property insurance in lava zones that the Hawaii Mayor declares to be under a state of emergency.

Evacuations were ordered in Pahoa last year due to the Puna lava flow, which claimed a home on Cemetery Road.

For more information, go to http://cca.hawaii.gov/ins or call (808) 586-2790.

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