Hawaii Homeowner Insurance Rates “Excessive”

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Hawaii homeowners pay “excessive rates” for insurance, according to state Insurance Commissioner Gordon Ito.

In a news release today, Ito said he made that determination after reviewing rate data gathered by the National Association of Insurance Commissioners.


“I concluded that rates should not be this high for homeowners who are struggling during these tough economic times,” Ito said.

He has directed all property insurance carriers in Hawaii to submit new rate filings.

The Hawaii Insurance Council, a trade organization that represents and lobbies for property and casualty insurance carriers in Hawaii, did not respond to a request for comment.

Ito said a 2009 NAIC report found that losses incurred by Hawaii homeowner insurers “are significantly below the national average and far below the levels necessary for insurers to earn reasonable rates of return.”

The new rate schedules must be filed  by October 6.

“By implementing rate reductions,” Ito said, “the Insurance Division seeks to help homeowners keep more money that is theirs and in turn, this will contribute in turning Hawaii’s economy around.”






  1. Where has the state insurance commissioner for the last few years. I would think that all insurance rates would be checked annually.

  2. I would like to see the before and after rates so we can all see what “excessive” means.

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