24 November 2014Law & regulation

Hawaii Insurance Commissioner re-elected by NAIC

Gordon Ito, Hawaii Insurance Commissioner, has been re-elected as the chairman of the National Association of Insurance Commissioners’ Western region.

This is the third term for Ito as the Western Region chairman.

"It is an honour to be chosen among my distinguished colleagues in the Western states," Ito said. "I am pleased that this allows me to represent Hawaii on a larger stage and to be part of the decision making the future of the insurance industry and its regulation."

The news came on the day the commissioner delivered testimony to the US House Subcommittee on Energy and Mineral Resources on "Volcano Hazards: Exploring the National Preparation and Response Strategy" in Washington. Ito discussed the challenges and fears regarding home insurance and the potential threat of lava as recently experienced in Pahoa.

"There have been a few nonrenewal notices send out, but to date, the insurers have rescinded the non-renewal due to the unavailability of insurance," Ito told the subcommittee.

The Insurance Division continues to monitor the lava flow activity and actions by the insurers.