The purpose of this article is to establish the Hawaii Property Insurance Association to:

(1) Assure stability in the property insurance market for property located in the State;

Terms Used In Hawaii Revised Statutes 431:21-101

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
(2) Assure the availability of basic property insurance as defined by this article; and
(3) Provide for the equitable distribution among member insurers of the responsibility for insuring qualified property for which basic property insurance cannot be obtained through the authorized insurers.