Hawaii Hurricane Insurance: Fact File

AUGUST 2016

  • Hawaii’s costliest hurricane, based on insured property losses, was Hurricane Iniki in September 1992. Iniki caused $1.6 billion in damage when it occurred, or $2.7 billion in 2014 dollars.
  • Iniki ranks 18th for insured losses for hurricanes in the United States, in dollars when occurred, according to the Property Claim Services (PCS) division of Verisk Analytics.
  • Hawaii had 59,962 flood insurance policies in force in 2015, according to the National Flood Insurance Program. Standard homeowners policies typically do not cover flood damage. Flood insurance is covered by the National Flood Insurance Program.
  • Flood insurance in force in Hawaii in the National Flood Insurance Program totaled $13.3 billion in 2015.
  • Significant storms hitting Hawaii include: the Kohala Cyclone in 1871, Hurricane Nina in 1957, Hurricane Dot in 1959, Hurricane Iwa in 1982 and Hurricane Iniki in 1992. The National Weather Service has a more complete list at: http://www.prh.noaa.gov/cphc/summaries/.

 

Top 10 Writers Of Commercial Insurance In Hawaii By Direct Premiums Written, 2015 (1)

 

Rank Group/company Direct premiums written ($000) Market share
1 Tokio Marine Group $175,351 13.9%
2 Island Holdings Inc. 86,754 6.9
3 American International Group (AIG) 78,903 6.2
4 Hawaii Employers' Mutual Insurance Co. 72,405 5.7
5 Allianz Group 56,570 4.5
6 Chubb Ltd. (2) 56,154 4.4
7 MS&AD Insurance Group Holdings Inc. 54,781 4.3
8 Zurich Insurance Group (3) 46,338 3.7
9 Liberty Mutual 40,770 3.2
10 Dongbu Insurance Co. Ltd. 40,272 3.2

(1) Before reinsurance transactions.
(2) Chubb Ltd. data reflects the 2015 merger with Ace Ltd.
(3) Data for Farmers Insurance Group of Companies and Zurich Financial Group (which owns Farmers' management company) are reported separately by S&P Global Market Intelligence.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Top 10 Writers Of Homeowners Insurance In Hawaii By Direct Premiums Written, 2015 (1)

 

Rank Group/company Direct premiums written ($000) Market share
1 State Farm Mutual Automobile Insurance $119,205 32.3%
2 Heritage Insurance Holdings Inc. 63,879 17.3
3 Tokio Marine Group 31,618 8.6
4 USAA Insurance Group 30,246 8.2
5 Allstate Corp. 21,131 5.7
6 Dongbu Insurance Co. Ltd. 16,983 4.6
7 Island Holdings Inc. 13,792 3.7
8 American International Group (AIG) 11,345 3.1
9 Ocean Harbor Insurance Group 11,228 3.0
10 Liberty Mutual 9,781 2.7

(1) Before reinsurance transactions.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Top 10 Writers Of Private Passenger Auto Insurance In Hawaii By Direct Premiums Written, 2015 (1)

 

Rank Group/company Direct premiums written ($000) Market share
1 Berkshire Hathaway Inc. $170,811 24.7%
2 State Farm Mutual Automobile Insurance 126,545 18.3
3 USAA Insurance Group 86,563 12.5
4 Allstate Corp. 59,441 8.6
5 Farmers Insurance Group of Companies (2) 52,417 7.6
6 Progressive Corp. 49,017 7.1
7 Tokio Marine Group 40,784 5.9
8 Liberty Mutual 30,215 4.4
9 Island Holdings Inc. 20,272 2.9
10 MS&AD Insurance Group Holdings Inc. 20,069 2.9

(1) Before reinsurance transactions.
(2) Data for Farmers Insurance Group of Companies and Zurich Financial Group (which owns Farmers' management company) are reported separately by S&P Global Market Intelligence.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

View Archived Tables