Former Hawaii Speaker Scott Saiki becomes insurance chief

Former state House Speaker Scott Saiki is now Hawaii's insurance commissioner.

The state Department of Commerce and Consumer Affairs announced Saiki's appointment Wednesday.

Saiki, who lost his House seat Aug. 8 in Hawaii's Democratic Party primary election after 30 years in the Legislature, began serving as a special assistant in DCCA's Insurance Division in December and in February became acting chief deputy insurance commissioner.

Jerry Bump, who became acting insurance commissioner in February following the retirement of longtime Hawaii insurance commissioner Gordon Ito, has now returned to his prior role as chief deputy insurance commissioner.

DCCA Director Nadine Ando appointed Saiki to his new job heading DCCA's Insurance Division with approval from Gov. Josh Green.

"Scott has spent his career in public service, and his legal and legislative experience will be a tremendous asset as we navigate the significant challenges of the insurance marketplace, " Green said in a statement.

Saiki is an attorney who previously practiced disability and personal injury law. In the House, he represented a district covering much of Ala Moana, Kakaako and Downtown, and was House speaker from 2017 to 2024.

Public interest attorney and former state Board of Education member Kim Coco Iwamoto defeated Saiki in what represented her third run to represent House District 25.

While speaker, Saiki co-chaired Green's Executive and Legislative Condo and Property Insurance Task Force formed to contend with insurance provider departures and astronomical rate increases in recent years largely affecting condominium associations due to a rise in natural disasters generating catastrophic property losses around the world, which have made global reinsurance less available and more costly.

One effort made by lawmakers earlier this year to alleviate some of the high costs for condo building insurance was a bill passed to reactivate the Hawai i Hurricane Relief Fund and allow it to provide condo building coverage that is intended to be less expensive than "surplus " carrier policies, which cost much more than policies offered by a few large insurance companies that do business in Hawaii and are regulated by the Insurance Division.

DCCA said applications are being accepted by HHRF, which is governed by a board.

HHRF polices for hurricane damage do not cover losses under $10 million. To obtain coverage, a condo association must have been previously denied hurricane coverage by at least two state licensed insurance companies operating in Hawaii.

Saiki, in a statement, said he looks forward to building on past work of the Insurance Division to make insurance coverage accessible, responsive and resilient.

"Insurance impacts every person and organization across Hawaii, whether through natural disasters, property, healthcare, or transportation, " he said. "Residents deserve an insurance framework that will protect their lives and livelihoods."

The state Insurance Division ensures that consumers are provided with insurance services meeting acceptable standards of quality, equity and dependability at fair rates by establishing and enforcing appropriate service standards, according to DCCA.

The division has seven branches covering financial surveillance and examination, compliance and enforcement, rate and policy analysis, insurance fraud investigation, licensing, health insurance and captive insurance.

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