Insurance claims top $3.29B from Maui wildfires

HONOLULU — A breakdown of insurance data for the Maui wildfires shows more than 10,033 claims representing an estimated $3.29 billion-plus in losses.

Some $2.34 billion of the claims, or over 71 percent, were paid as of June 30, according to data released on Monday by the state Insurance Division. As many as 3,782 of the claims were reported as total losses.

The data, which shows the depth of the losses and needs following the disaster, was gathered from more than 200 property and casualty insurers and nontraditional carriers doing business in Hawai'i that responded to a call for data from the department.

State Insurance Commissioner Gordon I. Ito said in a statement, "Behind every claim is a person, a family member, a homeowner, or a business owner. The loss we suffered as a state is unimaginable, but the Hawai'i Insurance Division has been and will continue to support the people of Maui as they begin rebuilding."

According to preliminary breakdowns, the Aug. 8 wildfires resulted in 5,239 residential property claims, of which 1,702 were total losses. The claims are estimated at more than $1.63 billion in total losses, of which $1.36 million was paid as of June 30.

The majority of the residential claims, some $1.28 billion, were for homeowner's insurance — which saw 2,816 claims, 975 of them a total loss. More than $1.04 billion has been paid in homeowner's insurance claims.

There are an estimated $270 million in dwelling-fire landlord insurance claims, of which $245 million has been paid. There were 700 dwelling-fire landlord claims, of which 352 were total losses.

Insurance claims for condominium units are estimated at $70 million- plus, of which $60.6 million has been paid. There were 1,331 condominium unit claims, of which 274 were total-loss claims.

There were 385 renter's insurance claims, of which 1o1 were total losses. These claims are estimated at $9.9 million, with $9.65 million paid.

Some seven claims for other residential property are estimated to total $1.23 million of which $759,000 has been paid.

The Maui wildfires also resulted in 2,610 personal motor vehicle claims, of which 1,781 were total-loss claims. Estimated total losses for personal motor vehicles were more than $31.2 million, and more than $30.9 million had been paid as of June 30.

There were 1,160 commercial property claims, of which 229 were total-loss claims. Estimated total losses for commercial property were more than $1.19 billion, and more than $702 million had been paid as of June 30.

There were 316 claims for business interruption, estimated at more than $147.9 million, of which $74.8 million had been paid as of June 30.

Commercial auto claims were at 146, of which 70 were total losses. More than $3.3 million had been paid out of more than $3.43 million in estimated total losses as of June 30.

There were 562 other property coverage claims, and by June 30 some $164.6 million of an estimated $276 million-plus had been paid.

State insurance departments typically collect data after a disaster or catastrophic event. The data is used to determine the number of claims and insured losses, monitor the solvency of domestic insurers and improve the overall experience of policyholders.

The Hawai'i Insurance Division also is warning policyholders, who are hiring contractors, about avoiding potential scams involving unlicensed contractors. The division said licensed contractors are required for projects exceeding $1,500 for labor and materials or those that require permits. To learn more, visit licensedcontractor.hawaii.gov.

To verify the license status of a contractor, the division recommends visiting businesscheck. hawaii.gov. The online platform also allows users to discover when a business was started and to review complaint histories.

The division also reminds policyholders to do their due diligence before entering a contract for assistance and understand what the costs may be. For more information, contact the division toll-free from Maui at 808-984-2400, ext. 6-2790.

For insurance resources and more information on navigating the insurance claims process, visit cca.hawaii.gov/fireclaims.