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Hawaii lawmakers vow to stabilize property insurance market as climate change fuels higher premiums

ABC News
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Hawaii lawmakers vow to try to stabilize the state's property insurance market.

Hurricanes in Florida and North Carolina and wildfires in California affect the insurance business in Hawaii .

Insurance companies buy reinsurance — insurance for themselves — on the global market.

As reinsurance rates rise, some insurers want to charge more in Hawaii or stop providing insurance in the islands.