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As mainland insurance companies and Gov. Josh Green square off over the state’s effort to give West Maui fire victims priority for payouts in a global settlement, gloves are coming off and details are coming out.
Green charges insurers are failing to support Maui’s recovery from the August 2023 fires by aggressively pursuing settlement money, despite companies’ multibillion-dollar profits. The receipts, via Hawaii’s Insurance Division: Insurance companies took in $37.8 billion in “disaster” premiums between 2004 and 2023, realizing net income (after payouts) of $23.6 billion. That’s not all profit — operating expenses need to be deducted — but still, a pretty penny.