ICE SYSTEMS, INC.


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Friday, November 06, 2015 7:25 PM Auditor Attacks Use of Hawaii Hurricane Relief Fund

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Thursday, August 20, 2015 8:49 PM Hawaii's DTRIC Insurance Co. Adds Cyber Risk Insurance To Its Offerings

Auditor Attacks Use of Hawaii Hurricane Relief Fund

Friday, November 06, 2015

The state auditor has attacked the use of the Hawaii Hurricane Relief fund's money and said it was not used for its “established purpose,” in its review of funds released on Wednesday.

“In our review we noted funds of approximately $166 million were used in FY2012 from the Hawaii Hurricane Relief fund that did not serve the purpose for which the trust fund was originally established,” the auditor said in its review.

The purpose of the fund is to monitor the availability of property insurance in the state and make sure insurance is ready and waiting when needed.

However, about $111 million of the fund was used to balance the state’s budget. In particular, the funds were used to maintain programs for education, public health and public welfare. The remaining $55 was used to restore instructional days to meet educational needs of Hawaii’s children.

The fund was established in 1993 for the event that the private insurance market did not make policies available to consumers.

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