EFIN 516
General Insurance
Spring (2024)
Rising from the Ashes: A Case Study on Fire Insurance and Resilience for
Hawaiian Electric Industries during Maui Wildfires.
Abstract:
This case delves into the challenges faced by Hawaiian Electric Industries
(HEI), a critical energy provider in Hawaii, amidst the Maui wildfires of 2023.
The study explores how HEI strategically approached fire insurance and
implemented robust risk management measures to minimize financial losses,
protect crucial infrastructure, and ensure the continuous supply of electricity
during a natural disaster.
Introduction:
Hawaiian Electric Industries, encompassing Hawaiian Electric Company, Maui
Electric Company, and Hawaii Electric Light Company, found itself at the
forefront of challenges during the Maui wildfires of 2023. This case study aims
to shed light on HEI’s resilience and preparedness, emphasizing the strategic
role of fire insurance and risk management in safeguarding essential
infrastructure.
Objectives:
• Examine the impact of the Maui wildfires on Hawaiian Electric
Industries’ power generation and distribution assets.
• Analyze the specific components of HEI’s fire insurance policy designed
to mitigate financial losses and protect infrastructure.
• Explore the risk management measures implemented by HEI to ensure
the continuous and reliable supply of electricity.
• Evaluate the effectiveness of HEI’s response in terms of financial stability
and community support during the wildfire crisis.
Outcomes:
Through the lens of Hawaiian Electric Industries’ experience, this case study
aims to provide insights into the critical role of fire insurance and proactive risk
management in ensuring resilience for essential infrastructure providers during
natural disasters. HEI’s ability to rise from the ashes serves as a valuable
example for utility companies facing similar challenges, showcasing the
importance of preparedness and strategic decision-making in times of crisis.
Requirements:
Students are expected to work in groups to prepare a presentation addressing the
objectives of the case study. (Note: Students should provide audience with
background information regarding the event of Maui Wildfires- time line,
causes, and impacts on society and economy),
Supplemented materials:
• https://www.washingtonpost.com/climateenvironment/2023/10/04/hawaiian-electric-insurance-wildfire/
• https://drive.google.com/file/d/1sGF5ozi8Lktx_v215R047jiS3un9ccV/view?pli=1
• https://d18rn0p25nwr6d.cloudfront.net/CIK-0000354707/e36f107d-9f064867-9d35-25dab6f22e54.pdf
• https://d18rn0p25nwr6d.cloudfront.net/CIK-0000354707/282934c39124-40fb-b5d0-692e659fde30.pdf
• https://d18rn0p25nwr6d.cloudfront.net/CIK-0000354707/4d897082d8f6-4ccd-806b-640882c3c2e1.pdf
Your presentation will be evaluated using the grading criteria detailed below:
10 = Meets standards for
competence5= Needs
improvement
0 = Does not meet minimum standards
Thesis: Main idea is clearly presented.
Supporting Details: Main idea is fully developed with
appropriatesupport
(facts, examples, analysis, etc).
Focus: Paper contains a single focus/major point of
discussion anddoes not
wander or give unnecessary or extraneous details.
Coherence: Logical progression of ideas using
transitions and keywords.
Mechanics: Correct use of spelling, grammar,
punctuation,capitalization,
word choice, and sentence structure.
Style: Awareness of audience, appropriate language, originality of ideas
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