First Insurance Co. of Hawaii Lowers First Select Homeowners Rates 8.5%

First Insurance Company of Hawaii has lowered the homeowners insurance rates in its First Select Portfolio — a package policy that combines homeowners, personal auto and personal umbrella insurance — by an average of 8.5 percent. The new lower rates were effective Aug. 1, 2008, for new customers, and will be effective Sept. 1, 2008, for renewals.

“Due to a decrease in homeowners insurance claims in our First Select Portfolio, we were able to lower our rates for our customers,” said Tony Abad, vice president.

The First Select Portfolio was designed specifically for Hawaii homeowners so is designed to offer better coverage than traditional homeowners policies.

First Insurance Company of Hawaii Ltd. is the oldest and largest property and casualty insurer domiciled in Hawaii, and is jointly owned by CNA Financial Corp. and Tokio Marine & Nichido Fire Insurance Co. Ltd.