Chapter 175

Section 94H. There shall be maintained at all times in the hands of the attorney in fact, or trustees duly authorized for that purpose, assets in cash or securities equal to all outstanding claims and liabilities, including a reserve liability on contracts in force, that is premi…

Section 94I. A reciprocal insurance exchange shall not be required to make any annual report, except as provided in this section. Every reciprocal insurance exchange shall file annually, on or before March first, or sixty days from such date authorized by the commissioner, with t…

Section 94J. Contracts of reciprocal or inter-insurance and the exchanging thereof and exchanges, attorneys in fact and other representatives of the subscribers shall be subject to the provisions of this chapter unless said provisions and their context clearly show that said prov…

Section 94K. An advisory committee or other similar committee or board, composed of not less than three subscribers, shall be elected or appointed by each exchange in the manner provided by the power of attorney, which committee or board shall have the authority and duties provid…

Section 94L. A true copy of the power of attorney executed by any subscriber shall be furnished him by the attorney in fact at the time of the signing thereof.

Section 94M. All unused or unabsorbed portions of premium deposits at exchanges returned or credited to subscribers shall be subject to all provisions of this chapter and chapter one hundred and fifty-two relating to the payment of dividends by mutual companies including therein …

Section 94N. Upon compliance with the requirements and completion of the proceedings prescribed by this section, a domestic exchange may convert into a domestic mutual insurance company or may merge with a domestic mutual insurance company and the consideration to be provided in …

Section 95. No company, and no officer or agent thereof, and no insurance broker shall knowingly issue, negotiate, continue or renew or cause or permit to be issued, negotiated, continued or renewed any fire insurance policy upon property or interests within the commonwealth of a…

Section 95A. No company, and no officer or agent thereof, and no insurance broker shall require an owner of residential property occupied by the insured to continue or renew a fire insurance policy on said property which exceeds the amount of the outstanding mortgage thereon.

Section 95B. No company, and no officer or agent thereof, and no insurance broker, shall cancel, refuse to issue or renew, or in any way make or permit any distinction or discrimination in the amount or payment of premiums or rates charged, in the length of coverage, or in any ot…

Section 96. If buildings within the commonwealth insured against loss by fire are totally destroyed by fire, the company shall not be liable beyond the actual value of the insured property at the time of the loss or damage; and if it shall appear that the insured has paid premium…

Section 96A. Neither insurance authorized under the provisions of clause seventeenth of section forty-seven nor insurance against loss of use or occupancy shall be subject to the limitations as to value contained in sections ninety-five, ninety-six, ninety-nine, one hundred and t…

Section 97. If, by the terms of a fire insurance policy insuring a mortgagor, the whole or any part of the loss thereon is payable to mortgagees of the property, the company shall, upon satisfactory proof of the rights and title of the parties, in accordance with such terms, pay …

Section 97A. Notwithstanding any provision to the contrary of any general or special law, every company shall, before paying any claim for loss or damage to real property from any hazard, where the amount of the loss payable under the policy equals or exceeds five thousand dollar…

Section 98. Every applicant for insurance against loss or damage to a building by fire shall complete a form to be prescribed by the commissioner. The application form may vary according to the type of coverage sought. It shall require from the applicant sufficient information re…

Section 99. No company shall issue policies or contracts which, under the authority of clause First of section forty-seven, insure against loss or damage by fire or by fire and lightning to property or interests in the commonwealth, other than those of the standard forms herein s…

Section 99A. Insurers issuing the standard policy pursuant to section ninety-nine are authorized to affix thereto or include therein a written statement that the policy does not cover loss or damage caused by nuclear reaction or nuclear radiation or radioactive contamination, all…

Section 99B. The commissioner may approve for use within the commonwealth any form of policy for property insurance which is issued to insure a business, professional or governmental operation, and which does not correspond to the standard fire insurance policy as set forth in se…

Section 99C. There shall be established a separate classification for sailmaker shops for companies issuing policies or contracts which insure against loss or damage by fire or by fire and lightning to property or interests in the commonwealth.

Section 9A. (1) In addition to the reserve liability of life insurance companies computed in accordance with the requirements of section nine, the commissioner shall each year compute or cause to be computed for each domestic life insurance company, except as provided in subdivis…

Section 9B. (A) Every life insurance company doing business in the commonwealth shall annually submit the opinion of a qualified actuary as to whether the reserves and related actuarial items held in support of the policies and contracts specified by the commission by regulation …