Massachusetts Statutes

Section 22I. Any insurance company, broker or agent may retain an amount equal to any unpaid premium due on the policy under which a claim is being presented, when settling any such claim for an insured; provided, however, that the unpaid premium remains unpaid sixty days after t…

Section 23. No life company whose actual funds, exclusive of its capital, are not of a net cash value equal to its liabilities, including the net value of its policies, computed by the rules of valuation established by sections nine and eleven, shall issue new policies of life or…

Section 230. Notwithstanding any general or special law to the contrary, chapter 176W shall apply to insurers governed by this chapter.

Section 23A. Every stock company, every foreign company described in section one hundred and fifty-five and every mutual company having a guaranty capital or guaranty fund, other than a life company, shall forthwith notify the commissioner in writing in such form and detail as he…

Section 24. Any life company, whether or not it is authorized to transact accident and health insurance under clause sixth of section forty-seven, may provide in its policies of life, group life or endowment insurance, issued in compliance with this chapter, for the payment of an…

Section 24A. No company authorized to issue policies of accident or sickness insurance, policies providing coverage against disability from injury or disease, or policies of life or endowment insurance shall refuse to issue such a policy or limit the coverages normally contained …

Section 24B. The commissioner shall require that a policy, contract, agreement, plan or certificate of insurance for coverage of health care services, including any self-insured sickness, health or welfare plan issued within or without the commonwealth and including, but not limi…

Section 24D. (a) Prior to making any nonrecurring payment equal to or in excess of $500 to a claimant under a contract of insurance, every company authorized to issue policies of insurance pursuant to this chapter shall exchange information with the IV–D agency, as set forth in c…

Section 24E. (a) Notwithstanding the provisions of any general or special law or rule or regulation to the contrary, prior to making any nonrecurring payment equal to or in excess of $500 to a claimant under a contract of insurance, every company authorized to issue policies of i…

Section 24F. (a) Subject to the requirements of sections 24D and 24E, which shall take precedence over this section, before making any nonrecurring payment equal to or in excess of $500 to a claimant under a contract of insurance, every company authorized to issue policies of ins…

Section 25. Every company shall annually, on or before March first or sixty days from such date authorized by the commissioner, file with the commissioner a statement showing its financial condition on December thirty-first of the previous year or such other date as the commissio…

Section 25A. The commissioner of insurance shall provide by regulation for an annual report to be filed by each insurer writing workers' compensation insurance in the commonwealth. Such regulations shall require the reporting of litigation expenses incurred by insurers, including…

Section 26. A company neglecting to make and file its annual statement or the materials required by the commissioner to be filed with the National Association of Insurance Commissioners under the provisions of section twenty-five in the form and within the time provided by the pr…

Section 27. Every company shall include in its annual statement under section twenty-five a schedule of all claims under policies issued by it to persons in the commonwealth which, during the year covered by the statement, have been made the subject of suits and also of those whi…

Section 28. If, upon inspection of a schedule specified in the preceding section or upon any examination or investigation under section four, the commissioner is satisfied that a company is making a practice of unduly engaging in litigation or of unreasonably and unfairly delayin…

Section 29. All companies now or hereafter incorporated or formed by authority of any general or special law of the commonwealth shall, except as provided in section one hundred and fourteen and in chapter one hundred and seventy-six, be subject to this chapter. Trade unions and …

Section 2A. Contracts of reinsurance shall be deemed contracts of insurance as defined in section two, and authority to make contracts of insurance shall include authority to make contracts of reinsurance covering the same classes of risks, but the hazards under such contracts sh…

Section 2B. 1. No policy form of insurance shall be delivered or issued for delivery to more than fifty policyholders in the commonwealth until a copy of the policy form has been on file for thirty days with the commissioner, unless before the expiration of said thirty days the c…

Section 3. No company shall make a contract of insurance or annuity, including any such insurance or annuity contract which is a contract on a variable basis, upon or relative to any property or interests or lives in the commonwealth, or with any resident thereof, and no person s…

Section 30. (a) So far as pertinent and not in conflict with express provisions of this chapter, with other provisions of law relative to such companies or with their charters: (1) The general principles of law relative to the powers, duties and liabilities of corporations shall …

Section 31. Domestic companies incorporated by special acts, whose charters are subject to a limitation of time, shall, after such limitation expires, continue to be bodies corporate, subject to all general laws applicable to such companies.

Section 31A. Domestic companies incorporated by special acts, whose charters grant authority to transact insurance within a limited or defined territory, may, notwithstanding such limitations, transact insurance anywhere outside the limits specified in the charter, subject to all…

Section 32. No domestic company shall make or issue any contracts or policies of insurance or annuity or pure endowment contracts until it has obtained from the commissioner a certificate, in such form as he may prescribe, stating that the company has complied with the conditions…

Section 33. All such policies or contracts issued by such company shall be signed by its secretary or an assistant secretary, or in their absence by a temporary secretary, and by its president or a vice-president, or in their absence by two directors. Riders or endorsements, othe…

Section 34. The directors of such company may at any time, and from time to time, change the home office of the company; provided, that no such change shall be effective until a certificate of such change specifying the post office address of its new home office, signed under the…

Section 35. No domestic company shall pay any salary or compensation to its five most highly compensated officers, trustees or directors or to any additional officers, trustees or directors whose salary or compensation exceeds $150,000, unless such payment is first authorized by …

Section 36. Any domestic company, when authorized so to do by a vote in each case of not less than a majority of its directors, at a meeting called for the purpose, recorded in the minutes of the board, may grant a pension to any employee who has been in the service of the compan…

Section 36A. Any domestic life company or any domestic company transacting business solely under subdivisions (a) and (d) of clause sixth of section forty-seven may establish a plan for retirement or insurance benefits, or both, for agents, or any class or classes thereof as the …

Section 36B. Any domestic company which is authorized to transact business under subdivisions (a) and (d) of clause Sixth of section forty-seven may establish a plan to provide such insurance benefits for its employees. Any such plan may provide for contributions by the employees…

Section 37. No domestic company shall make any disbursements of twenty-five dollars or more, except disbursements on account of return premiums on cancelled policies, unless the same be evidenced by a voucher signed by or on behalf of the person receiving the money and correctly …

Section 37A. (a) Every domestic company may, by vote of its directors, contribute such sum or sums of money as said directors may determine to be reasonable to any fund being raised by a relief committee or agency approved by the commissioner of public welfare, as evidenced by a …

Section 3A. The commissioner shall administer and enforce the provisions of this chapter, chapter one hundred and fifty-six B insofar as made applicable under this chapter, except section eleven of said chapter one hundred and fifty-six B, chapter one hundred and seventy-six. If …

Section 3B. The attorney general may, at the request of the commissioner, maintain and prosecute, in the name of the commonwealth, an action against any insurer, its officers, directors, trustees or agents or against any broker or adjuster or against any other person or persons s…

Section 3C. The commissioner shall promulgate regulations, subject to the approval of the commissioner of medical assistance, defining ''qualified medical insurance'', ''qualified individual medical insurance'', ''qualified two-person family medical insurance'', and ''qualified f…

Section 4. (1) Before granting licenses or certificates of authority to a company to issue policies of insurance or annuity or pure endowment contracts, the commissioner shall be satisfied, by such examination as the commissioner may make and such evidence as the commissioner may…

Section 44. If any domestic company shall not commence to issue policies within one year after the date of its charter or of its certificate of organization, or if after it has commenced to issue policies it shall cease for the period of one year to make new insurance, its corpor…

Section 45. No domestic company shall establish an agency or appoint an agent or other person to solicit, negotiate, continue or renew contracts of insurance on lives, property or interests in, or annuity or pure endowment contracts with residents of, a state, district or territo…

Section 46. When any domestic company becomes insolvent, or is unable to pay in full its liabilities as set forth in sections ten, eleven and twelve, claims for unpaid losses under its policies, other than life or endowment policies or annuity or pure endowment contracts, shall, …

Section 46A. Except as otherwise provided in section 180F, when any domestic company which has insured the payment of the compensation provided for by chapter one hundred and fifty-two becomes insolvent, or is unable to pay in full its liabilities as set forth in sections ten and…

Section 46B. Every domestic company incorporated after September first, nineteen hundred and twenty-three, shall, within thirty days after its incorporation, file with the commissioner a copy of its by-laws and amendments thereto, if any, certified under its corporate seal by its…

Section 47. Companies may be incorporated under and subject to the provisions of this chapter for the following purposes:— First, To insure against loss or damage to property by fire, smoke, smudge, lightning and other electrical disturbances, collision, collapse, fall, wind, tor…

Section 47A. A domestic insurance company may, notwithstanding any limitation otherwise applicable, and provided it maintains books and records which account for such business, engage directly in any of the following businesses: (a) rendering investment advice; (b) rendering serv…

Section 47AA. (a) As used in this section the following words shall, unless the context clearly requires otherwise, have the following meanings:— ''Actuary'', a person who is a member of American Academy of Actuaries and meets the academy's professional qualification standards fo…

Section 47AAA. (a) A policy, contract, agreement, plan or certificate of insurance issued, delivered or renewed within the commonwealth, which is considered creditable coverage under section 1 of chapter 111M, shall provide coverage for prescribed, ordered or dispensed opioid ant…

Section 47B. (a) An individual policy of accident and sickness insurance issued pursuant to section 108, which provides hospital expense and surgical expense insurance, and a group blanket or general policy of accident and sickness insurance issued pursuant to section 110, which …