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SENATE DOCKET, NO. 13         FILED ON: 1/9/2013

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 464

 

The Commonwealth of Massachusetts

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PRESENTED BY:

Michael O. Moore

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
              Court assembled:

              The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to special insurance brokers.

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PETITION OF:

 

Name:

District/Address:

Michael O. Moore

Second Worcester

Michael J. Rodrigues

First Bristol and Plymouth


SENATE DOCKET, NO. 13        FILED ON: 1/9/2013

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 464

By Mr. Michael O. Moore, a petition (accompanied by bill, Senate, No. 464) of Michael O. Moore and Michael J. Rodrigues for legislation relative to special insurance brokers and continuous affidavits.  Financial Services. 


The Commonwealth of Massachusetts
 

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In the Year Two Thousand Thirteen

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An Act relative to special insurance brokers.
 

              Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

              SECTION 1. Section 168 of chapter 175 of the General Laws, as so appearing in the 2010 Official Edition, is hereby amended by striking out, in lines 29 and 30, the sentence “Said affidavit shall have force and effect for one year only from the date thereof or expiration of policy, whichever comes later” and inserting in place thereof the following sentence:- For any insurance policy renewed, continued or extended by the same insurance company, no affidavit shall be required to be completed for any insurance or coverage under an insurance policy procured by a special insurance broker for which said special insurance broker has previously completed an affidavit; provided, however, prior to renewing, continuing or extending any insurance policy, the special insurance broker must confirm that the insurer is on the Division of Insurance’s list of approved surplus lines insurance companies.  Said affidavit shall remain on file with the special insurance broker and shall be available to the Division of Insurance for examination or audit at all reasonable times.

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