Amendment ID: S2381-13

Amendment 13

Insurance Requirements

Ms. Lovely moves to amend the amendment by adding the following new section:-

SECTION XX. Hosting platforms that execute the financial transaction between operators and occupants shall maintain liability insurance of not less than $1,000,000 to cover each residential unit offered for short-term rental. Such coverage shall defend and indemnify the host and any tenants and owners in the building for bodily injury and property damage arising from the short-term rental.

Hosting platforms shall provide notice to all potential operators that standard homeowners or renters insurance may not cover damage or injury to a third-party related to short-term rentals.

Operators shall be required to provide notice to all insurers of the operator’s intention to use the residential unit as a short-term rental.

Any policy and policy forms intended to cover operators from liability exposures associated with short-term rentals, whether they are being provided by the hosting platforms or the operators themselves, shall be placed on file with the Massachusetts Division of Insurance.