Amendment ID: S2821-1

Amendment 1

Insurance Coverage Costs and Exclusion

Ms. Gobi moves that the proposed new draft be amended in section 1, by striking out the second sentence of paragraph (3) of subsection (b), and inserting in place thereof the following:

"Insurers may include a reasonable charge for such coverage in premiums applicable to all homeowners' insurance policies";

and by striking out subsection (c) and inserting in place thereof the following:

"(c) Notwithstanding subsection (b), the joint underwriting association and an insurer may include an exclusion in homeowners’ insurance policies from the coverages required pursuant to subsection (b) where the heating oil release would not have occurred but for the owner’s failure to comply with the requirements of subsection (b) or subsection (c) of section 38J of chapter 148 or any regulations promulgated pursuant to subsection (b) or subsection (c) of said section 38J of said chapter 148; provided, however, that the joint underwriting association or insurer has provided an annual written notice to the insured that explains, in at least 16-point type, such requirements under chapter 148 and any regulations promulgated thereto on a separate form approved by the division of insurance.";

and by striking the language in SECTION 2, in its entirety, and inserting in place thereof the following new language:

"This act shall apply to policies issued or renewed on or after January 1, 2023."