General Laws of Massachusetts - Chapter 175 Insurance - Section 95 Fire insurance policy of amount exceeding fair value of property or for term of longer than seven years prohibited

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 an amount which, with any existing insurance thereon, exceeds the fair value of the property, nor for a longer term than seven years.

Section:  Previous  94H  94I  94J  94K  94L  94M  94N  95  95A  95B  96  96A  97  97A  98  Next

Last modified: September 11, 2015