By Mr. Fresolo of Worcester, petition (accompanied by bill, House, No. 950) of John P. Fresolo and others relative to premiums for homeowners insurance.  Financial Services.

The Commonwealth of Massachusetts

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PETITION OF:

John P. Fresolo

Robert P. Spellane

Edward M. Augustus, Jr.

Harriette L. Chandler

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In the Year Two Thousand and Seven.

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An Act relative to homeowners insurance.

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

Chapter 175 of the General Laws is hereby amended by inserting after section 24D the following section:-

Section 24E.  In establishing premiums for policies authorized by clause first of section 47 based on replacement value insurer shall base such premium on no more than fifty percent of the replacement value for the multi-dwelling residential property.