Sec. 1. 24-A MRSA §3048, sub-§§1, 2 and 3, as enacted by PL 1973, c. 239, are repealed and the following enacted in their place:

1.__Real property.__Loss of or damage to real property;

2.__Personal property.__Loss of or damage to personal property; and

3.__Injury to persons or property.__Legal liability for loss of, damage to or injury to persons or property.

Sec. 2. 24-A MRSA §3051, 2nd ¶, as amended by PL 2003, c. 671, Pt. A, §8, is further amended to read:

The reason or reasons for the intended nonrenewal action must accompany the notice of intent not to renew and the reason or reasons must be explicit. Explanations such as "underwriting reasons," "underwriting experience," "loss record," "location of risk," "credit report" and similar insurance terms are not by themselves acceptable explanations of an insurer's intended nonrenewal of a policy insuring property of the kind defined in section 3048. If the intended nonrenewal is based in whole or in part on the reason that repairs are necessary to maintain the insurability of the property, then the policy may be nonrenewed in accordance with this subchapter only if prior to issuing the notice of intent not to renew the insurer has provided the insured with a detailed written explanation of the necessary repairs, the insurer has permitted a minimum of 4 months for the insured to complete the repairs and the insured has failed to complete the repairs. The reason for nonrenewal must be a good faith reason and related to the insurability of the property or a ground for cancellation pursuant to section 3049.

Sec. 3. 24-A MRSA §3060 is enacted to read:

§3060.__Coinsurance clauses in policies

If an insurance policy subject to this subchapter includes a coinsurance clause that relates to the amount of coverage provided for the value of equipment or property covered under the policy in the event of a loss or claim, the insurer shall make written disclosure to the policyholder clearly explaining the coinsurance clause and indicating which types of coverage available under the policy are subject to the coinsurance clause.__ The insurer must include in the explanation a numeric example illustrating the operation of the coinsurance clause.__The disclosure must be signed by the policyholder at the time a policy is issued.