This bill, titled "Liability Insurance - Wasting Policies Prohibited," adds a new section to Chapter 27-7 of the General Laws entitled "Liability Insurance." The new section, 27-7-1.1, prohibits insurance policies from being used to pay fees or costs to defend a claim. It requires that every policy written to insure against liability for property damage or personal injuries, or both, and every policy written to indemnify any person by reason of that liability, state a policy limit that is available in full for payment of such claims. The bill takes effect upon passage.