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Tennessee Code Title 62. Professions, Businesses and Trades § 62-32-315

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) No certification shall be issued under this part unless the applicant files with the commissioner as evidence of insurance a policy of liability insurance providing for the following minimum coverage:

(1) One hundred thousand dollars ($100,000) because of bodily injury or death of one (1) person as a result of the negligent act or acts of the principal insured or the principal insured's agents, operating in the course and scope of the agents' employment;

(2) Subject to the limit for one (1) person, three hundred thousand dollars ($300,000) because of bodily injury or death of two (2) or more persons as the result of the negligent act or acts of the principal insured or the principal insured's agent operating in the course and scope of the agent's agency; and

(3) One hundred thousand dollars ($100,000) because of injury to or destruction of property in the course and scope of the agent's agency.

(b) Every certified company shall provide proof of insurance to the commissioner upon request from the commissioner. Failure to provide proof of insurance shall be grounds for suspension or revocation of a certified company's certification.

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Cite this article: FindLaw.com - Tennessee Code Title 62. Professions, Businesses and Trades § 62-32-315 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-62-professions-businesses-and-trades/tn-code-sect-62-32-315/

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