Tenn. Senate OKs Insurer Treble Damages Exemption

Law360, New York (April 12, 2011, 2:53 PM EDT) -- The Tennessee Senate passed a law Monday that would exempt insurance policies from the Tennessee Consumer Protection Act, which allows the victims of unfair and deceptive conduct to seek treble damages and attorneys' fees.

State Sen. Jamie Woodson, R-Knoxville, who sponsored the bill in the Senate, said that insurance contracts and policies are already regulated by insurance law. Nothing in the new law would eliminate common law remedies or sanctions, Woodson said, and insurers can still face punitive damages equal to 25 percent of a claim...
To view the full article, register now.