If you’re a reader of insurance blogs, I’m certain you’ve read the recent warfare between Parks Chastain and Chip Merlin. They both make good points on the issue of advance payments (see their posts here and here). The truth is that there really is very little law in Tennessee concerning advance payments. Even so
Unfair Claims Settlement Practices Act
What is Bad Faith and When Should the Bad Faith Penalty Be Awarded?
By Brandon McWherter on
Posted in Bad Faith
In a post several days ago, the co-author of this blog, Parks Chastain, commented that Tennessee’s statutory bad faith penalty should rarely be awarded against an insurer. In reaching this conclusion, he noted a 1961 federal district court case that stated that the the bad faith penalty should not be awarded unless the insurer’s conduct…
Utilizing the Unfair Claims Settlement Practices Act
By Brandon McWherter on
Posted in Bad Faith
The Tennessee legislature has listed certain certain practices which constitute unfair acts or practices in the business of insurance. See T.C.A. § 56-8-105. The statute, known as the Unfair Claims Settlement Practices Act, creates standards and rules by which insurance companies must abide when settling claims. For example, the Unfair Claims Settlement Practices Act…