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Tennessee Issues Certificates Bulletin

The Tennessee Department of Insurance, led by Commissioner Julie Mix McPeak, issued a bulletin on March 21 that clarifies certificates of insurance must be consistent with and conform to the terms of the underlying policy
April 10, 2012

The Tennessee Department of Insurance, led by Commissioner Julie Mix McPeak, issued a bulletin on March 21 that clarifies certificates of insurance must be consistent with and conform to the terms of the underlying policy. The bulletin puts everyone on notice that improper modification or fabrication of a certificate of insurance will be treated as an unfair trade practice. PIA has been seeing an increase in demands for certificates that do not accurately reflect the underlying policy terms and we are working with legislators, regulators and other interested parties in order to clear up any misconceptions surrounding certificates of insurance. The National Conference of Insurance Legislators (NCOIL) is considering a model law governing the use of certificates. NCOIL’s Property and Casualty Committee, led by Chairman Steve Riggs (KY), will further discuss this issue during their summer meeting in Burlington, Vermont July 12-15. PIA supports the model and we encourage all state legislators who serve on insurance committees to attend the NCOIL meetings.

Read the bulletin on Tennessee certificates: TN DOI Bulletin on Certs (Issued 3/21/12)