TN Insurance Bulletin (2004-07-19): Punitive, Exemplary & Multiplied Damage Exclusions

STATE OF TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE 500 JAMES ROBERTSON PARKWAY NASHVILLE, TENNESSEE 37243-5065 615-741-6007 PHIL BREDESEN GOVERNOR PAULA A. FLOWERS COMMISSIONER ## BULLETIN TO: All Property and Casualty Insurance Companies FR: Paula A. Flowers, Commissioner Department of Commerce and Insurance RE: Punitive, Exemplary and Multiplied Damage Exclusions DA: July 19, 2004 The Department previously issued a bulletin dated September 1, 1988 regarding the disallowance of punitive damage exclusions in property and casualty insurance policy forms other than those relative to pollution liability coverage and those relative to uninsured motorist coverage. Notice is hereby given that the Department will, effective immediately, no longer be relying upon the above referenced bulletin or any other position previously expressed by the Department to disallow such policy provisions. In accordance with current law, no property or casualty policy form hereafter filed with the Department shall be disapproved because it contains a provision excluding coverage for damages that are punitive, exemplary and/or multiplied or because it contains a provision limiting coverage to compensatory damages. Any questions concerning the position set forth in this bulletin, or the application thereof, may be directed to the Tennessee Insurance Division at 615-741-2241.