1340-02-03-.09
Financial Responsibility Requirements
Cite as Tenn. Comp. R. & Regs. 1340-02-03-.09
(1)
Each Enhanced Handgun Safety School must obtain, maintain, and provide evidence of
financial responsibility as a condition of approval for certification.
(2)
Schools operated by governmental bodies or other public entities approved by the
Department to conduct Enhanced Handgun Safety Courses are exempt from the insurance
requirement if they meet the requirements under the Governmental Tort Liability provisions of
T.C.A. Title 29, Chapter 20.
(3)
All Enhanced Handgun Safety Schools may comply with the financial responsibility
requirement by providing the Department one (1) of the following:
(a)
Written proof of liability insurance coverage provided by a single limit policy with a limit
of not less than three hundred thousand ($300,000) applicable to one (1) accident;
(b)
Written proof of liability insurance provided by a split limit policy with a limit of not less
than one hundred and fifty thousand dollars ($150,000) for bodily injury to or death of
one (1) person, not less than three hundred thousand dollars ($300,000) for bodily
injury or death of two (2) or more persons in any one (1) accident and not less than fifty
thousand dollars ($50,000) for damage to property in any one (1) accident;
(c)
A deposit of cash in the amount of three hundred thousand dollars ($300,000);
(d)
The execution and filing of a bond in the amount of three hundred thousand dollars
($300,000); or
DEPARTMENT OF SAFETY APPROVED ENHANCED
CHAPTER 1340-02-03
HANDGUN SAFETY PROGRAM
(e)
The filing of a surety in an amount of not less than three hundred thousand dollars
($300,000) subject to the approval of the Director.
(4)
No policy or bond shall be effective unless it bears an issuance and expiration date, is issued
by an insurance company or surety company licensed to do business in this state and unless
such policy or bond provides security not less than the amounts specified in 1340-02-03-
.09(3).
(5)
This requirement does not preclude insurance which, by its nature, provides coverage for this
purpose as well as other general liability provisions.