(a) All obligations for unearned premium claims shall include only that amount of each covered claim that is in excess of two hundred fifty dollars ($250) and is less than ten thousand dollars ($10,000).

Terms Used In Tennessee Code 56-12-120

  • Covered claim: means an unpaid claim, including one for unearned premiums, submitted by a claimant, which arises out of and is within the coverage and is subject to the applicable limits of an insurance policy to which this part applies and was issued by an insurer that is insolvent, if the insurer becomes an insolvent insurer after March 31, 1999, and:
    (i) The claimant or insured is a resident of this state when the insured event occurs. See Tennessee Code 56-12-104
(b)

(1) Unearned premium claims arising out of workers’ compensation policies shall be subject to the limitations of subsection (a).
(2) Unearned premium claims shall not include credit adjustments developed under retrospective rating plans.
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