As used in this part, unless the context otherwise requires:

Terms Used In Tennessee Code 56-7-1802. Part definitions

  • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105

(1) (A) “Commercial risk insurance” means insurance within the scope of this part that is not “personal risk insurance,” as defined in § Code Sec. 56-5-302″>56-5-302, and subject to the exclusions set out in § 56-5-301; and

(B) “Commercial risk insurance” does not include fidelity and surety bonds, or insurance written by a surplus lines insurer; and

(2) “Nonpayment of premium” means failure of the named insured to discharge when due any of its obligations in connection with the payment of premiums on a policy of commercial risk insurance or any installment of the premium, whether the premium is payable directly to the insurer or its agents or indirectly under any premium finance plan or extension of credit.

[Acts 1986, ch. 656, § 2; 1987, ch. 274, § 1; 1991, ch. 102, § 1.]