(a) No certification shall be issued under this part unless the applicant files with the commissioner as evidence of insurance a policy of liability insurance providing for the following minimum coverage:
Terms Used In Tennessee Code 62-32-315
Certification: means the authority granted by the commissioner to do business as an alarm systems contractor. See Tennessee Code 62-32-303
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
(1) One hundred thousand dollars ($100,000) because of bodily injury or death of one (1) person as a result of the negligent act or acts of the principal insured or the principal insured’s agents, operating in the course and scope of the agents’ employment;(2) Subject to the limit for one (1) person, three hundred thousand dollars ($300,000) because of bodily injury or death of two (2) or more persons as the result of the negligent act or acts of the principal insured or the principal insured’s agent operating in the course and scope of the agent’s agency; and(3) One hundred thousand dollars ($100,000) because of injury to or destruction of property in the course and scope of the agent’s agency.(b) Every certified company shall provide proof of insurance to the commissioner upon request from the commissioner. Failure to provide proof of insurance shall be grounds for suspension or revocation of a certified company’s certification.
