If the company, its designee or agent, fails to place a reasonable value on any insured property within the ninety-day period provided in § 56-7-801, and that is agreed to by the insured, and a loss occurs, then the value as shown by the policy or application is conclusively presumed to be reasonable, and settlement shall be made on that basis.
Tenn. Code Ann. § 56-7-803
Measure of damages in case of agent's failure to inspect property
Known as the Tennessee Insurance Law
The act spans §§ 56–56 (1,220 sections).
Acts 1927, ch. 72, § 2; mod
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.