ÿWPCL) ^Ó5õ4’'ÝT4tn@´ …l”ÖþAôe£Ec\1]²•×g ‹Å1 Q¥ý9Ç{ºðÈêSöô“l¦/N´:miÐ]·õàêèZœJ[\Ø Ý—N\%›ï§š7µY±Y!Ú{³CUŠ̹ÅÀ͵‹&u~ÐTŸI9Œ)ÞµÃ3QRwªP LìNFEüÐ÷¨Íýˆ1g6@À] šøÚâ/¯(ü;¡05|Ϩ§Š?#ÇÚ‹{ý^˜\ªfË(š¿8žl õa´ÿ¿š±ól·¶ à1# ®UN¹ % 0o w@|4¼Ðöß 0 ³Õ 0 Dˆ ˆÌ çTU=F;§G(UFo AQµU: ÿEU:D¡~U2Feee‰mmœö$ B’&Ư& 0Du' 0D¹' 0Dý'UFA( D/‡(‡( B¶( D3Ó(Ó(Ó(Ó(Ó(Ó(Ó(U F)˜HP LaserJet 4SiHPPCL5MS,ü,,,,,ü0nLhÎ(ÈhH  Z 6Times New Roman RegularX(G9¥$¡¡Ò°ÒÒX°ÒÔ€0XS9XXXÔÓ  Ó ˜#D™#Dš#V›#Dœ#U#Ež#UŸ#U #Ó€ª#Ö…#%P 3|x®# ìÝ ƒ µÕÿÝÒ°ÒÒX°ÒÔ€0XÃrXXXÔÓ  Óà ` àòòÚ  Ú3Ú  ÚóóÝ  ÝDorsey€Barnett,€the€Metropolitan€Codes€Department€housingÐ Œ  Ðinspector€who€examined€the€property,€explained€that€an€H„6Ïstructure€is€usually€scheduled€for€demolition.€€However,€not€all€ÏH„6€structures€are€ultimately€demolished.€€The€Codes€DepartmentÏoften€lists€borderline€cases,€such€as€this€one,€as€H„6€in€order€toÏforce€the€property€owner€to€make€the€necessary€repairs€as€soon€asÏpossible.€€Should€repair€of€an€H„6€structure€be€denied,€the€ownerÏmust€first€appeal€to€the€Housing€Appeals€Board€for€a€variance.€€TheÏvariance€then€entitles€the€owner€to€obtain€a€permit€to€repair€theÏstructure.(c(3ÍÄ$¤¤Ý ƒ9¥!ÝÒ°ÒÒX°ÒÔ€0X#XXXÔÓ  ÓÝ  Ýà ` àòòÚ  Ú0Ú  Úóó(#Ã$òòÚ  Ú0Ú  Úóó ~Ý ƒ ÍÄÿÝÒ°ÒÒX°ÒÔ€0X#XXXÔÓ  Óà ` àòòÚ  Ú2Ú  ÚóóÝ  ÝTennessee€Code€Annotated€ðð€56„7„105(a)(1989)€provides:Ð Œ  ÐÌà8 ` àà ¸ à[I]nsurance€companies€.€.€.€,€in€all€cases€when€aÏloss€occurs€and€they€refuse€to€pay€the€loss€within€sixtyÏ(60)€days€after€a€demand€has€been€made€by€the€holder€ofÏthe€policy€or€fidelity€bond€on€which€the€loss€occurred,Ïshall€be€liable€to€pay€the€holder€of€the€policy€orÏfidelity€bond,€in€addition€to€the€loss€and€interestÏthereon,€a€sum€not€exceeding€twenty„five€percent€(25%)€onÏthe€liability€for€the€loss;€provided,€that€it€is€made€toÏappear€to€the€court€or€jury€trying€the€case€that€theÏrefusal€to€pay€the€loss€was€not€in€good€faith,€and€thatÏsuch€failure€to€pay€inflicted€additional€expense,€loss,Ïor€injury€upon€the€holder€of€the€policy€.€.€.€.€€€€ ÝÒ°ÒÒX°ÒÔ€ XÃrXXXÔÓ  ÓÝ ƒ µÕÿÝÒÒÒXXÒÔ€0XÃrXX XÃrÔÓ  Óà ` àòòÚ  Ú4Ú  ÚóóÝ  ÝThe€Myints€also€sued€the€Metropolitan€Government,€seeking€anÐ Œ  Ðinjunction€to€prevent€demolition€of€the€property.€€The€suit€againstÏthe€Metropolitan€Government€was€subsequently€dismissed€for€failureÏto€state€a€claim€upon€which€relief€could€be€granted.<4šÛ 9Z ‹.Courier New Regular Ý ƒ µÕÿÝÒ°ÒÒX°ÒÔ€0XÃrXXXÔÓ  Óà ` àòòÚ  Ú5Ú  ÚóóÝ  ÝWith€respect€to€the€issue€of€whether€the€Consumer€ProtectionÐ Œ  ÐAct€may€apply€to€an€insurance€companyððs€decision€to€deny€a€claim,Ïthe€following€parties€were€granted€leave€to€file€briefs€as€òòamicusÐ 8 ¬ Ðcuriaeóó:€€the€Attorney€General€of€the€State€of€Tennessee,€State€FarmÐ  ‚ ÐAutomobile€Mutual€Insurance€Company,€Tennessee€Farmers€MutualÐ ä X   ÐInsurance€Company€Association,€National€Association€of€IndependentÏInsurers,€and€the€Alliance€of€American€Insurers. =Ý ƒ ÍÄ$ÝÒ°ÒÒX°ÒÔ€0X#XXXÔÓ  Óà ` àòòÚ  Ú1Ú  ÚóóÝ  ÝÔ€X#XX0X#ÔTennessee€Code€Annotated€ðð€47„18„109€(1995)€provides€theÐ Œ  Ðremedies€for€a€violation€of€the€Consumer€Protection€Act:ÌÌÔ‡ X#XXX#Ôà8 ` àà ¸ à(a)(1)€Any€person€who€suffers€an€ascertainable€lossÐ  ‚ Ðof€money€or€property,€real,€personal,€or€mixed,€..€.€asÏa€result€of€the€use€or€employment€by€another€person€of€anÏunfair€or€deceptive€act€or€practice€declared€to€beÏunlawful€by€this€part,€may€bring€an€action€individuallyÏto€recover€actual€damages.€€Ð ` (#` (# ÐÌà ` àà ¸ à.€.€.€.ÌÌà8 ` àà ¸ à(a)(3)€If€the€court€finds€that€the€use€or€employmentÏof€the€unfair€or€deceptive€act€or€practice€was€a€willfulÏor€knowing€violation€of€this€part,€the€court€may€awardÏthree€(3)€times€the€actual€damages€sustained€and€mayÏprovide€such€other€relief€as€it€considers€necessary€andÏproper.€€€€Ô#†X#XX X#3#Ô<4šÛ 9Z ‹.Courier New Regular!"#$&Cþÿ<< Cÿÿ ûÝ ƒ"¯"ÝÝ  ÝÔ€XtCXXXÔÔ€k`XXtCÔÓ  Óò òÔ Ad ÔFILEDÔ€XtCXk`ÔÐ  ÐÌSeptember€30,€1998ÌÌCecil€W.€CrowsonÌAppellate€Court€ClerkÔdAhÔó ó,c½¬AZ‹"Arial Regular õÝ ƒ"¯"ÝÝ  ÝÔ€XtCXXXÔÔ€k`XXtCÔÓ  Óò òÔ Ad ÔFILEDÔ€XtCXk`ÔÐ  ÐÌJune€1,€1998ÌÌCecil€W.€CrowsonÌAppellate€Court€ClerkÔdAhÔó ó,c½¬AZ‹"Arial Regular —Ý ƒ µÕÿÝÒ°ÒÒX°ÒÔ€0XÃrXXXÔÓ  Óà ` àòòÚ  Ú7Ú  ÚóóÝ  ÝòòBut€seeóó€òòTextile€Workers€Unionóó,€205€Tenn.€at€402„03,€326Ð Œ  ÐS.W.2d€at€675€(where€the€employer€reasonably€and€in€good€faithÏdisputed€its€contractual€obligation€to€provide€vacation€pay€toÏcertain€employees,€there€was€no€reasonable€basis€for€allowance€ofÏinterest);€òòHoward€G.€Lewis€Construction€Co.€v.€Leeóó,€830€S.W.2d€60,Ð ä X Ð66€(Tenn.€App.€1991)€(where€the€plaintiff€requests€$25,000€inÏdamages€but€receives€only€$11,000,€there€is€too€substantial€aÏcontroversy€over€the€amount€due,€rendering€the€award€of€interest€Ïan€abuse€of€discretion).€€To€the€extent€these€cases€suggest€thatÏprejudgment€interest€can€never€be€awarded€when€a€claim€isÏreasonably€disputed,€regardless€of€any€equitable€considerations,Ïthey€are€hereby€overruled.€€€€<4šÛ 9Z ‹.Courier New Regular Ý ƒ µÕÿÝÒ°ÒÒX°ÒÔ€0XÃrXXXÔÓ  Óà ` àòòÚ  Ú8Ú  ÚóóÝ  ÝAs€a€final€matter,€Allstate€argues€that€it€had€aÐ Œ  Ðconstitutional€right€to€have€the€issue€of€prejudgment€interestÏdecided€by€a€jury,€under€Article€I,€ðð€6€of€the€TennesseeÏConstitution.€€Allstate€cites€one€unpublished€decision€for€support,Ïa€decision€which€has€already€been€implicitly€overruled€by€òòMitchellóó,Ð ä X Ð876€S.W.2d€at€832,€on€the€issue€of€pleading€requirements€forÏprejudgment€interest.€€Ô‡ XÃrXX0XÃrÔÐ  ÐÌà ` àWe€find€Allstateððs€argument€without€merit.€€As€Tenn.€Code€Ann.Ïðð€47„14„123€indicates,€prejudgment€interest€is€awarded€as€a€matterÏof€equity.€€The€right€to€a€jury€in€an€equitable€matter€is€not€theÏcommon€law€right€guaranteed€by€the€constitution.€€Rather,€the€rightÏexists€only€to€the€extent€provided€by€Tenn.€Code€Ann.€ðð€21„1„103.€ÏThis€statute€provides€a€right€to€have€ð ðany€material€fact€inÏdisputeðð€tried€by€a€jury€in€chancery,€but€it€does€not€require€thatÏthe€jury€also€decide€all€mixed€questions€of€law€and€fact.€€òòSeeóóÐ Š  ÐòòWright€v.€Quillenóó,€909€S.W.2d€804,€813„14€(Tenn.€App.€1995);€òòSasserÐ ì`  Ðv.€Averitt€Express,€Inc.óó,€839€S.W.2d€422,€434€(Tenn.€App.€1992).€Ð Â6 ÐIn€this€case,€the€jury€found€the€facts,€and€the€court€decidedÏwhether€an€award€of€prejudgment€interest€was€equitable€in€light€ofÏthose€facts.€€Ô#†0XÃrXX XÃr@#ÔÔ‡ XÃrXX0XÃrÔWe€do€not€find€this€improper.€Ô#†0XÃrXX XÃr#Ô ’Ý ƒ µÕÿÝÒ°ÒÒX°ÒÔ€0XÃrXXXÔÓ  Óà ` àòòÚ  Ú6Ú  ÚóóÝ  ÝSection€47„14„109(b)€(1995)€provides:€€"Liquidated€andÐ Œ  Ðsettled€accounts,€signed€by€the€debtor,€shall€bear€interest€fromÏthe€time€they€become€due,€unless€it€is€expressed€that€interest€isÏnot€to€accrue€until€a€specific€time€therein€mentioned.ðð dƒLevel 1Level 2Level 3Level 4Level 5(3¯$¢¢Ý ƒ!ÝÝ  Ý(3¯$££Ý ƒ!ÝÝ  Ý($$””ò òÚ  Ú1Ú  Úó ó4.Courier New Regular(('÷ÿ dxdüÿP Pd 'ÿÿdxd<4šÛ 9Z ‹.Courier New RegularÝ ƒ9¥!ÝÒ°ÒÒX°ÒÔ€0X#XXXÔÓ  ÓÝ  ÝÑ °ÑÑTR[¤ AØ'ÿ Legal3Ø' AØ'ÿ Legalÿ3Ø'TÑÔ€X#XX0X#ÔÑ  ÑÑŒ °ÑÑ  ÑÔ‡ X#XXX#ÔÓÓÓÓÑ7€%#%XXdÖdÈ7ÑÔ‡ &»&X X#Ôñ #ñ›ñ #ññª#ññ #ñßr€)<,(j 8` `€€@E ‘ ` 8ttxPXŒ ð  rßñ #ññª#ññª#ññª#ññ #ñ›ñ #ñà@--DàIN€THE€SUPREME€COURT€OF€TENNESSEEˆÌñª#ññª#ñÌñª#ññª#ñà@°°)DàAT€NASHVILLEˆÌÌ̛̜Ìñª#ññª#ñWIN€MYINT€and€wifeà h àà À àà  àœ)›€€€FOR€PUBLICATIONÐ è\ ÐPATTI€K.€MYINTà  àà h àà À àà  àœ)›Ð ¬  Ðà ` àà ¸ àà  àà h àà À àà  àœ)›€€€FILED:€JUNE€1,€1998Ìà ` àPlaintiffs/Appellantsà  àœ)›€€Ð 4¨  Ðà ` àà ¸ àà  àà h àà À àà  àœ)›€€€DAVIDSON€COUNTYÌv.à ` àà ¸ àà  àà h àà À àà  àœ)›€€€Ð ¼0  Ðà ` àà ¸ àà  àà h àà À àà  àœ)›€€€HON.€CHRISTINA€NORRIS,Ìñª#ññª#ñALLSTATE€INSURANCE€COMPANYà À àà  àœ)›à p à€€Special€ChancellorÐ D¸  Ѐ€€€€€€€€€€€€€€€€€€€€€€€€€€à  àœ)›Ð |  Ѐ€€€€œDefendant/Appelleeà À àà  à)€€€NO.›€œ01„S„01„9612„CH„00238Ð Ì@  ЛÌñª#ññª#ñÌñª#ñœßt€)>.*jx„` `€€@E¤1` 8ttxPÜÐ  tß›ñª#ñÌÌòòÔ#† X#X& &»„#ÔÔ‡ ôT®ôX X#ÔFor€Appellantsóó:òòà  àà h àà À àà  àœFor›€Appelleeóó:Ð   ÐÌJOSEPH€H.€JOHNSTON€€€€€à h àà À àà  àœBARRY›€FRIEDMANÐ t ÐNashville,€TNà  àà h àà À àà  àœPAIGE›€WALDROP€MILLSÐ °$ Ðà ` àà ¸ àà  àà h àà À àà  àœJOHN›€D.€SCHWALBÌà ` àà ¸ àà  àà h àà À àà  àœNashville,›€TNÌÌà ` àà ¸ àà  àà h àà À àà  àœJON›€L.€FLEISCHAKERÔ#†ôT®ôô ôT® #ÔÔ‡ ôT®ôôôT®ÔÐ pä Ðà ` àà ¸ àà  àà h àà À àà  àœLouisville,›€KYÔ#†ôT®ôô ôT®› #ÔÔ‡ ôT®ôôôT®ÔÐ  ” ÐòòÌà ` àà ¸ àà  àà h àà À àà  àœFor›€Amicus€Curiaeóó:Ð €!ô М̛à ` àà ¸ àà  àà h àà À àà  àEDWARD€K.€LANCASTERÌà ` àœà ¸ à›à  àà h àà À àà  àColumbia,€œTN›à  àà x àà Ð àà (# àœÐ #" Ðà ` àà ¸ àà  àà h à›à À àà  àœTennessee›€Farmers€œMutual€Insurance€Company›ÌÌà ` àà ¸ àà  àà h àà À àà  àJ.€RICHARD€LODGEÌà ` àà ¸ àà  àà h àà À àà  àE.€CLIFTON€KNOWLESÌÔ#†ôT®ôô ôT®J #ÔÔ‡ ôT®ôôôT®Ôà ` àà ¸ àà  àà h àà À àà  àNashville,€TNÐ 't' Ðà ` àà ¸ àà  àà h àà À àà  àœState›€Farm€Mutual€œAutomobile€Insurance›Ìà ` àà ¸ àà  àà h àà À àà  à€œCompany›ÌÌà ` àà ¸ àà  àà h àà À àà  àTHOMAS€H.€PEEBLES,€IIIÌà ` àà ¸ àà  àà h àà À àà  àG.€BRIAN€JACKSONÌà ` àà ¸ àà  àà h àà À àà  àNashville,€TNÌà ` àà ¸ àà  àà h àà À àà  àœNational›€Association€of€œIndependent€Insurers›ÌÔ#† X#Xô ôT®#ÔÔ‡ ôT®ôX X#Ôà ` àà ¸ àà  àà h àà À àà  àœ€and›€The€Alliance€of€American€InsurersÐ €,ô!/ ÐÌà ` àà ¸ àà  àà h àà À àà  àœJOHN›€KNOX€WALKUPÌà ` àà ¸ àà  àà h àà À àà  àœSTEPHEN›€C.€KNIGHTÌà ` àà ¸ àà  àà h àà À àà  àœñ˜#ñà p àñ˜#ñNashville,›€TNÌà ` àà ¸ àà  àà h àà À àà  àœñ™#ñà p àñ™#ñState›€of€TennesseeÔ#† X#Xô ôT®=#ÔÔ‡ &»&X X#ÔÐ ð/d%4 ÐÌœñŸ#ñÌñŸ#ñ›ÌÌÌà@ÃÃ,DàòòOPINIONˆÐ t4è): ÐÌÌóóÌœñž#ñÌñž#ñ›ÌJUDGMENT€OF€THE€COURT€OF€APPEALSÌREVERSED€IN€PART€AND€AFFIRMED€IN€PARTÔ#†&»&& &»C#ÔÔ‡ &»&&&»Ô€à È àà  àà x àBIRCH,€œJ.Ô#† X#X& &»œ#Ôñ#ññœ#ñÐ H8¼-? Ðñœ#ññœ#ñÌñœ#ññœ#ñÌñœ#ññœ#ñÐ ¸:,0B Ðñœ#ññ#ññš#ñÐ  Ð9D/AŠ Ðñš#ññ›#ñ›Ìñ›#ñÔ#†X#XX X#(#Ô›Ó;Óà ` àà ¸ àIn€this€cause,€the€insuror€refused€to€pay€a€claim€underÐ Œ  Ða€policy€of€insurance.€€The€insured€contends€that€such€refusalÏconstitutes€an€ð ðunfair€or€deceptive€act€or€practice,ðð€in€violationÏof€the€Consumer€Protection€Act,€Tenn.€Code€Ann.€ðððð€47„18„101,€òòetÐ  Ðseq.óó׃×Ý ƒ #ÃÝòòÚ  Ú1Ú  ÚóóÝ  Ý×  ×€€In€contrast,€the€insuror€insists€that€Tenn.€Code€Ann.€ðð€56„Ð <° Ð7„105,Ô‡ X#XXX#Ô׃ œ×Ý ƒ #ÃÝòòÚ  Ú2Ú  ÚóóÝ  Ý×  ×Ô#†X#XX X#c#Ô€commonly€known€as€the€ð ðbad€faith€statute,ðð€is€the€exclusiveÐ è\  Ðremedy€for€the€bad€faith€denial€of€an€insurance€claim.€€BecauseÏTitle€56,€Chapters€7€and€8€of€the€Tennessee€Code€comprehensivelÔ‡ X#XXX#ÔyÐ @´  Ðregulates€the€insuranÔ#†X#XX X#Î#Ôce€industry,€the€insuror€insists€that€the€actsÐ ì`  Ðand€practices€of€an€insurance€company€are€never€subject€to€theÏConsumer€Protection€Act.Ð D¸ Їà ` àà ¸ àWe€find,€for€the€reasons€stated€herein,€œthat›€the€acts€andÏpractices€of€an€insurance€company€may,€indeed,€be€subject€to€theÏConsumer€Protection€Act.€€We€conclude,€however,€that€the€factsÏbefore€us€do€not€evince€an€act€ð ðaffecting€the€conduct€of€any€tradeÏor€commerceðð€such€as€would€be€subject€to€the€Consumer€ProtectionÏAct.ÌÌà@/DàIˆÌÌà ` àà ¸ àThe€property€herein€involved€is€a€two„unit€structureÏlocated€at€224€Treutland€Street€in€Nashville.€€The€appellants,€WinÏand€Patti€Myint,€purchased€it€in€1983€and€began€leasing€the€units.€ÏSince€1989,€they€maintained€insurance€coverage€on€the€structureÏwith€the€appellee,€Allstate€Insurance€Company,€under€a€ð ðlandlordððsÏpackageðð€policy.€€The€structure€was€insured€for€its€estimatedÏmarket€value„„$61,000.€€In€April€1991,€the€ground€floor€tenantÏreported€water€leaking€from€the€second€floor.€€Repairs€were€made,Ïand€the€Myints€received€no€further€complaints.ÌÌà ` àà ¸ àIn€June€1991,€Win€Myint€inspected€the€property€andÏdiscovered€that€water€leaking€from€the€second„floor€kitchen€sinkÏhad€extensively€damaged€the€ceiling€and€walls€of€the€ground„levelÏunit.€€Win€Myint€then€initiated€the€eviction€process€against€theÏtenants€so€that€he€might€make€necessary€repairs.ÌÌà ` àà ¸ àWhen€one€of€those€tenants€applied€for€subsidized€housing,Ïthe€Metropolitan€Development€and€Housing€Authority€investigated€herÏhousing€status.€€In€processing€the€application,€a€building€codesÏofficer€inspected€the€property€and€reported€several€codeÐ \9Ð.8 Ðviolations.€€On€August€5,€1991,€the€Myints€received€notice€of€theÏcodes€violations€from€the€chief€housing€inspector€of€the€CodesÏDepartment€of€the€Metropolitan€Government€of€Nashville€and€DavidsonÏCounty.€€The€notice€described€the€property€as€ð ðunfit€for€humanÏhabitation,ðð€and€a€hearing€was€set€for€August€20,€1991.€€The€MyintsÏfailed€to€attend€the€hearing,€and€the€property€was€classified€asÏð ðH„6."œ×ƒ×Ý ƒ #ÃÝòòÚ  Ú3Ú  ÚóóÝ  Ý×  ×›€€The€Myints€were€ordered€to€relocate€the€structure€orÐ ”  Ðdemolish€it.ÌÌà ` àà ¸ àOn€September€27,€1991,€the€Myints€filed€a€claim€withÏAllstate€for€the€damage€caused€by€the€water,€and€Allstate€sent€anÏadjuster€to€inspect€the€property.€€While€the€claim€for€water€damageÏwas€pending,€the€Myints€began€to€make€repairs.€€On€September€30,Ï1991,€Allstate€informed€them€that€the€claim€had€been€denied€becauseÏthe€damage€had€been€caused€by€slowly€leaking€water,€which€isÏexcluded€from€coverage€by€the€terms€of€the€policy.€ÌÌà ` àà ¸ àOn€October€1,€1991,€the€codes€officials€ordered€a€halt€toÏthe€repair€process€because€the€Myints€had€not€obtained€theÏappropriate€permit.€€Consequently,€the€Myints€applied€for€a€permit,Ïbut€this€application€was€denied€because€the€property€had€beenÏpreviously€scheduled€for€demolition.€€ÌÐ T/È$, Ðà ` àà ¸ àOn€October€18,€1991,€Allstate€notified€the€Myints€thatÏthe€contract€of€insurance€would€be€terminated€as€of€December€2,Ï1991.€€At€trial,€an€Allstate€employee€testified€that€theÏcancellation€was€due€to€the€overall€poor€condition€of€the€property,Ïas€Allstateððs€adjuster€had€observed€when€he€inspected€the€waterÏdamage.€€On€October€23,€1991,€a€small€fire€in€the€basement€of€theÏproperty€caused€minor€smoke€damage;€it€is€unclear€whether€theÏMyints€notified€Allstate€of€this€occurrence.€€Three€days€later,€onÏOctober€26,€1991,€a€second€fire€engulfed€the€property€and€causedÏsubstantial€damage.€œ€The›€Myints€then€applied€for€a€variance€inÏorder€to€obtain€a€building€permit.€€The€Metropolitan€Board€ofÏHousing€Code€Appeals€granted€the€variance,€giving€the€Myints€untilÏSeptember€1,€1992,€to€bring€the€property€into€compliance€with€codeÏrequirements.ÌÌà ` àà ¸ àOn€January€10,€1992,€the€Myints€filed€with€AllstateÏð ðsworn€statements€in€proof€of€lossðð€for€the€fire€damage.€€BecauseÏAllstate€failed€to€respond€as€of€June€17,€1992,€the€MyintsððÏattorney€wrote€Allstate€demanding€a€decision€on€the€claim.€€On€JuneÏ23,€1992,€Allstate€denied€the€claim,€citing€two€policy€violations:€Ï(1)€the€Myints€intentionally€set€fire€to€the€property€for€theÏpurpose€of€collecting€the€insurance€proceeds;€and€(2)€the€fireÏdamage€was€the€result€of€an€increase€in€hazard€created€by€theÏMyintsðð€failure€to€maintain€the€property.Ô‡ XÃrXXXÃrÔ€€While€the€partiesÐ 1t&. Ðstipulated€that€both€fires€had€been€intentionally€set,€the€MyintsÏhave€always€denied€any€involvement€in€the€setting€of€the€fire.Ô#†XÃrXX XÃrO!#ÔÐ X4Ì)2 ÐÌà ` àà ¸ àThe€Myints€subsequently€filed€suit€against€Allstate€forÏbreach€of€the€insurance€policy,€violation€of€the€bad€faith€statute,Ð \9Ð.8 Ðand€violation€of€the€Consumer€Protection€Act.׃ ×Ý ƒ #ÃÝòòÚ  Ú4Ú  ÚóóÝ  Ý×  ×€€Prior€to€trial,€theÐ Œ  Ðtrial€court€dismissed€the€claim€for€relief€under€the€ConsumerÏProtection€Act.€€The€jury€found€Allstate€liable€under€the€terms€ofÏthe€insurance€policy€and€awarded€the€Myints€$45,000€in€damages,Ïsubject€to€aÔ‡ XÃrXXXÃrÔ€$250€deductible.Ô#†XÃrXX XÃrn$#Ô€€The€juryððs€award€reflected€theÐ <° Ðdecrease€in€the€market€value€of€the€residence,€from€approximatelyÏ$50,000€to€$5,000,€caused€by€the€fire.€€The€jury€further€determinedÏthat€Allstate€did€not€deny€the€claim€in€bad€faith;€thus,€the€MyintsÏwere€not€entitled€to€additional€damages€under€Ô‡ XÃrXXXÃrÔthe€bad€faithÐ ì`  ÐstatuteÔ#†XÃrXX XÃrñ%#Ô.€€After€the€jury€verdict,€Ô‡ XÃrXXXÃrÔthe€trial€courtÔ#†XÃrXX XÃrw&#Ô€awarded€$13,106Ð ˜  Ðin€prejudgment€interest€to€the€Myints,€pursuant€to€Tenn.€Code€Ann.Ïðð€47„14„123€(1988).€€ÌÌà ` àà ¸ àThe€Court€of€Appeals€reversed€the€trial€courtððsÏprejudgment€interest€ruling€and€affirmed€the€judgment€in€all€otherÏrespects.€€The€Court€of€Appeals€reasoned€that€the€ConsumerÏProtection€Act€is€not€applicable€because€the€insurerððs€bad€faithÏstatute,€Tenn.€Code€Ann.€ðð€56„7„105,€provides€the€exclusive€remedyÏfor€the€bad€faith€refusal€to€pay€an€insurance€claim.€€The€MyintsÏnow€appeal€that€determination€and€also€challenge€the€Court€ofÏAppealsðð€reversal€of€the€trial€court's€award€of€prejudgmentÏinterest.€€Pursuant€to€Tenn.€R.€App.€P.€11,€we€granted€the€MyintsððÏapplication€to€address€both€issues.׃è×Ý ƒ #ÃÝòòÚ  Ú5Ú  ÚóóÝ  Ý×  ×Ð T/È$, Їà@ÌÌ.DàIIˆÌÌÔ‡ XÃrXXXÃrÔà ` àà ¸ àAllstate€and€the€several€insurance€companies€which€filedÐ ä X Ðòòamicusóó€briefs€argue€that€the€Consumer€Protection€Act€does€not€applyÐ  Ðto€the€insurance€industry€because€the€comprehensive€insuranceÏregulations€in€Title€56,€Chapters€7€and€8€of€the€Tennessee€CodeÏspecifically€address€unfair€or€deceptive€acts€or€practices€on€theÏpart€of€the€insurance€industry.€€Each€asserts€that€Tenn.€Code€Ann.Ïðð€56„7„105,€which€provides€a€penalty€for€an€insurorððs€bad€faithÏrefusal€to€pay€a€claim,€is€the€exclusive€remedy€for€such€refusal.€ÏThe€Myints€and€the€Attorney€General,€on€the€other€hand,€urge€thatÏthe€purposes€of€the€insurance€regulations€and€the€ConsumerÏProtection€Act€are€distinct,€each€with€different€standards€ofÏliability,€and€each€with€different€remedies.€€They€insist€thatÏunder€appropriate€circumstances,€both€may€apply.€€We€note€thatÏwhile€this€Court€has€never€explicitly€held€the€Tennessee€ConsumerÏProtection€Act€applicable€to€insurance€companies,€we€implicitly€didÏso€in€òòMorris€v.€Mack's€Used€Carsóó,€824€S.W.2d€538,€539„40€(Tenn.Ð ø&l" Ð1992).€€In€òòMorrisóó,€we€cited€with€approval€to€òòSkinner€v.€Steeleóó,€730Ð ¤($ ÐS.W.2d€335€œ(Tenn.€App.€1987),€a€case€in€which€the€Court€of€AppealsÏexpressly€held€that€the€insurance€industry€was€not€exempt€from€theÏAct.ÌÌà ` àà ¸ àConstruction€of€a€statute€is€a€question€of€law€which€weÏreview€òòde€novoóó,€with€no€presumption€of€correctness.€€òòRoseman€v.Ð ¬2 (0 ÐRosemanóó,€890€S.W.2d€27,€29€(Tenn.€1994).€€The€role€of€the€Court€inÐ X4Ì)2 Ðconstruing€statutes€is€to€ascertain€and€give€effect€to€legislativeÐ 6x+4 Ðintent.€€òòWilson€v.€Johnson€Countyóó,€879€S.W.2d€807,€809€(Tenn.Ð Œ  Ð1994).€€Legislative€intent€is€to€be€ascertained€whenever€possibleÏfrom€the€natural€and€ordinary€meaning€of€the€language€used,€withoutÏforced€or€subtle€construction€that€would€limit€or€extend€theÏmeaning€of€the€language.€€òòCarson€Creek€Vacation€Resorts,€Inc.€v.Ð <° ÐDepartment€of€Revenueóó,€865€S.W.2d€1,€2€(Tenn.€1993).€€Here,€theÐ è\  Ðlanguage€of€the€statutes€at€issue€provide€ample€evidence€that€theÏlegislature€did€not€intend€to€exclude€insurance€companies€from€theÏpurview€of€the€Consumer€Protection€Act.€€€Ô#†XÃrXX XÃrD*#ÔÐ ì`  ÐÌà ` àà ¸ àFirst,€Ô‡ XÃrXXXÃrÔwe€examine€the€insurance€regulations€whichÐ D¸ ÐAllstate€and€several€òòamicaeóó€insist€are€the€exclusive€means€ofÐ ðd Ðsanctioning€insurance€companies€for€unfair€or€deceptive€acts€orÏpractices.€€Ô#†XÃrXX XÃrë3#ÔÔ‡ XÃrXXXÃrÔThe€Insurance€Trade€Practices€Act,€Tenn.€Code€Ann.€ððððÐ H ¼ Ð56„8„101€òòet€seq.óó,Ô#†XÃrXX XÃr5#ÔÔ‡ XÃrXXXÃrÔ€was€passed€in€1981€for€the€purpose€of€Ð ô!h ÐÓÓÌÓ6ÓÓÓà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àregulat[ing]€trade€practices€in€theÏbusiness€of€insurance€.€.€.€byÏdefining,€or€providing€for€theÏdetermination€of,€all€such€practicesÏin€this€state€which€constituteÏunfair€methods€of€competition€orÏunfair€or€deceptive€acts€orÏpractices€and€by€prohibiting€theÏtrade€practices€so€defined€orÏdetermined.Ð xx ÐÓÓÌTenn.€Code€Ann.€ðð€56„8„101€(1994).€€Section€56„8„104€specificallyÏlists€the€acts€which€constitute€unfair€competition€or€deceptiveÏacts,€including€unfair€claim€settlement€practices.€€Tenn.€Code€Ann.Ïðð€56„8„104(8)€(1994).€€Ô#†XÃrXX XÃr¹5#ÔÔ‡ XÃrXXXÃrÔThe€Insurance€Trade€Practices€Act€gives€theÐ ‚3ö(1 ÐCommissioner€of€Commerce€and€Insurance€broad€authority€toÏinvestigate€violations€of€the€Act,€issue€cease€and€desist€orders,Ïimpose€civil€penalties,€and€order€suspension€or€revocation€ofÐ †8ú-7 Ðinsurance€licenses.€€Ô#†XÃrXX XÃrà8#ÔÔ‡ XÃrXXXÃrÔTenn.€Code€Ann.€ðððð€56„8„107€&€„109(a)€(1994).Ô#†XÃrXX XÃrE:#ÔÔ‡ XÃrXXXÃrԀРŒ  ÐÔ#†XÃrXX XÃrº:#ÔÔ‡ XÃrXXXÃrÔNo€private€right€of€action€may€be€maintained€under€the€Act.€€Tenn.Ð 8 ¬ ÐCode€Ann.€ðð€56„8„104(8).€€ÌÌà ` àà ¸ àWhile€the€Insurance€Trade€Practices€Act€focuses€on€theÏcomprehensive€regulation€of€insurance€industry€practices,€the€badÏfaith€statute,€Tenn.€Code€Ann.€ðð€56„7„105,€focuses€on€specificÏinstances€of€bad€faith.€€Enacted€in€1901,€the€bad€faith€statuteÏprovides€a€private€right€of€action€to€an€individual€injured€by€anÏinsurance€companyððs€refusal€to€pay€a€claim,€if€the€refusal€ð ðwas€notÏin€good€faith.ðð€€€€ÌÌà ` àà ¸ àWe€find€nothing€in€either€the€Insurance€Trade€PracticesÏAct€or€the€bad€faith€statute€which€limits€an€insuredððs€remedies€toÏthose€provided€therein.€€Allstate€argues€that€Tenn.€Code€Ann.€ðð€56„¼8„103€ð ðplainly€states€that€it€is€the€òòsoleóó€meansðð€for€regulatingÐ  # Ðunfair€or€deceptive€insurance€acts€or€practices.€€Section€56„8„103Ï(1995)€provides:ÌÓÓÌà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àNo€person€shall€engage€in€this€stateÏin€any€trade€practice€which€isÏdefined€in€this€chapter€as,€orÏdetermined€pursuant€to€ðð€56„8„108€toÏbe,€an€unfair€method€of€competitionÏor€an€unfair€or€deceptive€act€orÏpractice€in€the€business€ofÏinsurance.€€Ð xx ÐÓÓÌThis€language€cannot€reasonably€be€construed€as€limiting€theÏremedies€available€outside€the€Insurance€Trade€Practices€Act.€ÏLikewise,€the€language€in€Tenn.€Code€Ann.€ðð€56„8„101,€explainingÏthe€purpose€of€the€Insurance€Trade€Practices€Act,€is€not€relevantÏto€whether€a€private€right€of€action€created€outside€the€Act€isÐ †8ú-7 Ðavailable€to€a€consumer€who€is€harmed€by€an€insurance€companyððs€actÏor€practiceÔ#†XÃrXX XÃr;#ÔÔ‡ XÃrXXXÃrÔ.€€We€therefore€conclude€that€the€insurance€regulationsÐ 8 ¬ Ðin€Title€56,€Chapters€7€and€8€of€the€Tennessee€Code€do€notÏforeclose€application€of€the€Consumer€Protection€Act€to€insuranceÏcompanies.ÌÌà ` àà ¸ àNext,€we€examine€the€Consumer€Protection€Act€to€determineÏwhether€the€acts€and€practices€of€insurance€companies€are€outsideÏits€scope.€€Clearly,€they€are€not.€€Ô#†XÃrXX XÃr#B#ÔÔ‡ XÃrXXXÃrÔThe€Consumer€Protection€Act€isÐ ì`  Ðremedial,€rather€than€regulatory€in€nature,€and€it€specificallyÏprovides€a€private€right€of€action€for€òòanyóóÔ#†XÃrXX XÃròC#ÔÔ‡ XÃrXXXÃrÔ€ð ð[u]nfair€or€deceptiveÐ D¸ Ðacts€or€practices€affecting€the€conduct€of€any€trade€or€commerce.ðð€ÏTenn.€Code€Ann.€ðððð€€47„18„104(a)€&€„109(a)(1)€(1995€&€Supp.€1997).€ÏÔ#†XÃrXX XÃr×D#ÔÔ‡ XÃrXXXÃrÔWithin€the€Act€is€an€nonexclusive€list€of€the€unfair€or€deceptiveÐ H ¼ Ðacts€or€practices€which€are€prohibited.€€This€list€does€notÏspecifically€address€the€acts€or€practices€of€insurance€companies,Ïbut€it€includes€a€general,€ð ðcatch„allðð€provision€which€prohibitsÏð ð[e]ngaging€in€any€other€act€or€practice€which€is€deceptive€to€theÏconsumer€or€to€any€other€person.ðð€€Tenn.€Code€Ann.€ðð€47„18„¼104(b)(27)€(Supp.€1997).Ì€€Ô#†XÃrXX XÃrÙE#ÔÐ ü+p!( Ðà ` àà ¸ àAdditionally,€it€is€significant€that€the€ConsumerÏProtection€Act€specifically€exempts€certain€entities€andÏtransactions€from€the€prohibitions€of€the€Act.€€Ô‡ XÃrXXXÃrÔTennessee€CodeÐ 1t&. ÐAnnotated€ðð€47„18„111€(1995)€states:ÌÓÓÌà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àà h à(a)€€The€provisions€of€thisÏpart€do€not€apply€to:Ð xx ÐÌà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àà h à(1)€€Acts€or€transactionsÏrequired€or€specifically€authorizedÏunder€the€laws€administered€by,€orÐ \9Ð.8 Ðrules€and€regulations€promulgatedÏby,€any€regulatory€bodies€orÏofficers€acting€under€the€authorityÏof€this€state€or€of€the€UnitedÏStates;Ð xx ÐÌà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àà h à(2)€€A€publisher,€broadcaster,Ïor€other€person€principally€engagedÏin€the€preparation€or€disseminationÏof€information€or€the€reproductionÏof€printed€or€pictorial€matter,€whoÏhas€prepared€or€disseminated€suchÏinformation€or€matter€on€behalf€ofÏothers€without€notification€from€theÏdivision€that€the€information€orÏmatter€violates€or€is€being€used€asÏa€means€to€violate€the€provisions€ofÏthis€part;Ð xx ÐÌà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àà h à(3)€€Credit€terms€of€aÏtransaction€which€may€be€otherwiseÏsubject€to€the€provisions€of€thisÏpart,€except€insofar€as€theÏTennessee€Equal€Consumer€Credit€ActÏof€1974,€compiled€in€part€8€of€thisÏchapter€may€be€applicable;€€orÐ xx ÐÌà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àà h à(4)€€A€retailer€who€has€in€goodÏfaith€engaged€in€the€disseminationÏof€claims€of€a€manufacturer€orÏwholesaler€without€actual€knowledgeÏthat€such€claims€violated€this€part.Ð xx ÐÓ IÓÌInsurance€companies€are€not€mentioned€in€this€statute.€BecauseÏexemptions€in€other€areas€have€been€explicitly€addressed,€Ô#†XÃrXX XÃr¢H#ÔÔ‡ XÃrXXXÃrÔtheÐ ¤($ Ðomission€of€an€exemption€for€insurance€companies€strongly€indicatesÏthat€no€such€exemption€was€intended.€€Ô#†XÃrXX XÃrÌO#ÔÐ ü+p!( ÐÌà ` àà ¸ àÔ‡ XÃrXXXÃrÔMoreover,€to€exempt€insurance€companies€from€the€purviewÐ T/È$, Ðof€the€Consumer€Protection€Act€would€frustrate€the€purposes€of€theÏAct,€which€includeÔ#†XÃrXX XÃr¾P#Ô:Ð ¬2 (0 ÐÓÓÌÓ¸QÓÓÓà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àà h à(1)€€To€simplify,€clarify,€andÏmodernize€state€law€governing€theÏprotection€of€the€consuming€publicÏand€to€conform€these€laws€withÏexisting€consumer€protectionÏpolicies;Ð\9Ð.8xx Їà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àà h à(2)€€To€protect€consumers€andÏlegitimate€business€enterprises€fromÏthose€who€engage€in€unfair€orÏdeceptive€acts€or€practices€in€theÏconduct€of€any€trade€or€commerce€inÏpart€or€wholly€within€this€state;Ð xx ÐÌà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àà h à(3)€€To€encourage€and€promoteÏthe€development€of€fair€consumerÏpractices;Ð xx ÐÌà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àà h à(4)€€To€declare€and€to€provideÏfor€civil€legal€means€forÏmaintaining€ethical€standards€ofÏdealing€between€persons€engaged€inÏbusiness€and€the€consuming€public€toÏthe€end€that€good€faith€dealingsÏbetween€buyers€and€sellers€at€allÏlevels€of€commerce€be€had€in€thisÏstate;€€andÐ xx ÐÌà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àà h à(5)€€To€promote€statewideÏconsumer€education.ÓÓÐ xx ÐÌTenn.€Code€Ann.€ðð€47„18„102€(1995).€€Furthermore,€the€legislatureÏhas€explicitly€required€that€the€Act€be€liberally€construed€inÏorder€to€effectuate€these€purposes.€€òòId.óó€€Section€47„18„115€(1995)Ð  # Ðfurther€emphasizes€the€point:€ð ðThis€part,€being€deemed€remedialÏlegislation€necessary€for€the€protection€of€the€consumers€of€theÏstate€of€Tennessee€and€elsewhere,€shall€be€construed€to€effectuateÏthe€purposes€and€intent.ððÌÌà ` àà ¸ àFinally,€the€most€decisive€language€is€found€in€Tenn.ÏCode€Ann.€ðð€47„18„112€(1995):ÌÓÓÌÓôXÓÓÓà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àThe€powers€and€remedies€provided€inÏthis€part€shall€be€cumulative€andÏsupplementary€to€all€other€powersÏand€remedies€otherwise€provided€byÏlaw.€€The€invocation€of€one€power€orÏremedy€herein€shall€not€be€construedÏas€excluding€or€prohibiting€the€useÏof€any€other€available€remedy.Ð xx ÐÓÓÐ †8ú-7 ÐÓ‘ZÓÓÓThis€language€is€crystal€clear.€€Even€when€a€different€code€sectionÏapplies€and€is€invoked€to€obtain€relief,€the€Consumer€ProtectionÏAct€may€also€apply,€assuming€the€act€or€practice€in€question€fallsÏwithin€the€scope€of€its€application.ÌÌà ` àà ¸ àTherefore,€the€mere€existence€of€comprehensive€insuranceÏregulations€does€not€prevent€the€Consumer€Protection€Act€from€alsoÏapplying€to€the€acts€or€practices€of€an€insurance€company.€Ô‡ XÃrXXXÃrÔ€In€thisÐ @´  Ðcontext,€the€legislature€has€enacted€a€trilogy€of€statutes€which,Ïon€their€faces,€apply€to€unfair€and€deceptive€insurance€trade€actsÏand€practices.€€Ô#†XÃrXX XÃr\#ÔWe€consider€the€Insurance€Trade€Practices€Act,€theÐ D¸ Ðbad€faith€statute,€and€the€Consumer€Protection€Act€as€òòcomplementaryóóÐ ðd Ðlegislation€that€accomplishes€different€purposes,€and€we€conclude,Ïaccordingly,€that€the€acts€and€practices€of€insurance€companies€areÏgenerally€subject€to€the€application€of€all€three.€ÌÌà ` àà ¸ àThe€next€question€is€whether€the€particular€act€at€issueÏhere„„the€denial€of€the€Myintsðð€claim„„violated€the€ConsumerÏProtection€Act.€€The€stated€purpose€of€the€Consumer€Protection€ActÏis€ð ð[t]o€protect€consumers€and€legitimate€business€enterprises€fromÏthose€who€engage€in€unfair€or€deceptive€acts€or€practices€in›€theÏconduct€of€any€trade€or€œcommerce›€in€part€or€wholly€within€thisÏState.ðð€€Tenn.€Code€Ann.€ðð€47„18„102(2)€œ(1988).›€€The€terms€ð ðtrade,ððÏð ðcommerce,ðð€and€ð ðconsumer€transactionðð€are€defined€by€the€Act€toÏmeanÌÓÓÌÓ4aÓÓÓà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àthe€œadvertising,›€offering€for€sale,Ïlease€or€rental,€or€œdistribution›€ofÏany€goods,€services,€or€property,Ïtangible€or€intangible,€real,Ïâ âpersonal,€or€mixed,€and€otherÐ †8ú-7 Ðarticles,€commodities€or€things€ofÏvalue€wherever€situated.Ð xx Ðâ âÓÓÌTenn.€Code€Ann.€ðð€47„18„103(9)€œ(1988).›€€ÌÌà ` àà ¸ àWhile€the€sale€of€a€policy€of€insurance€easily€fallsÏunder€this€definition€of€ð ðtradeðð€and€ð ðcommerce,ðð€we€conclude€thatÏAllstateððs€conduct€in€handling€the€Myintsðð€insurance€policy€wasÏneither€unfair€nor€deceptive.€€The€record€reveals€no€evidence€of€anÏattempt€by€Allstate€to€violate€the€terms€of€the€policy,€deceive€theÏMyints€about€the€terms€of€the€policy,€œor›€otherwise€act€unfairly.€ÏIt€is€apparent€that€the€denial€of€the€Myintsðð€claim€was€œAllstateððsÏreaction€to€circumstances€which€Allstate€believed€to€be€suspicious.€ÏConsequently,€Allstateððs€conduct€does€not€fall€within€the€purviewÏof€the€Tennessee€Consumer€Protection€Act,€and€Ô‡ XÃrXXXÃrÔthe€Myints€are€notÐ H ¼ Ðentitled€to€the€benefits€of€treble€damages€and€attorneyððs€feesÏrecoverable€under€the€Act.Ô#†XÃrXX XÃr¸e#Ô€€The€trial€courtððs€dismissal€of€theÐ  # ÐConsumer€Protection€Act€claim€and€the€subsequent€approval€of€thatÏdismissal€by€the€Court€of€Appeals€is€therefore€affirmed.ÌÌà@.DàIIIˆÌÌà ` àà ¸ àÔ‡ XÃrXXXÃrÔThe€final€issue€is€whether€the€trial€court€properlyÐ ¨-#* Ðawarded€prejudgment€interest€Ô#†XÃrXX XÃreg#ÔÔ‡ XÃrXXXÃrÔto€the€Myints.€€They€requested€theÐ T/È$, Ðprejudgment€interest€pursuant€to€Ô#†XÃrXX XÃr h#ÔTenn.€Code€Ann.€ðð€47„14„123Ð 1t&. Ð(1988),€which€provides:ÌÓÓÌÓñhÓÓÓà8 ` àà8¸ ` (#` (#àà8¸ Ð ¸ Ð àPrejudgment€interest,€i.e.,€interestÏas€an€element€of,€or€in€the€natureÏof,€damages,€as€permitted€by€theÏstatutory€and€common€laws€of€theÏstate€as€of€April€1,€1979,€may€beÏawarded€by€courts€or€juries€inÐ \9Ð.8 Ðaccordance€with€the€principles€ofÏequity€at€any€rate€not€in€excess€ofÏa€maximum€effective€rate€of€tenÏpercent€(10%)€per€annum€.€.€.€.ÓÓÐ xx ÐÌThe€trial€courtððs€award€of€$13,106€in€prejudgment€interest€wasÏcalculated€under€the€simple€interest€method€by€applying€a€10%Ïannual€interest€rate€to€the€judgment€amount€of€$44,750€from€JuneÏ26,€1991,€the€date€the€insurance€claim€was€denied,€to€May€31,€1995,Ïthe€date€the€trial€courtððs€judgment€was€entered.Ì€€€Ìà ` àà ¸ àAn€award€of€prejudgment€interest€is€within€the€soundÏdiscretion€of€the€trial€court€and€the€decision€will€not€beÏdisturbed€by€an€appellate€court€unless€the€record€reveals€aÏmanifest€and€palpable€abuse€of€discretion.€€òòSpencer€v.€A„1€CraneÐ ræ ÐService,€Inc.óó,€880€S.W.2d€938,€944€(Tenn.€1994);€òòOtis€v.€CambridgeÐ !’ ÐMut.€Fire€Ins.€Co.óó,€850€S.W.2d€439,€446€(Tenn.€1992).€€ThisÐ Ê"> Ðstandard€of€review€clearly€vests€thÔ‡ XÃrXXXÃrÔe€trial€court€with€considerableÐ v$ê Ðdeference€in€the€prejudgment€interest€decision.€Ô#†XÃrXX XÃrn#Ô€Generally€stated,Ð "&–! ÐtheÔ‡ XÃrXXXÃrÔ€abuse€of€discretion€standard€does€not€authorize€an€appellateÐ Î'B# Ðcourt€to€merely€substitute€its€judgment€for€that€of€the€trialÏcourt.€Ô#†XÃrXX XÃrên#ÔÔ‡ XÃrXXXÃrÔ€Thus,€iÔ#†XÃrXX XÃrÃo#ÔÔ‡ XÃrXXXÃrÔn€cases€where€the€evidence€supports€the€trialÐ &+š ' Ðcourtððs€decision,€no€abuse€of€discretion€is€found.€€òòSeeóó€òòState€v.Ð Ò,F") ÐGrearóó,€568€S.W.2d€285,€286€(Tenn.€1978)€(applying€abuse€ofÐ ~.ò#+ Ðdiscretion€standard€to€trial€courtððs€decision€to€deny€request€forÏsuspended€sentence),€òòcert.€deniedóó,€439€U.S.€1077,€99€S.€Ct.€854,€59Ð Ö1J'/ ÐL.€Ed.2d€45€(1979).Ô#†XÃrXX XÃr p#ÔÐ ‚3ö(1 ÐÌà ` àà ¸ àSeveral€principles€guide€trial€courts€in€exercising€theirÏdiscretion€to€award€or€deny€prejudgment€interest.€€Foremost€are€theÐ †8ú-7 Ðprinciples€of€equity.€€Tenn.€Code€Ann.€ðð€47„14„123.€€Simply€stated,Ïthe€court€must€decide€whether€the€award€of€prejudgment€interest€isÏfair,€given€the€particular€circumstances€of€the€case.€€In€reachingÏan€equitable€decision,€a€court€must€keep€in€mind€that€the€purposeÏof€awarding€the€interest€is€to€fully€compensate€a€plaintiff€for€theÏloss€of€the€use€of€funds€to€which€he€or€she€was€legally€entitled,Ïnot€to€penalize€a€defendant€for€wrongdoing.€€Ô‡ XÃrXXXÃrÔòòMitchell€v.€Mitchellóó,Ð ”  ÐÔ#†XÃrXX XÃr|t#ÔÔ‡ XÃrXXXÃrÔ876€S.W.2d€830,€832€(Tenn.€1994);Ô#†XÃrXX XÃrît#ÔÔ‡ XÃrXXXÃrÔ€Ô#†XÃrXX XÃrQu#ÔòòOtisóó,€850€S.W.2d€at€446.Ð @´  ÐÌà ` àà ¸ àIn€addition€to€the€principles€of€equity,€two€otherÏcriteria€have€emerged€from€Tennessee€common€law.€€The€firstÏcriterion€provides€that€prejudgment€interest€is€allowed€when€theÏamount€of€the€obligation€is€certain,€or€can€be€ascertained€by€aÏproper€accounting,€and€the€amount€is€not€disputed€on€reasonableÏgrounds.€€òòMitchellóó,€876€S.W.2d€at€832.€€The€second€provides€thatÐ ô!h Ðinterest€is€allowed€when€the€existence€of€the€obligation€itself€isÏnot€disputed€on€reasonable€grounds.€€òòId.óó€(citing€òòTextile€WorkersÐ L%À  ÐUnion€v.€Brookside€Mills,€Inc.óó,€205€Tenn.€394,€402,€326€S.W.2d€671,Ð ø&l" Ð675€(1959)).€€ÌÌà ` àà ¸ àWe€note€that€these€criteria,€if€strictly€construed,€couldÏprohibit€the€recovery€of€prejudgment€interest€in€the€vast€majorityÏof€cases.€€Indeed,€only€a€liquidated€claim,€for€which€prejudgmentÏinterest€is€already€recoverable€as€a€matter€of€right€under€Tenn.ÏCode€Ann.€ðð€47„14„109,Ô‡ XÃrXXXÃrÔ׃×Ý ƒ #ÃÝòòÚ  Ú6Ú  ÚóóÝ  Ý×  ×Ô#†XÃrXX XÃr¨y#Ô€can€truly€be€considered€an€obligation€ofÐ ¬2 (0 Ðcertain€and€indisputable€amount.€€Further,€it€is€safe€to€say€that,Ð X4Ì)2 Ðat€trial,€defendants€usually€can€articulate€at€least€one€goodÏreason€for€disputing€the€existence€of€the€obligation,€for€were€itÏotherwise,€defendants€would€rarely€survive€summary€judgment.€ÏFinally,€the€focus€on€whether€the€defendant€had€a€reasonableÏdefense€ignores€the€principle€that€prejudgment€interest€is€not€aÏpenalty€imposed€on€the€defendant€for€indefensible€conduct.€Ô‡ XÃrXXXÃrÔ€€€€Ô#†XÃrXX XÃrI|#Ô€€Ð è\  ÐÌà ` àà ¸ àNot€surprisingly,€an€analysis€of€relevant€case€lawÏreveals€that€these€criteria€have€not€been€used€to€deny€prejudgmentÏinterest€in€every€case€where€the€defendant€reasonably€disputed€theÏexistence€or€amount€of€an€obligation.€€More€typically,€courtsÏeither€use€the€certainty€of€a€claim€as€support€for€an€award€ofÏprejudgment€interest,€or€they€do€not€discuss€the€certainty€of€theÏclaim€at€all.€€òòSeeóó,€òòe.g.óó,€òòMitchellóó,€876€S.W.2d€at€832€€(allowingÐ H ¼ Ðthe€award€of€interest€where€the€existence€and€amount€of€theÏobligation€under€a€settlement€agreement€were€not€reasonablyÏdisputed);€€òòOtisóó,€850€S.W.2d€at€446€(allowing€the€award€of€interestÐ L%À  Ðto€a€plaintiff€whose€right€to€recover€under€a€fire€insuranceÏcontract€was€reasonably€disputed€on€the€grounds€of€arson€andÏmisrepresentation);€€òòPerformance€Systems,€Inc.€v.€First€AmericanÐ P*Ä& ÐNat.€Bankóó,€554€S.W.2d€616,€619€(Tenn.€1977)€(allowing€the€award€ofÐ ü+p!( Ðinterest,€although€the€existence€of€the€defendantððs€obligationÏunder€the€lease€was€reasonably€disputed);€òòJohnson€v.€TennesseeÐ T/È$, ÐFarmers€Mut.€Ins.€Co.óó,€556€S.W.2d€750,€752€(Tenn.€1977)(allowingÐ 1t&. Ðthe€award€of€interest,€although€the€amount€of€recovery€under€theÏinsurance€claim€was€reasonably€disputed);€òòUhlhorn€v.€Keltneróó,€723Ð X4Ì)2 ÐS.W.2d€131,€138€(Tenn.€App.€1986)€(allowing€award€of€interest€in€aÏboundary€dispute€case,€where€the€existence€of€any€obligation€to€payÏrent€and€the€amount€of€rent€due€were€both€reasonably€disputed);Ð \9Ð.8 ÐòòSchoen€v.€J.C.€Bradford€&€Co.óó,€667€S.W.2d€97,€101„02€(Tenn.€App.Ð Œ  Ð1984)(rejecting€argument€that€prejudgment€interest€should€not€beÏimposed€when€defendant€appealed€in€good€faith).׃×Ý ƒ #ÃÝòòÚ  Ú7Ú  ÚóóÝ  Ý×  ׀Рä X ÐÌà ` àà ¸ àThus,€we€find€that€if€the€existence€or€amount€of€anÏobligation€is€certain,€this€fact€will€help€support€an€award€ofÏprejudgment€interest€as€a€matter€of€equity.€€After€all,€the€moreÏclear€the€fact€that€the€plaintiff€is€entitled€to€compensatoryÏdamages,€the€more€clear€the€fact€that€the€plaintiff€is€alsoÏentitled€to€prejudgment€interest€as€part€of€the€compensatoryÏdamages.€€The€converse,€however,€is€not€necessarily€true.€€TheÏuncertainty€of€either€the€existence€or€amount€of€an€obligation€doesÏnot€òòmandateóó€a€denial€of€prejudgment€interest,€and€a€trial€courtððsÐ œ Ðgrant€of€such€interest€is€not€automatically€an€abuse€of€discretion,Ïprovided€the€decision€was€otherwise€equitable.€€The€certainty€ofÏthe€plaintiffððs€claim€is€but€one€of€many€nondispositive€facts€toÏconsider€when€deciding€whether€prejudgment€interest€is,€as€a€matterÏof€law,€equitable€under€the€circumstances.€€€€€€ÌÌà ` àà ¸ àTurning€to€the€facts€at€hand,€the€Court€of€Appeals€foundÏthat€the€trial€court€abused€its€discretion€in€awarding€prejudgmentÏinterest€because€the€amount€due€was€not€certain€and€Allstate€had€aÐ ¨-#* Ðreasonable€basis€upon€which€to€dispute€the€Myintsðð€right€toÏrecovery.€€Concededly,€Allstate€did€have€a€reasonable€basis€onÏwhich€to€dispute€liability€in€this€case,€considering€the€series€ofÏevents€which€led€to€the€loss:€(1)€the€Myints€were€notified€by€aÏletter€dated€October€18,€1991,€that€their€insurance€policy€would€beÏcanceled€as€of€December€2,€1991;€(2)€this€cancellation€was€due€toÏthe€deteriorating€condition€of€the€house;€(3)€five€days€later,€onÏOctober€23,€a€small€fire€was€intentionally€set€in€the€basement€ofÏthe€house;€and€(4)€on€October€26,€a€second€fire€was€Ô‡ XÃrXXXÃrÔintentionallyÐ ì`  Ðset,€caÔ#†XÃrXX XÃr ‹#Ôusing€more€extensive€damage.€€Although€no€conclusiveÐ ˜  Ðevidence€was€adduced€to€support€Allstate's€suspicions€that€theÏMyints€were€involved€in€the€arsons,€under€these€circumstances,ÏAllstateððs€denial€of€the€claim€was€certainly€reasonable.ÌÌà ` àà ¸ àWhile€the€Myintsðð€right€of€recovery€may€have€beenÏreasonably€disputed,€we€are€not€convinced€that€the€amount€ofÏrecovery€was€uncertain€for€the€purposes€of€prejudgment€interest.€ÏThe€test€for€determining€whether€the€amount€of€damages€is€certainÏis€not€whether€the€parties€agree€on€a€fixed€amount,€for€a€fixedÏamount€would€be€a€liquidated€claim,€and€the€plaintiff€would€have€aÏright€to€collect€interest€under€Tenn.€Code€Ann.€ðð€47„14„109(b).€ÏÔ‡ XÃrXXXÃrÔInstead,€the€test€is€whether€the€amount€of€damages€is€ascertainableÐ ¨-#* Ðby€computation€or€by€any€recognized€standard€of€valuation.€€This€isÏtrue€even€if€there€is€a€dispute€over€monetary€value€or€if€theÏpartiesðð€experts€compute€differing€estimates€of€damage.€€Ô#†XÃrXX XÃrOŽ#ÔÔ‡ XÃrXXXÃrÔòòSeeóóÐ ¬2 (0 ÐòòUnlimited€Equip.€Lines€v.€Graphic€Arts€Centre,€Inc.óó,€889€S.W.2dÐ X4Ì)2 Ð926,€942„43€(Mo.€Ct.€App.€1994);€òòCommunity€State€Bank€v.€OððNeillóó,Ð 6x+4 Ð553€N.E.2d€174,€177„78€(Ind.€Ct.€App.€1990).€€Here,€the€amount€ofÏdamages€was€ascertainable€by€two€well„accepted€methods€ofÐ \9Ð.8 Ðvaluation:€€by€estimation€of€the€cost€to€repair€the€fire€damage,Ïand€by€calculation€of€the€difference€between€the€market€value€ofÏthe€house€prior€and€subsequent€to€the€fire.€€That€these€values€wereÏcontested€by€the€parties€does€not€preclude€an€award€of€prejudgmentÏinterest.€Ô#†XÃrXX XÃr§#ÔÔ‡ XÃrXXXÃrÔ€€Ô#†XÃrXX XÃrc’#ÔÐ <° ÐÌà ` àà ¸ àAdditional€facts€indicate€that€the€trial€courtððs€award€ofÏprejudgment€interest€was€an€equitable€decision.€€First,€a€juryÏdetermined€that€the€Myints€did€not€commit€arson€and€were€legallyÏentitled€to€the€insurance€proceeds.€€Yet,€they€were€without€the€useÏof€those€proceeds€from€the€date€of€the€loss,€October€1990,€to€theÏtrial€courtððs€judgment€in€May€1995„Ô‡ XÃrXXXÃrÔ„a€period€of€approximately€fourÐ ðd Ðand€a€half€yearsÔ#†XÃrXX XÃr>”#Ô.€€During€that€time,€Ô‡ XÃrXXXÃrÔAllstate€had€full€use€of€theÐ œ ÐfundsÔ#†XÃrXX XÃrÙ”#Ô,€while€the€Myints€possessed€only€unproductive€property.€Ð H ¼ ÐÔ‡ XÃrXXXÃrÔUnquestionably,€then,€the€Myints€cannot€be€òòfullyóó€compensatedÐ ô!h Ðwithout€the€award€of€interest.€Ô#†XÃrXX XÃrŸ•#ÔÔ‡ XÃrXXXÃrÔ€Further,€the€trial€court€did€notÐ  # Ðallow€the€interest€to€begin€accruing€until€the€date€Allstate€deniedÏthe€claim,€June€1991,€rather€than€the€date€of€the€loss,€as€theÏtrial€court€did€in€òòWilder€v.€Tennessee€Farmers€Mutual€Ins.€Co.óó,€912Ð ¤($ ÐS.W.2d€722,€727€(Tenn.€App.€1995)€(award€of€interest€beginning€atÏdate€of€loss€was€abuse€of€discretion;€two€year€period€was€moreÏappropriate€under€the€circumstances).€Ô#†XÃrXX XÃrW–#ÔÐ ¨-#* ÐÌà ` àà ¸ àIn€conclusion,€we€find€that€there€is€evidence€here€toÏsupport€the€award€of€prejudgment€interest.€€Consequently,€the€trialÏcourtððs€decision€was€not€a€ð ðmanifest€and€palpable€abuse€ofÏâ âdiscretion,ðð€and,€as€a€matter€of€law,€we€are€constrained€to€sustainÐ 6x+4 Ðthe€trial€courtððs€judgment,€even€if€we€were€to€disagree€with€it.׃×Ý ƒ #ÃÝòòÚ  Ú8Ú  ÚóóÝ  Ý×  ׀РŒ  Ðâ âÌà@ÌÌ.DàIVˆÌ€Ìñâ"ññá"ñò òñá"ññâ"ñà ` àà ¸ àIn€sum,€we€hold€that€the€Consumer€Protection€Act,Ïalthough€applicable€to€the€insurance€industry€as€a€whole,€does€notÏprovide€a€right€to€recovery€ñá"ñò òñá"ñto€the€Myints€for€the€denial€of€theirÏinsurance€claim.€ñá"ñó óñá"ñ€Further,€under€the€circumstances€of€this€caseñá"ñò òñá"ñ,ñá"ñó óñá"ñ€weÏfind€no€error€in€the€award€of€prejudgment€interest.€€ñá"ñò òñá"ñAccordingly,€Ïwe€affirm€the€Court€of€Appealsðð€ñÞ"ññÖ"ñdecision€to€affirm€the€ñÖ"ññÞ"ñdismissal€of€the€claim€made€underÏthe€Consumer€Protection€Act.€€ñÝ"ñ›ñÝ"ñWe€reverse€the€Court€of€AppealsððÏœñß"ñdecisiñß"ññà"ñonñà"ññß"ñ›ñÖ"ñrulingñÖ"ññß"ñs›€that€the€Consumer€Protection€Act€does€not€apply€toÏinsurance€companies€and€that€the€prejudgment€interest€award€was€anÏabuse€of€discretñÙ"ññØ"ñtñØ"ññÙ"ññÚ"ñiñÚ"ññÛ"ññÚ"ñoinñÚ"ññÛ"ññÜ"ñon.ñÜ"ññÝ"ñœñÝ"ññá"ñó óñá"ñÌñâ"ññá"ñó óñá"ññâ"ñÓÓÔ‡ XÃrXXXÃrÔÌÌÌà ` àà ¸ àà  àà h àà À àà  à______________________________Ìà ` àà ¸ àà  àà h àà À àà  àADOLPHO€A.€BIRCH,€JR.,€JusticeÌÐ "&–! ÐCONCUR:Ì€ÌAnderson,€C.J.ÌDrowota,€Holder,€JJ.Ô#†XÃrXX XÃr&ž#ÔÐ  ‚ ÐÔ‡ XÃrXXXÃrÔReid,€Ô#†XÃrXX XÃrŸ#ÔS.J.