Title 56, Insurance

(1) Transactions between an RB and the insurer the RB represents in that capacity shall only be entered into pursuant to a written authorization specifying the responsibilities of each party. The authorization shall, at a minimum, provide that:(1) The insurer may terminate the RB…

(a) For at least ten (10) years after expiration of each contract of reinsurance transacted by the RB, the RB will keep a complete record for each transaction showing:(1) The type of contract, limits, underwriting restrictions, classes of risks and territory;(2) Period of coverag…

(a) An insurer shall not engage the services of any person, firm, association or corporation to act as an RB on its behalf unless the person is licensed as required by § 56-6-803(a). (b) An insurer may not employ an individual who is employed by an RB with which it transacts busi…

(1) Transactions between an RM and the reinsurer it represents in that capacity shall only be entered into pursuant to a written contract, specifying the responsibilities of each party, which shall be approved by the reinsurer's board of directors. At least thirty (30) days befor…

(1) The RM shall not:(1) Cede retrocessions on behalf of the reinsurer, except that the RM may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for the retrocessions. The g…

(a) A reinsurer shall not engage the services of any person, firm, association or corporation to act as an RM on its behalf unless the person is licensed as required by § 56-6-803(a). (b) The reinsurer shall annually obtain a copy of statements of the financial condition of each …

A reinsurance intermediary shall be subject to examination by the commissioner. The commissioner shall have access to all books, bank accounts and records of the reinsurance intermediary in a form usable to the commissioner.

(a) A reinsurance intermediary, insurer or reinsurer found by the commissioner, after a hearing conducted in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, to be in violation of this part, shall:(1) For each separate violation, pay a pe…

The commissioner may adopt reasonable rules and regulations for the implementation and administration of this part.

(a) This part is known and may be cited as the “Tennessee Public Adjuster Licensing Act of 2006.” (b) This part governs the qualifications and procedures for the licensing of public adjusters. It specifies the duties of and restrictions on public adjusters, which include limiting…

(1) As used in this part, unless the context otherwise requires:(1) “Catastrophic disaster” means an event that results in large numbers of deaths and injuries, causes extensive damage or destruction of facilities that provide and sustain human needs, produces an overwhelming dem…

(a) No person shall act or hold out as being a public adjuster as defined in § 56-6-902, unless licensed as a public adjuster in accordance with this part. (b) A person licensed as a public adjuster shall not misrepresent to a claimant that the person is an adjuster acting on beh…

(a) A person applying for a public adjuster license shall make application to the commissioner on the appropriate uniform application or other application prescribed by the commissioner. (b) The applicant shall declare, under penalty of perjury and under penalty of refusal, suspe…

(a) Before issuing a public adjuster license to an applicant under this part, the commissioner shall find that the applicant:(1) Is eligible to designate this state as the applicant's home state or is eligible for a license pursuant to § 56-6-908;(2) Has not committed any act tha…

(a) An individual applying for a public adjuster license under this part shall pass a written examination, unless exempt pursuant to § 56-6-907. The examination shall test the knowledge of the individual concerning the duties and responsibilities of a public adjuster and the insu…

(a) An individual who applies for a public adjuster license in this state who was previously licensed as a public adjuster in another state based on a public adjuster examination shall not be required to take or complete any prelicensing examination. This exemption is only availa…

(a) Unless denied licensure pursuant to § 56-6-910, a nonresident person shall receive a nonresident public adjuster license, if:(1) The person is currently licensed as a resident public adjuster and in good standing in the person's home state;(2) The person has submitted the pro…

(a) Unless denied licensure under this part, persons who have met the requirements of this part shall be issued a public adjuster license. (b) A public adjuster license shall remain in effect for a period of two (2) years, unless revoked, terminated or suspended. The commissioner…

(a) The commissioner may place on probation, cancel, terminate, suspend, revoke or refuse to issue or renew a public adjuster's license, or may levy a civil penalty, in accordance with this section, or any combination of actions, for any one (1) or more of the following causes:(1…

(a) Prior to issuance of a license as a public adjustor, and for the duration of the license, the applicant shall secure evidence of financial responsibility in a format prescribed by the commissioner through a surety bond and an errors and omissions insurance policy, or other se…

(a) An individual, who holds a public adjuster license and who is not exempt under subsection (b), shall satisfactorily complete a minimum of twenty-four (24) hours of continuing education courses, including ethics, reported on a biennial basis in conjunction with the license ren…

(a) A public adjuster may charge the insured a reasonable fee. If a contract between the public adjuster and the insured is formed before the insurance carrier has made an offer of settlement, then the public adjuster may not charge a fee that is greater than fifteen percent (15%…

(a) Public adjusters shall ensure that all contracts for their services are in writing and contain the following terms:(1) Legible full name of the adjuster signing the contract, as reflected in the records on file with the commissioner;(2) Permanent home state business address a…

A public adjuster who receives, accepts or holds any funds on behalf of an insured, towards the settlement of a claim for loss or damage, shall deposit the funds in a noninterest-bearing escrow or trust account in a financial institution that is insured by an agency of the federa…

(a) A public adjuster shall maintain complete records of each transaction as a public adjuster. The records required by this section shall include the following:(1) Name of the insured;(2) Date, location and amount of the loss;(3) Copy of the contract between the public adjuster …

(a) A public adjuster is obligated, under the public adjuster's license, to serve with objectivity and complete loyalty in the interest of the adjuster's client alone; and to render to the insured such information, counsel and service, as within the knowledge, understanding and o…

(a) A public adjuster shall report to the commissioner any administrative action taken against the public adjuster in another jurisdiction or by another governmental agency in this state within thirty (30) days of the final disposition of the matter. This report shall include a c…

The commissioner may make investigations necessary for the proper administration of this part. For the purpose of making investigations, the commissioner shall have inquisitorial powers and shall be empowered to subpoena witnesses and examine them under oath; provided, that all t…

The commissioner may promulgate regulations as are necessary or proper to carry out the purposes of this part. These regulations may include provisions relating to the assessment of licensure fees reasonable to defray the costs of examinations and testing of public adjusters. The…