Title 56, Insurance

(a) At every location where self-service storage insurance is offered to occupants, brochures or other written materials shall be made available that:(1) Disclose that self-service storage insurance may provide a duplication of coverage already provided by an occupant's homeowner…

(a) Notwithstanding any law to the contrary, the employees and authorized representatives of an owner may sell or offer self-service storage insurance to occupants and shall not be subject to licensure as an insurance producer under this part; provided, that:(1) The owner obtains…

(1) lf an owner or its employee or authorized representative violates this part, the commissioner is authorized to:(1) After notice and hearing, impose on a person licensed pursuant to this part civil penalties not to exceed five hundred dollars ($500) per violation and five thou…

(1) Notwithstanding any other law to the contrary:(1) An insurer may terminate or otherwise change the terms and conditions of a policy of self-service storage insurance only upon providing the policyholder and enrolled occupants with at least thirty (30) days written notice;(2) …

(a) A sworn application for a license under this part shall be made to and filed with the commissioner on forms prescribed and furnished by the department. (b) The application shall:(1) Provide the name, residence address and other information required by the department for an in…

(1) In addition to any other fees that may be required elsewhere in this title, the following are the nonrefundable fees that will be paid to the commissioner under this part:(1) Except as provided in subdivision (5), fifty dollars ($50.00) for the filing of an application for an…

Notwithstanding any other law to the contrary, there shall be no requirement that an insurance producer who is a resident of this state must countersign a policy of insurance written by an insurance company.

An insurance producer doing business under any name other than the producer's legal name is required to notify the commissioner prior to using the assumed name.

(a) The commissioner may, in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, promulgate reasonable regulations as are necessary or proper to carry out the purposes of this part. (b) The commissioner shall have the authority to promulgate…

(a) It is an unfair trade practice for an insurance producer to:(1) Hold the insurance producer out, directly or indirectly, to the public as a financial planner, investment adviser, consultant, financial counselor, risk manager or any other specialist engaged in the business of …

If any provisions of this part or the application of a provision to any person or circumstances is held invalid, the remainder of the part, and the application of the provision to persons or circumstances other than those to which it is held invalid, shall not be affected.

(1) For purposes of this part:(1) “Commissioner” means the commissioner of commerce and insurance;(2) “Exchange” means any health benefit exchange established or operating in this state, including any exchange established or operated by the United States department of health and …

No navigator shall sell, solicit or negotiate any policy of insurance, either within or outside of an exchange.

(1) The commissioner may:(1) Issue a cease and desist order to a navigator for violating state or federal law pertaining to an exchange; and(2) Seek injunctive relief against a navigator acting in violation of state or federal law pertaining to an exchange. (1) Issue a cease and …

The commissioner may promulgate such rules and regulations as may be necessary or appropriate to regulate the activities of navigators as may be consistent with the Patient Protection and Affordable Care Act (42 U.S.C. § 18011 et seq.).

If any provision of this part or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the part which can be given effect without the invalid provision or application, and to that end the provis…

This part is known and may be cited as the “Travel Insurance Producer Limited License Act.”

(1) As used in this part: (1) “Commissioner” means the commissioner of commerce and insurance;(2) “Designated responsible producer” or “DRP” means a person designated by a travel insurance supervising entity pursuant to § 56-6-1403(a)(2)(C);(3) “Insurer” has the same meaning as d…

(a) Notwithstanding any other law to the contrary:(1) Pursuant to the Tennessee Insurance Producer Licensing Act of 2002, compiled in part 1 of this chapter, the commissioner may issue to an individual or business entity that has filed with the commissioner an application in a fo…

Notwithstanding any other law, a travel retailer whose insurance-related activities, and those of its employees and authorized representatives, are limited to offering and disseminating travel insurance on behalf of and under the direction of a travel insurance supervising entity…

Travel insurance may be provided under an individual policy or under a group or master policy.

As the insurer designee, the travel insurance supervising entity is responsible for the acts of the travel retailer and shall use reasonable means to ensure compliance by the travel retailer with this part.

(a) The commissioner may take any action or combination of actions authorized pursuant to § 56-2-305 or § 56-6-112 against any limited lines travel insurance producer, travel insurance supervising entity, or travel retailer licensed or approved pursuant to this part. (b) If the c…

(a) In addition to other powers permitted to banks by title 45, a state bank may own, operate or manage an insurance company offering only surety insurance, as defined in § 56-2-201(6)(E). (b) An insurance company owned by a bank shall comply with all Tennessee law applicable to …

(1) Insurance agents licensed in this state may charge, receive and collect on the principal balance of unpaid insurance and bond premiums a time-price differential not to exceed the rate now provided for retail merchants under the Retail Installment Sales Act, compiled in title …

The time-price differential provided for in this part shall be computed in the same manner as is provided in the Retail Installment Sales Act, as set out in § 47-11-103(d).

(1) In the event time-price differential charges are made pursuant to this part, the purchaser of insurance must agree to the charges in writing, and the instrument must contain: (1) The cash price of the insurance policy or bond and the amount of the initial payment, if any; (2)…

The buyer of insurance may prepay in full at any time before maturity the unpaid balance due, and in so paying the unpaid balance, shall receive a refund credit as provided under § 47-11-103(h).

No agent shall make time-price differential charges in excess of the schedule provided in this part, and willful violation of this part is a Class C misdemeanor.

Time-price differential transactions as described in this part shall not be deemed to be loans or forbearances of money or things of value or the making of the loans or forbearances, nor shall they be regulated by or subject to title 45, chapter 5.

This part does not apply to agents who finance premiums through a Tennessee corporation, or a corporation domesticated to transact business in Tennessee, that is either an insurer, a subsidiary of an insurer or owned by a group of insurers, and that confines its business to the f…

(1) As used in this part, “administrator” means any person, company, corporation, partnership, association or other legal entity that collects charges or premiums from, or that adjusts or settles claims on, residents of this state in connection with life or health insurance cover…

(a) No administrator shall act as administrator without a written agreement between the administrator and the insurer, and the written agreement shall be retained as part of the official records of both the insurer and the administrator for the duration of the agreement and five …

Whenever an insurer utilizes the services of an administrator under the terms of a written contract as required in § 56-6-402, the payment to the administrator of any premiums or charges for insurance by or on behalf of the insured shall be deemed to have been received by the ins…

(a) Every administrator shall maintain at its principal administrative office, for the duration of the written agreement referred to in § 56-6-402 and five (5) years thereafter, adequate books and records of all transactions between it, insurers and insured persons. The books and…

An administrator may use only advertising pertaining to the business underwritten by an insurer that has been approved by the insurer in advance of its use.

(1) All insurance charges or premiums collected by an administrator on behalf of or for an insurer or insurers, and return premiums received from the insurer or insurers, shall be held by the administrator in a fiduciary capacity. The funds shall be immediately remitted to the pe…

All claims paid by the administrator from funds collected on behalf of the insurer shall be paid only on drafts, checks or electronic transfers of and as authorized by the insurer.

(a) With respect to any policies where an administrator adjusts or settles claims, the compensation to the administrator with regard to the policies shall in no way be contingent on claim experience. (b) This section shall not prevent the compensation of an administrator from bei…

(a) Where the services of an administrator are utilized, the administrator shall provide a written notice approved by the insurer, to insured individuals, advising them of the identity of and relationship among the administrator, the policyholder and the insurer. (b) Where an adm…

(a) No person shall act as, or hold out to be, an administrator in this state, other than an adjuster licensed in this state for the kinds of business for which the person is acting as an adjuster, unless the person holds a license as an administrator issued by the commissioner. …

(1) The commissioner may waive the requirements of § 56-6-410 for any person or class of persons. The factors taken into account in granting the waiver shall include, but not be limited to:(1) Whether the person acting as an administrator is primarily in a business other than tha…

This part shall not be applicable to those trusts regulated by the federal government.

This part is known and may be cited as the “Managing General Agents Act.”

(1) As used in this part, unless the context otherwise requires:(1) “Actuary” means a person who is a member in good standing of the American Academy of Actuaries;(2) “Insurer” means any person, firm, association or corporation duly licensed in this state as an insurance company …

(a) No person shall act in the capacity of an MGA, with respect to risks located in this state for an insurer licensed in this state, unless the person is a licensed insurance agent in this state. (b) No person shall act in the capacity of an MGA representing an insurer domiciled…