Plain English Breakdown
The official summary does not provide specific details about the types of personal risk insurance affected or additional filing requirements for supplementary rate information and supporting documents.
Changing Insurance Filing Time
This bill changes how long insurance companies have to file certain information with the state before making changes to their policies.
What This Bill Does
- Reduces the time insurance companies must give the state before changing rates and policy forms from 30 days to 21 days.
Who It Names or Affects
- Insurance companies that offer personal risk insurance in Tennessee
- The commissioner of commerce and insurance in Tennessee
Terms To Know
- personal risk insurance
- Insurance for things like cars, homes, or other personal property.
Limits and Unknowns
- The bill does not specify how this change will affect consumers.
- It is unclear if there are any exceptions or special cases for the new filing requirement.