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SB1049 • 2026

Insurance Companies, Agents, Brokers, Policies

AN ACT to amend Tennessee Code Annotated, Title 56, relative to insurance.

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Southerland
Last action
2025-02-12
Official status
Passed on Second Consideration, refer to Senate Commerce and Labor Committee
Effective date
Not listed

Plain English Breakdown

The official summary does not provide details on how the bill updates Tennessee law beyond changing the notice period.

Insurance Notice Requirements

This bill changes the notification period for premium increases from 30 to 45 days for customers with automatic payments.

What This Bill Does

  • Changes the time an insurance company needs to give notice before increasing premiums from 30 days to 45 days when a customer's account is set up with automatic payments.

Who It Names or Affects

  • Insurance companies in Tennessee
  • Customers who pay their insurance premiums automatically

Terms To Know

Premiums
The amount of money a customer pays for an insurance policy.
Bank draft
An automatic payment from a bank account to pay bills or other charges.

Limits and Unknowns

  • Does not specify what happens if the notice is given late.
  • The bill has not yet become law and needs further steps before it takes effect.

Bill History

  1. Date Tennessee General Assembly

  2. 2025-02-12 Tennessee General Assembly

    Passed on Second Consideration, refer to Senate Commerce and Labor Committee

  3. 2025-02-10 Tennessee General Assembly

    Introduced, Passed on First Consideration

  4. 2025-02-05 Tennessee General Assembly

    Filed for introduction

Official Summary Text

Abstract summarizes the bill.

Current Bill Text

Read the full stored bill text 
<BillNo> <Sponsor>

SENATE BILL 1049
By Southerland

SB1049
003259
- 1 -

AN ACT to amend Tennessee Code Annotated, Title 56,
relative to insurance.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 56-7-118, is amended by deleting
"thirty (30) days' notice" and substituting "forty-five (45) days' notice".
SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.