Amends TCA Title 56.
Tennessee SB1049 amends Title 56 of the Tennessee Code Annotated to require insurance companies to provide 45 days' notice, instead of the current 30 days, to customers who have their premiums paid through bank draft or preauthorized check when there is an increase in premiums. This change specifically affects policyholders utilizing these payment methods. The key provision of the bill is the extension of the notification period for premium increases, allowing customers more time to adjust to the changes.
Tennessee SB1049 amends Title 56 of the Tennessee Code Annotated to require insurance companies to provide 45 days' notice, instead of the current 30 days, to customers who have their premiums paid through bank draft or preauthorized check when there is an increase in premiums. This change specifically affects policyholders utilizing these payment methods. The key provision of the bill is the extension of the notification period for premium increases, allowing customers more time to adjust to the changes.
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