Amends TCA Title 56, Chapter 22.
Tennessee SB2601 amends TCA Title 56, Chapter 22 by increasing the retained risk limit for a single risk covered by a policy of insurance issued by a county mutual insurance company from $100,000 to $250,000. This change affects county mutual insurance companies and their policyholders by allowing for a higher amount of risk retention. The key provision of the bill is the adjustment of the financial threshold for retained risk, which may impact the underwriting practices and financial stability of these insurance entities.
Tennessee SB2601 amends TCA Title 56, Chapter 22 by increasing the retained risk limit for a single risk covered by a policy of insurance issued by a county mutual insurance company from $100,000 to $250,000. This change affects county mutual insurance companies and their policyholders by allowing for a higher amount of risk retention. The key provision of the bill is the adjustment of the financial threshold for retained risk, which may impact the underwriting practices and financial stability of these insurance entities.
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