Tennessee House Bill HB0718

Tennessee 2023-2024 Regular Session

• Introduced: 1/27/23
• Refer: 2/22/23

Caption

AN ACT to amend Tennessee Code Annotated, Title 8; Title 56 and Title 71, relative to insurance.

Impact

If enacted, HB0718 will have a straightforward effect on state law, primarily adjusting the minimum required notice period within the realm of insurance. This change may influence the operational procedures of insurance providers, requiring them to update their communication protocols to comply with the new thirty-five-day notice requirement. While the immediate impact on consumers may appear limited, the intent behind the amendment may suggest a broader push towards improving policy holder awareness and satisfaction.

Summary

House Bill 718 (HB0718) seeks to amend specific sections of the Tennessee Code Annotated, specifically within Titles 8, 56, and 71, which pertain to insurance regulations. The principal amendment involves changing the notice period required in insurance practices from thirty (30) days to thirty-five (35) days. This minor adjustment reflects an effort to enhance communication and transparency related to insurance policies and practices throughout the state.

Contention

Discussions surrounding HB0718 are not heavily documented within the provided sources, indicating that while the bill proposes a specific regulatory change, it has not sparked significant debate. However, any changes in notice periods can lead to discussions about best practices in consumer rights and protection within the insurance industry. Stakeholders might argue about the necessity and implications of such a change, though the relatively trivial nature of the amendment may have limited the volume of contention.

Notable_points

Overall, HB0718 appears to be a regulatory bill aimed at adjusting existing requirements without introducing significant controversy. The modest increase in the notice period shows a legislative inclination towards refining the interaction between insurance providers and policyholders, although additional scrutiny and feedback from industry experts and consumers may be warranted to fully assess the potential ramifications of this change.