Tennessee House Bill HB0719

Tennessee 2023-2024 Regular Session

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

Caption

AN ACT to amend Tennessee Code Annotated, Title 4; Title 8; Title 56; Title 63; Title 68 and Title 71, relative to insurance.

Impact

If passed, the amendment will introduce a new compliance timeline that may affect insurers, policyholders, and regulatory bodies. By extending the notice period, the bill seeks to provide greater leeway for insurance companies in their administrative processes without compromising the rights of consumers. This change could enhance operational flexibility for insurers while maintaining adequate notification to stakeholders affected by insurance decisions.

Summary

House Bill 0719 aims to amend specific sections of the Tennessee Code Annotated, particularly in Titles 4, 8, 56, 63, 68, and 71, which pertain to various aspects of insurance regulation. A notable adjustment proposed in this legislation is the extension of the timeline from fifteen (15) days to twenty (20) days for certain insurance-related notices or actions. This alteration reflects a broader goal of refining regulatory timelines to improve efficiency within the insurance industry in Tennessee.

Contention

While the specifics of discussions around HB 0719 remain scarce, typically such amendments may draw criticism regarding their implications for consumer rights and oversight. Legislators often debate the balance between easing regulatory pressures for businesses versus ensuring that consumer interests are not sidelined. Proponents might argue that the additional notice period allows for better administrative processes, while opponents might claim that it could potentially delay consumer access to critical information.