Tennessee Senate Bill SB1369

Tennessee 2023-2024 Regular Session

• Introduced: 2/1/23
• Engrossed: 2/23/23
• Enrolled: 3/7/23
• Passed: 3/21/23
• Chaptered: 3/28/23

Caption

AN ACT to amend Tennessee Code Annotated, Title 56, Chapter 6, Part 1, relative to insurance producer prelicensing courses of study.

Impact

The proposed amendments to Tennessee Code Annotated impact the insurance industry by enhancing mobility for licensed insurance producers. By reducing the requirement for a licensing examination for those who have recently held a license in another state, the bill aims to improve the availability of qualified insurance providers in Tennessee. This modification could potentially lead to increased competition among insurance producers, ultimately benefiting consumers through greater choice and service diversity.

Summary

Senate Bill 1369 aims to modify the requirements for obtaining an insurance producer license in Tennessee. The bill amends existing legislation to allow individuals who were previously licensed in another state to obtain a license in Tennessee without taking an examination, provided they apply within ninety days of their previous license's cancellation. This change is designed to streamline the licensing process for insurance producers who relocate to Tennessee, thereby encouraging professionals to move into the state and maintain their careers without unnecessary barriers.

Sentiment

The sentiment surrounding SB 1369 appears to be supportive, with a notable majority voting in favor of its passage. This indicates a legislative understanding of the necessity to modernize and facilitate the licensing process within the insurance sector. Such changes are generally welcomed by industry stakeholders who advocate for measures that promote efficiency and accessibility in getting qualified professionals into the market.

Contention

While the bill passed with significant support, there may be underlying concerns regarding the prioritization of state mobility over standardized education and competency requirements for insurance producers. Critics might argue that eliminating the examination requirement could potentially compromise the quality of insurance services provided to Tennesseans if the standards of knowledge and skill are not maintained. Balancing the ease of obtaining a license with ensuring that insurance producers meet rigorous standards could lead to ongoing discussions about the efficacy of this legislation.