Tennessee: Unfair Trade Practices Act Passes

SB 4208, the Unfair Trade Practices and Unfair Claims Settlement Act of 2008, passed the House May 13 and is now headed to the governor’s desk.

The bill was introduced at the behest of the Department of Commerce and Insurance, which sought input from the industry throughout the summer and fall of 2007. Liz Reynolds, NAMIC's Southeast state affairs manager, participated in several meetings, along with NAMIC-member company representatives and others, as negotiations over specific language in the bill took place.

“The department really made an effort to thoroughly discuss the intent of the legislation and ensure bill language is appropriate,” noted Reynolds. “Many industry-suggested changes were incorporated into SB 4208.”

Direct questions to NAMIC State Affairs Manager Liz Reynolds.

Posted: Tuesday, May 20, 2008 12:00:00 AM. Modified: Tuesday, May 20, 2008 2:48:36 PM.

(317) 875-5250 - Indianapolis | (202) 628-1558 - Washington, D.C.

Contact NAMIC | Press | Advertise | Sponsor

We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.