Tenn.: New Bill Empowers Insurance Department

The House approved a bill on Monday that would allow the Tennessee Department of Commerce and Insurance to levy fines against insurance companies who violate state laws or rules governing them.

Rep. Rob Briley, the bill’s sponsor, said there are only two ways the department can currently handle companies who violate laws and rules.

“One way is to do nothing,” Briley, D-Nashville, said. “The other way is to revoke their license. This creates a sort of middle ground.”

The Senate approved a version of the bill on Wednesday, but must agree to a change made by the House. Gov. Phil Bredesen could not be reached for comment about whether he will sign the bill.