Tennessee Touts Insurance Market Growth; Cites $31M Recovered for Consumers

More than $31.4 million was located and returned to Tennesseans in combined life insurance benefits/annuities and monies returned through the department’s mediation efforts in 2019, according to the Tennessee Department of Commerce & Insurance (TDCI).

In all, TDCI said:

TDCI also reported that estimates from the NAIC show $44.8 billion premium volume was written by Tennessee insurance companies in 2019, making Tennessee No. 16 in the nation for premium volume.

“The insurance sector is an important and vital part of Tennessee’s economy, and I commend our team for their work balancing responsible oversight of the insurance industry with assisting stakeholders,” said TDCI Commissioner Hodgen Mainda. “When Tennesseans feel overwhelmed when it comes to questions about insurance policies and coverage, I urge them to remember that we are tireless advocates on behalf of consumers when it comes to answering questions and providing assistance.”

TDCI Assistant Commissioner Rachel Jrade-Rice added that filing a complaint or otherwise contacting department is always an option for policyholders if they are ever denied a claim or even if they have a question or concern about their insurance policies.

In addition, TDCI noted in 2019 that:

Source: Tennessee Department of Commerce & Insurance (TDCI)