HB2203 - Tennessee - Commerce And Insurance, Dept. Of, Insurance Companies, Agents, Brokers, Policies

Companion Bill SB1565. Insurance Companies, Agents, Brokers, Policies - Adjusts for inflation all the monetary civil penalties assessed by the commissioner for unfair competition and deceptive acts committed by a person in the business of insurance. - Amends TCA Title 56, Chapter 8, Part 1. Fiscal Summary for HB2203 / *SB1565Increase State Revenues - Not Significant Bill Summary for HB2203 / *SB1565 Under present law, if the commissioner of commerce and insurance determines that a person charged has engaged in unfair methods of competition or unfair or deceptive acts or practices in the business of insurance or has violated the provisions governing lenders and insurance, then the commissioner may, in addition to issuing an order to cease and desist, order the payment of a civil penalty of not more than $1,000 for each and every act or violation,[...]

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