NASHVILLE – The Tennessee Department of Commerce and Insurance (TDCI) proudly announces that its insurance division has recently received reaccreditation from the National Association of Insurance Commissioners (NAIC).
As part of the state-based system of insurance regulation in the United States, the NAIC provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. Every five years, state insurance departments must undergo comprehensive, independent reviews through the NAIC’s Accreditation Program to ensure that departments meet financial solvency oversight standards, particularly with respect to regulation of multi-state insurers.
“The NAIC’s reaccreditation of Tennessee gives policyholders confidence that our domestic insurance companies are being continually analyzed under a robust, risk-focused approach that results in more financially sound insurance companies operating in our state,” said TDCI Commissioner Carter Lawrence. “Tennessee insurance companies can conduct business knowing their insurance industry is well regulated in conformance with national and state standards and best practices while maintaining a level playing field. I congratulate our team for their diligence and hard work during the reaccreditation process.”
Tennessee's insurance sector continues to grow and boost the Volunteer State’s overall economy. As the insurance regulator in Tennessee, TDCI is playing a vital role in that growth.
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Tennessee currently boasts 327,685 active licensed insurance producers, of which 52,385 are resident insurance producer licenses and 275,300 are non-resident licensees, which is the largest number of active licensed insurance professionals in state history.
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Insurance companies that are domiciled or headquartered in Tennessee wrote $24 billion in premium volume in 2024 (the most recent year that figures are available).
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$67 billion in premium volume was written in Tennessee in 2024 by all insurance companies doing business in Tennessee.
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Tennessee ranks 13th in total domestic and foreign insurers licensed in the state and 15th in health premium as reported in NAIC annual statement filings.
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Meanwhile, the cost of regulation in Tennessee is $0.30, based on an Insurance Department budget per $1,000 in written premium.
