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State statute · Tennessee

Rates and Rating Organizations

Tenn. Code Ann. tit. 56, ch. 5

Publisher
Justia
Edition
2025 Tennessee Code as published by Justia, one page per section fetched 2026-10-04....
Last checked
2026-10-04
Status
Tennessee Code text is a government edict
Edition and licensing notes

Publisher. Justia (law.justia.com), 2025 Tennessee Code

Edition. 2025 Tennessee Code as published by Justia, one page per section fetched 2026-10-04. Newest free edition; 2026 session acts are not reflected.

Status. Tennessee Code text is a government edict.

Read the official textPractice questions from this source

What this document is

Tenn. Code Ann. tit. 56, ch. 5 - Rates and Rating Organizations is a state statute published by Justia (law.justia.com), 2025 Tennessee Code. It is one of the Tennessee documents that insurance license exam questions are written from, including tennessee property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

  • Tenn. Code Ann. § 56-5-106(a)(1) (Commercial risk filings; inland marine)
    “provided, that the rates, supplementary rate information, policy forms and endorsements need not be filed for inland marine risks that by general custom of the business are not written according to manual rules of rating plans”
  • Tenn. Code Ann. § 56-5-102(12) (Part definitions; “Residual market mechanism”)
    ““Residual market mechanism” means an arrangement, either voluntary or mandated by law, involving participation by insurers in the equitable apportionment among them of insurance that may be afforded applicants who are unable to obtain insurance through ordinary methods”
  • Tenn. Code Ann. § 56-5-107(b) (Consent to rate)
    “upon written application of an insured, stating specific reasons why a risk requires higher than standard rates on file by an insurer, a rate in excess of that provided by a filing otherwise applicable may be used on a specific risk. An endorsement shall be attached to the policy, giving the...”
  • Tenn. Code Ann. § 56-5-107(c) (Residual market mechanism filings)
    “No filing, whether personal or commercial risk, shall be used for a residual market mechanism until it has become effective pursuant to § 56-5-105”
  • Tenn. Code Ann. § 56-5-105(d)(1) (Filing by personal risk insurers; deemed effective)
    “A filing shall be deemed to meet the requirements of this part and to become effective unless disapproved by the commissioner before the expiration of the waiting period or an extension of the waiting period”
  • Tenn. Code Ann. § 56-5-102(7)(D) (Part definitions; “Personal risk insurance”)
    “Insurance on private passenger nonfleet motor-driven vehicles, not used for hire, which are used for personal, farm, or family needs”
  • Tenn. Code Ann. § 56-5-103(c) (Standards; inadequacy)
    “A rate is not inadequate unless the rate is clearly insufficient to sustain projected losses and expenses in the class of business to which it applies and the use of the rate has or, if continued, will have the effect of substantially lessening competition or the tendency to create a monopoly”
  • Tenn. Code Ann. § 56-5-104(2) (Criteria for compliance; classification)
    “Risks may be classified in any reasonable way for the establishment of rates except that no risks may be grouped by classifications based in whole or in part on race, color, creed, or national origin of the risk”
  • Tenn. Code Ann. § 56-5-106(b)(1) (Commercial risk; exempt coverages)
    “The following insurance coverages are exempt from filing requirements with respect to rates, supplementary rate information, policy forms, and endorsements, where applicable under this chapter, whether the insurance coverage is endorsed to or sold as a stand-alone policy: (A) Boiler and machinery;...”
  • Tenn. Code Ann. § 56-5-106(e) (Workers' compensation multipliers; certification)
    “All multipliers filed pursuant to subsection (d) shall be actuarially justified and shall be certified by a member in good standing of the Casualty Actuarial Society”
  • Tenn. Code Ann. § 56-5-106(d) (Workers' compensation multipliers; application)
    “Multipliers shall apply to the most recently approved, currently effective advisory prospective loss cost”
  • Tenn. Code Ann. § 56-5-202(4) (Restrictions on use of credit scores)
    “Deny, cancel or nonrenew a policy of personal insurance solely on the basis of credit information, without consideration of any other applicable underwriting factor independent of credit information”

Practice this material

Tennessee Property & Casualty practice test

Questions about this source

Tenn. Code Ann. tit. 56, ch. 5 - Rates and Rating Organizations is a state statute published by Justia (law.justia.com), 2025 Tennessee Code. Edition: 2025 Tennessee Code as published by Justia, one page per section fetched 2026-10-04. Newest free edition; 2026 session acts are not reflected..

No. This page summarizes the document and links to the official version. Always rely on the text published by Justia (law.justia.com), 2025 Tennessee Code for the current law.

Practice questions for Tennessee Property & Casualty cite this document.

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