Tenn. Comp. R. & Regs. 0780-01-82-.12

Current through June 26, 2024

Section 0780-01-82-.12 - INFORMATION PROVIDED TO INSUREDS

(1) To the extent applicable, every insurer or rate service organization shall, within a reasonable time after receipt of a written request and upon payment of a reasonable charge, furnish to any insured affected by a rate published by it, all pertinent information as to such rate. However, the insurer's obligation to furnish loss run history to an insured shall be consistent with the requirements of T.C.A. §56-5-323.

(2) For purposes of this Rule:

(a) A "reasonable time" means the later of thirty (30) days from the date of the receipt of the request or fourteen (14) days from the date of payment of the reasonable fee;

(b) A "reasonable charge" means a fee not to exceed twenty-five dollars ($25). However, with respect to loss sensitive plans the fee must not exceed fifty dollars ($50); and

(c) "Pertinent information" means the following:

1. The schedule rating worksheet if applicable to the insured;

2. The insured's experience modification worksheet and an explanation as to how the policyholder can obtain the National Council on Compensation Insurance's publication, "The ABC's of Experience Rating";

3. Applicable premium discount and small deductible tables if applicable; and

4. With respect to loss sensitive plans,

(i) The insurer's worksheets, including their loss rating model and the development of the insurance charges;

(ii) A statement as to how much the company has built in for claims and loss control expenses, profit, as well as general expenses and taxes; and

(iii) A detailed statement as to how the insurer arrived at the premium.

Tenn. Comp. R. & Regs. 0780-01-82-.12

Original rule filed December 11, 2007; effective February 24, 2008.

Authority: T.C.A. §§ 56-2-301 and 56-5-309(a) and (d).