House Bill 476 proposes amendments to the Tennessee Code Annotated concerning insurance regulations. Specifically, it increases the maximum compensation limits for certain insurance claims. In Section 1, the bill raises the limit from fifty thousand dollars ($50,000) to one hundred thousand dollars ($100,000) in Tennessee Code Annotated, Section 50-6-404(a)(1). Additionally, Section 2 increases the limit from one hundred thousand dollars ($100,000) to two hundred thousand dollars ($200,000) in Section 50-6-404(b).

The bill is set to take effect on January 1, 2026, emphasizing the need for these changes to enhance the welfare of the public. By raising these compensation limits, the bill aims to provide greater financial protection for individuals covered under these insurance policies.

Statutes affected:
Introduced: 50-6-404(a)(1), 50-6-404, 50-6-404(b)