Senate Bill 1270 amends various sections of the Tennessee Code Annotated, primarily focusing on insurance regulations. A significant addition is the establishment of a new section requiring health benefit plan issuers to provide a claims experience report within thirty days of a written request from a plan, plan sponsor, or plan administrator. This report must include detailed information such as aggregate paid claims, total premiums, and the number of covered employees, among other data. Additionally, the bill stipulates that a supplemental report must be provided after the termination of coverage to update any information not included in the original report.

The bill also includes several amendments to existing sections, such as changing the term "active" to "inactive" in one section and modifying various definitions and requirements related to insurance policy forms and letters of credit. Notably, it clarifies that coverage of farm risks by commercial risk insurance policies will not affect the classification of property as agricultural under other laws. The bill's provisions will take effect at different times, with some sections becoming law immediately, while others will take effect in 2025 and 2026.

Statutes affected:
Introduced: 56-2-208(b)(6)(F)(vi)(c), 56-2-208, 56-2-208(b)(8)(C)(iii), 56-2-208(b)(8)(D), 56-2-208(b)(10), 56-2-208(b)(11)(B)(ii), 56-2-208(b)(11)(C), 56-2-209(a)(2), 56-2-209, 56-2-209(a)(2)(C), 56-2-209(b), 56-2-209(c), 56-2-209(g)(4), 56-5-102(7), 56-5-102, 56-7-1605(a), 56-7-1605, 56-7-1605(b)(1), 56-7-1605(c), 68-1-115