Insurance Companies, Agents, Brokers, Policies - As enacted, increases from $100,000 to $250,000 the retained risk limit for a single risk covered by a policy of insurance issued by a county mutual insurance company. - Amends TCA Title 56, Chapter 22.

Summary

The bill changes Tennessee law to allow county mutual insurance companies to keep up to $250,000 of risk on a single policy, up from $100,000. This affects the insurers and their policyholders by giving insurers more capacity to retain risk. The change is intended to give these local insurers greater flexibility in managing their risk exposure.

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