WeVote
Log In

Bill

Bill

HB 705

Insurance Companies, Agents, Brokers, Policies - As introduced, changes, from June 1 to July 1, the date by which an insurer or insurance group must submit its disclosure to the commissioner of commerce and insurance as required under the Corporate Governance Annual Disclosure Act. - Amends TCA Title 56.

114th Regular Session (2025-2026) Introduced by Ron Gant

HB 705 extends Tennessee insurers' annual corporate governance disclosure deadline from June 1 to July 1, giving companies one additional month to submit required documentation to state regulators.

H. adopted am. (Amendment 1 - HA0828)
#agents #brokers #insurancecompanies #policies
0
WeVote Research Nonpartisan
Bill Summary · HB 705

Legislative bill overview

HB 705 delays the annual corporate governance disclosure deadline for insurance companies and groups in Tennessee from June 1 to July 1. This is a one-month extension for when insurers must submit required disclosures to the state's Commissioner of Commerce and Insurance under existing corporate governance transparency requirements.

Why is this important

Insurance regulatory compliance deadlines affect operational planning for insurance companies doing business in Tennessee. A one-month extension can reduce administrative burden and provide more time for documentation preparation, though it also delays state oversight reviews by a similar period. This impacts how quickly regulators can assess corporate governance practices across the insurance industry.

Potential points of contention

  • Regulatory oversight delays: Moving the deadline back means the state commissioner receives disclosure information one month later, potentially delaying identification of governance issues
  • Burden justification: Stakeholders may question whether one additional month meaningfully reduces compliance costs or if this primarily benefits larger insurers with better resources
  • Competitive consistency: The change applies uniformly to all insurers, but smaller insurers may have different capacity needs than large multistate carriers

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.