Tennessee Commissioner of Insurance
|Tennessee Commissioner of Insurance|
|Office website:||Official Link|
|2011-2012 FY Budget:||$9,951,200|
|Authority:||Tennessee Code, Title 56, Chapter 1, Part 2|
|Selection Method:||Appointed by Governor|
|Assumed office:||January 2011|
|Other Tennessee Executive Offices|
|Governor • Lieutenant Governor • Secretary of State • Attorney General • Comptroller • Treasurer • Superintendent of Education • Agriculture Commissioner • Insurance Commissioner • Natural Resources Commissioner • Labor Commissioner • Public Service Commission|
The commissioner is head of the Department of Commerce and Insurance. The insurance division is in charge of enforcing the state's insurance laws and supervising insurance companies and other licensed entities in the state.
The current officeholder is Julie McPeak.
The Department of Commerce and Insurance, with the commissioner as its chief officer, is established in Title 56, Chapter 1, Part 2 of the Tennessee code.
56-1-201: Creation of department of commerce and insurance
|There is created a department of commerce and insurance, whose chief officer is the commissioner.|
Title 56, Chapter 1, Part 2 of the Tennessee code requires that "the commissioner shall not be financially interested, directly or indirectly, in any insurance corporation subject to the supervision of the department."
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The commissioner is granted, under Tennessee insurance law, certain powers:
- power to inquire into any violation of the state's insurance laws
- powers to examine any person under oath, and to compel production of books, records, or papers relative to the inquiry
- authority to regulate health insurers
- The Division of Consumer Affairs is charged with the enforcement of the Tennessee Consumer Protection Act and mediates or otherwise resolves more than 6,000 consumer complaints per year.
- The Division of Insurance regulates the 1,600 insurance companies and 90,000 agents that contribute more than $14 billion to the state's economy.
- The Securities Division regulates brokers-dealers, agents, investment advisers, and investigates fraud.
- The TennCare Oversight Division monitors the financial condition and timely payment practices of the health maintenance organizations and behavioral health organizations that contract to provide services to 1.4 million TennCare enrollees.
- The Division of Fire Prevention includes the state's building and safety codes enforcement operations, arson and explosives investigations, and offers training for volunteer and career firefighters and codes officials through the state's Fire Service and Codes Enforcement Academy.
- The Division of Regulatory Boards houses 22 boards and commissions that enforce professional standards of conduct and statutory mandates for industries ranging from architects and engineering to contracting, cosmetology, and accounting.
The budget for the Division of Insurance in Fiscal Year 2011-2012 was $9,951,200.
- See also: Compensation of state executive officers
Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders. That information for the Tennessee Commissioner of Insurance has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.
This section displays the most recent stories in a google news search for the term Tennessee + Commissioner + of + Insurance
- All stories may not be relevant to this page due to the nature of the search engine.
- Memphis-area cemetery owner charged with burying multiple bodies in same ... - The Republic
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Tennessee Department of Commerce and Insurance
500 James Robertson Parkway
Davy Crockett Tower
Nashville, TN 37243-0565
Phone: (615) 741-2241
- Tennessee Department of Commerce and Insurance
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- Tennessee Department of Commerce and Insurance, " Insurance Division," access December 28, 2012
- Tenn. Code Ann. § 56-1-203, accessed October 28, 2011
- TN.gov, "Department of commerce and insurance: What we do," accessed October 27, 2011
- Tennessee Department of Finance and Administration, "The Budget, Fiscal Year 2013-2014," accessed April 8, 2013
- Council of State Governments, "SELECTED STATE ADMINISTRATIVE OFFICIALS: ANNUAL SALARIES," January 28, 2014