50-State Financial Services Licensing Compliance Guide
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Tennessee Finance Licensing

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Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in Tennessee.

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Company Licenses

Tennessee Financial Services Company Licenses

Tennessee Business Entity Producer License - Non-Resident

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

Determined by Retalitory Fee. See this page

Registration Renewal

Filing Method:

Online

Agency Fee:

Determined by Retalitory Fee. See this page. 

Due:

Biennially by the date of issuance.

Tennessee Business Entity Producer License - Resident

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$50

Registration Renewal

Filing Method:

Online

Agency Fee:

$60

Due:

Biennially by the date of issuance.

Tennessee Collection Agency Branch Office License

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$100 registration fee + $25 for each solicitor.

Registration Renewal

Filing Method:

Online

Agency Fee:

$350 renewal fee + $25 for each solicitor.

Due:

Biennially by the date of issuance.

Tennessee Collection Agency License

Agency:Tennessee Department of Commerce and Insurance
Bond Requirements:

$15,000 for agencies with 1-4 certified employees, $20,000 for agencies with 5-9 certified employees, and $25,000 for agencies with 10 or more certified employees.

Initial Registration

Filing Method:

Online

Agency Fee:

$750 application fee + $600 registration fee and $25 for each solicitor after the license is approved.

Registration Renewal

Filing Method:

Online

Agency Fee:

$350 renewal fee + $25 for each solicitor.

Due:

Biennially by the date of issuance.

Amendment

Agency Fee:

$0

Notes:

Changes to an agency's address should be emailed to Collection.Service@TN.Gov along with an amended surety bond and corporate bond.

Reinstatement

Agency Fee:

$100 late renewal fee + standard renewal fees.

Notes:

Expired licenses can be reinstated for up to 60 days after the expiration date. Licenses expired for more than 60 days cannot be reinstated and the license holder must reapply.

Tennessee External Review Registration

Type of Review:

Medical Utilization Review

Agency:Tennessee Department of Commerce and Insurance
Law:

TN Code § 56-61-120

Registered Agent (Special Agency) Required?Yes

Initial Registration

Form:

External Review Organizations Application Packet

Agency Fee:

$500 for accredited entities and $1,500 for unaccredited entities.

Required Attachments:

See the application form for a detailed list of attachments.

Registration Renewal

Form:

External Review Organizations Application Packet (Renewal)

Agency Fee:

$500 for accredited entities and $1,500 for unaccredited entities.

Due:

Biennially by the registration anniversary date.

Tennessee Industrial Loan and Thrift Registration

Agency:Tennessee Department of Financial Institutions - Compliance Division
Law:

TN Code § 45-5-103

Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

New Application

Filing Method:

Online

Agency Fee:

$600

Registration Renewal

Filing Method:

Online

Agency Fee:

$600 renewal fee + $100 processing fee

Due:

Annually by December 31.

Supplemental Reporting

Agency Fee:

$0

Due:

Annually by July 31.

Law:

TN Code § 45-5-503

Notes:

Each registrant shall file an annual report with the commissioner by July 31 of each year, containing the following information:

 

  • The names and addresses of persons owning controlling interest in the registrant;
  • The location of all places of business operated by the registrant and the nature of the business conducted at each location;
  • The names and addresses of all affiliated lenders and affiliated insurance companies doing business in this state;
  • Balance sheets, statements of income and expense, summaries of the types of loans made, and other statistical information that may reasonably be required by the commissioner, consistent with generally accepted accounting practices, for the purpose of determining the general results of operations under this chapter; and
  • If the registrant is a corporation, the names and addresses of its officers and directors, or if the registrant is a partnership, the names and addresses of the partners.

Tennessee Insurance Agency License

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

This section applies to insurance firms that are applying for a license in Tennessee for the first time.

Agency:Tennessee Department of Commerce and Insurance
Form:

https://www.tn.gov/commerce/insurance/agent-producer-resources/licensing-packets-instructions-forms.html

Agency Fee:

Varies by insurance type. Baseline of $50

Registration Renewal

This section applies to insurance firms that are already licensed in Tennessee and need to renew their license.

Agency:Tennessee Department of Commerce and Insurance
Form:

https://www.tn.gov/commerce/insurance/agent-producer-resources/licensing-packets-instructions-forms.html

Agency Fee:

Varies by insurance type. Baseline of $50

Tennessee Public Adjuster Business Entity License - Non-Resident

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$100

Registration Renewal

Filing Method:

Online

Agency Fee:

$200

Due:

Biennially by the date of issuance.

Tennessee Public Adjuster Business Entity License - Resident

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$100

Registration Renewal

Filing Method:

Online

Agency Fee:

$200

Due:

Biennially by the date of issuance.

Tennessee Third Party Administrator License

Agency:Tennessee Department of Commerce & Insurance - Licensing & Regulations
Foreign Qualification is Prerequisite:Yes
Financial Requirements:

Must be no more than six (6) months older than the date of application submission.

Must be audited by a Certified Public Accountant or attested to by a company officer. If attested, the attestation must refer to the financial statements by date (i.e., “the balance sheet and income statement for the period ending December 31, 2008 are true and correct”). The attestation must bear original signatures and be notarized. Copies of attestations are not accepted.

Must be in the name of the TPA applicant seeking the Administrator license. We accept consolidated
statements if they state separately the amounts of the applicant.

Registered Agent (Special Agency) Required?No

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

Annually by date of issuance. 

Required Attachments:

Letter of intent to renew, proof of Fidelity Bond, financial statements, List of exact names of Insurance Companies Licensed in Tennessee (along with the NAIC Company Code number) that your company is administering for in the State of Tennessee, and any Amendments to the Previous License Filings. Please submit original NAIC Biographical Affidavits for any new officers or directors.
license

Tennessee Utilization Review Organization Registration

Type of Review:

Workers' Compensation

Agency:Tennessee Department of Labor & Workforce - Bureau of Workers' Compensation
Law:

TN Admin Code 0800-02-06-.02

Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Form:

Form C-39: Provider Registration for Utilization Review

Agency Fee:

$0

Required Attachments:
  • A copy of the “Approved” certification letter, issued by the Tennessee Department of Commerce and Insurance
  • Proof of all certifications listed on the application

Renewal Not Required

Not required



Tennessee Utilization Review Registration

Type of Review:

Medical Utilization Review

Agency:Tennessee Department of Commerce and Insurance
Law:

TN Code § 56-6-704 

Initial Registration

Form:

Utilization Review Application Packet

Agency Fee:

$1,000

Registration Renewal

Form:

Utilization Review Application Packet (Renewal)

Agency Fee:

$1,000

Due:

Annually by July 1.

Individual Licenses

Tennessee Individual Financial Services Licenses

Tennessee Individual Insurance Producer License

Agency:Tennessee Department of Commerce and Insurance - Insurance Division

Initial Registration

Filing Method:

Online

Agency Fee:

$50 for resident producers, non-residents pay a retaliatory fee based on their home state.

Registration Renewal

Filing Method:

Online

Agency Fee:

Residents pay $60 for major lines of authority and $30 for limited lines of authority. 

Due:

Biennially by the end of the licensee's birth month.

Tennessee Insurance Agent License

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

This section applies to insurance agents that are applying for a license in Tennessee for the first time.

Agency Fee:

From $50 to $120 depending on license type

Tennessee Insurance Producer License - Non-Resident

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

Non-resident producers pay a retaliatory fee based on their home state.

Registration Renewal

Filing Method:

Online

Agency Fee:

Varies by home state. See this page for retaliatory fee details.

Due:

Biennially by the end of the licensee's birth month.

Tennessee Insurance Producer License - Resident

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$50

Registration Renewal

Filing Method:

Online

Agency Fee:

$60

Due:

Biennially by the end of the licensee's birth month.

Tennessee Public Adjuster License - Non-Resident

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$100

Registration Renewal

Filing Method:

Online

Agency Fee:

$100

Due:

Biennially by the end of the licensee's birth month.

Tennessee Public Adjuster License - Resident

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$100

Tennessee Surplus Lines Agent License - Non-Resident

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$120

Due:

Biennially by the end of the licensee's birth month.

Tennessee Surplus Lines Agent License - Resident

Agency:Tennessee Department of Commerce and Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$120

Registration Renewal

Filing Method:

Online

Agency Fee:

$120

Due:

Biennially by the end of the licensee's birth month.

Explore licensing in other states:

Adjuster - A person or firm that is paid to adjust, investigate, and negotiate claim settlements. There are 3 categories of adjusters: company, independent, and public. Company adjusters work for insurance companies and investigate claims on behalf of the company. Independent adjusters investigate claims on a contractual basis for insurance companies. Public adjusters investigate claims on behalf of claimants, usually to determine the amount of money that can be claimed.

Agent in Charge - A licensed individual responsible for the supervision of all individuals within an insurance agency. The agent in charge must be licensed in the same lines as the agency.

Insurance Agent - Insurance agents act as intermediaries between the insurance company and policyholders. Agents can be either captive or independent. Captive agents represent a single insurance company, while independent agents represent multiple insurers.

Insurance Broker - Individuals who sell insurance policies while representing the interests of the buyer. Brokers are typically independent intermediaries without an insurance company affiliation.

Insurance Producer - May be used to refer to either individual insurance agents and brokers or insurance agencies and brokerages.

Managing General Agent - An agent or broker that is involved in underwriting and has other areas of authority normally handled by insurers. MGAs are typically involved in unusual lines of coverage or in geographically prohibitive areas.

Surplus Lines Insurer - An insurance carrier that takes on risks that a licensed carrier is unwilling to insure. Surplus lines insurers do not have access to state guaranty funds and are less tightly regulated by state governing bodies.

Third Party Administrator - An organization that manages group insurance policies and works with the employer and insurance carrier to process claims, handle loss control, and provide risk management and consulting services.

Title Agent - Title agents sell insurance that protects real estate owners against loss of ownership of a property due to a legal claim.

Viatical Settlement Provider - A company that purchases life insurance policies at a discount from individuals seeking immediately available funds.

Independent Insurance Agents and Brokers of America (Big “I”)
Advocacy group of independent insurance brokers and agents.

National Association of Insurance and Financial Advisors (NAIFA)
Professional association that advocates for favorable regulatory conditions for insurance agents and financial advisors.

National Association of Insurance Companies (NAIC)
A standard setting and regulatory support organization that is governed by state insurance regulators.

National Association of Professional Insurance Agents (PIA)
Professional association that provides education and advocacy for insurance agents throughout the United States.

National Insurance Producer Registry (NIPR)
An affiliate of the NAIC that provides streamlined and uniform producer licensing processes.

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