Insurance Licensing Compliance Guide

Insurance Licensing Compliance

Tennessee Insurance License

An insurance agent inspecting the damages to a car

Licensing requirements for Tennessee insurance professionals and companies.

This page provides an overview of insurance licensing in Tennessee for individuals and companies. You will find state requirements, application fees, filing instructions, and more. For assistance with licensing, please contact us to learn about our software and managed license services.

Companies that provide insurance producer services in Tennessee must apply for a license prior to doing business. Depending on the lines of authority offered by the entity and the types of services offered, multiple firm licenses may be required.

Before applying, firms should ensure that the licensed individual to be appointed agent in charge has the necessary licenses. Firms should also gather proof of incorporation, or foreign qualification for out-of-state firms, in anticipation of application requirements.

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Company Licenses

Tennessee Financial Services Company Licenses

Tennessee Collection Agency Branch Office License

Agency:Tennessee Department of Commerce and Insurance
Fact Checked:1/8/19

Initial Registration

Filing Method:

Online

Agency Fee:

$100 registration fee + $25 for each solicitor.

Fact Checked:1/8/19

Registration Renewal

Filing Method:

Online

Agency Fee:

$350 renewal fee + $25 for each solicitor.

Due:

Biennially by the date of issuance.

Fact Checked:1/8/19

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.

Fact Checked:1/8/19

Initial Registration

Filing Method:

Online

Agency Fee:

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

Fact Checked:1/8/19

Registration Renewal

Filing Method:

Online

Agency Fee:

$350 renewal fee + $25 for each solicitor.

Due:

Biennially by the date of issuance.

Fact Checked:1/8/19

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.

Fact Checked:1/8/19

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.

Fact Checked:1/8/19

Tennessee External Review Registration

Type of Review:

Medical Utilization Review

Agency:Tennessee Department of Commerce and Insurance
Fact Checked:7/26/18

Initial Registration

Agency:Tennessee Department of Commerce and Insurance
Form:

External Review Organizations Application Packet

Agency Fee:

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

Fact Checked:7/26/18

Registration Renewal

Agency:Tennessee Department of Commerce and Insurance
Form:

External Review Organizations Application Packet (Renewal)

Agency Fee:

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

Due:

Biennially

Fact Checked:7/26/18

Tennessee Insurance Agency License

Agency:Tennessee Department of Commerce and Insurance
Fact Checked:1/8/16

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

Fact Checked:1/8/16

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

Fact Checked:1/8/16

Tennessee Utilization Review Registration

Type of Review:

Medical Utilization Review

Agency:Tennessee Department of Commerce and Insurance
Fact Checked:7/26/18

Initial Registration

Agency:Tennessee Department of Commerce and Insurance
Form:

Utilization Review Application Packet

Agency Fee:

$1,000

Fact Checked:7/26/18

Registration Renewal

Agency:Tennessee Department of Commerce and Insurance
Form:

Utilization Review Application Packet (Renewal)

Agency Fee:

$1,000

Due:

Annually by July 1.

Fact Checked:7/26/18

Individual Licenses

Tennessee Individual Financial Services Licenses

Tennessee Individual Insurance Producer License

Agency:Tennessee Department of Commerce and Insurance - Insurance Division
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No
Fact Checked:4/30/20

Initial Registration

Filing Method:

Online

Agency Fee:

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

Fact Checked:4/30/20

Registration Renewal

Filing Method:

Online

Agency Fee:

Residents pay $60 for major lines of authority and $30 for limited lines of authority. Non-resident producers pay a retaliatory fee based on their home state.

Due:

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

Fact Checked:4/30/20

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

Fact Checked:6/1/17

Learn about insurance 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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