Tenn. Comp. R. & Regs. 0780-01-07-.16
Under the provisions of Section 56-8-105, of Tennessee Code Annotated, the Commissioner is empowered to examine and investigate into the affairs of every person engaged in the business of insurance in this State in order to determine whether such person has been or is engaged in any unfair method of competition or any unfair or deceptive act or practice prohibited by the Fair Trade Practices Act, and after a hearing the offender may be severely penalized up to Five Thousand ($5,000.00) Dollars for each such violation. In view of the seriousness of complaints, and in view of the financial losses which residents of this State have sustained, it shall be the policy of this Department to exercise, wherever deemed necessary, the authority contained in said Act.
Tenn. Comp. R. & Regs. 0780-01-07-.16
Authority: T.C.A. § 56-2-301.