TN Insurance Bulletin 23-07: Fire Loss Reporting Requirements

BILL LEE GOVERNOR To: From: Date: RE: STATE OF TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE 500 JAMES ROBERTSON PARKWAY NASHVILLE, TENNESSEE 37243-5065 615-741-6007 BULLETIN 23-07 Licensed Tennessee Insurers C L C • • L M arter awrenCe, OmmlSSlOner Cart:.:t.:nce(Dec 13, 202313:26 CST) December 13, 2023 Reporting Required by Tenn. Code. Ann.§ 68-102-114 CARTER LAWRENCE COMMISSIONER All insurers transacting business in Tennessee are reminded to submit the required annual report of all fire losses on property insured in Tennessee on or before February 1, 2024. The report should cover all losses between January 1, 2023, and December 31, 2023. The Commissioner will accept reports from insurance companies via the ISO ClaimSearch© database or by submitting data using Microsoft Excel. For insurance companies that elect to submit their reports directly to the Department, please email Michelle.Price@tn.gov. Tenn. Code Ann. § 68-102-114 requires the annual fire loss reports to be submitted to the Commissioner of the Tennessee Department of Commerce and Insurance and requires the following information about fire losses to be included in the report: • The owner and occupant of the premises burned; • The date, location, and cause of fire; • Occupancy of the affected property; • Amount of insurance; • Sound value of the property; and • The amount of loss paid. Insurance companies may be contacted for additional data relating to the reports filed if the information reported is not sufficient or complete. Please review Tenn. Code Ann. § 68- 102-114 when completing the reports. Please contact Michelle.Price@tn.gov with any questions.