The Tennessee Department of Commerce & Insurance (TDCI) reported that a record-breaking $17.54 million was returned to consumers in 2024 through its mediation and restitution efforts.
TDCI’s Consumer Insurance Services team, which assists in resolving disputes between consumers and insurance companies, handled 3,728 complaints in 2024. This marks an increase from the previous record of $17.45 million returned in 2023.
“Thanks to the efforts of our Consumer Insurance Services team, Tennessee consumers have seen previously denied claims overturned and additional benefits identified and paid,” said TDCI Commissioner Carter Lawrence. “I am proud of our team's work to help ensure that hard-working Tennesseans receive the payments they are entitled to. Consumers facing challenges with their insurance claims or policies should know they can reach out to our team for assistance.”
TDCI, which regulates all lines of insurance in the state, encourages consumers with insurance-related concerns to contact its office. The most common complaints include claim denials, delays, unsatisfactory settlement offers, and out-of-network benefits.
“Tennessee consumers have received record-breaking amounts in returned funds for two consecutive years, demonstrating our commitment to protecting policyholders,” said TDCI Assistant Commissioner Bill Huddleston. “I join Commissioner Lawrence in recognizing our team’s efforts and urge consumers to reach out with any insurance-related questions, whether routine or more complex, such as those following a natural disaster.”
In January, TDCI announced that workers’ compensation insurance premiums will decline for more businesses in the state in 2025, marking the 12th consecutive year of rate reductions.
“Lower premiums allow business owners to have the flexibility they need to re-invest in their companies,” said Governor Bill Lee.
On December 27, 2024, TDCI Commissioner Carter Lawrence approved an order for a 3.6% overall loss cost decrease in the voluntary market, effective March 1, 2025. The reduction applies to new and renewal policies.
