TDCI Recognizes February as Insurance Careers Month
NASHVILLE — In celebration of February’s designation as Insurance Careers Month, the Tennessee Department of Commerce & Insurance (TDCI) celebrates the thousands of hard-working, compassionate insurance professionals who call Tennessee home.
TDCI’s Insurance Division is responsible for licensing and regulating over 257,000 insurance producers and over 2,500 continuing education insurance providers who conduct business in Tennessee.
“Insurance is a critical tool for helping families, businesses, and individuals get back on their feet after a devastating loss,” said TDCI Deputy Commissioner Toby Compton. “As the state’s regulator for insurance professionals, I want to recognize the critical role that Tennessee’s insurance professionals have in the fabric of their communities, especially those who live and work in rural Tennessee. These valuable professionals are performing important work for our state’s economy and the livelihoods of our citizens.”
Said TDCI Assistant Commissioner Bill Huddleston: “Tennessee insurance professionals are, by and large, conscientious community members who give of themselves to help others in their communities after a loss. Our team is here to assist insurance consumers and professionals with their questions.”
The insurance industry plays a vital part to Tennessee’s overall economy, which continues to thrive under Tennessee Governor Bill Lee. For example:
- 45 new traditional insurance companies headquartered outside of Tennessee were licensed to conduct business in Tennessee during 2021.
- 1,940 total traditional insurance companies are actively licensed in Tennessee in 2021.
- $48.0 billion in premium volume was written in Tennessee by in 2020,making Tennessee No. 16 in the nation for premium volume according to the National Association of Insurance Commissioners.
- Total direct premiums written in TN have increased 49% since 2011.
- Additionally, Tennessee had 151 active licensed pure captives and 338 Protected Cells, totaling 489 Risk Bearing Entities with many more in the pipeline for 2022. Today, annual gross written premiums from Tennessee captive insurance companies exceed $1.72 billion.
For individuals who may be interested in a career in the insurance industry, TDCI launched remote/online testing in 2021 for prospective insurance producers with testing partners Pearson VUE. Details about remote examinations can be found here.
For more information about insurance regulations, or if you have questions about one of your policies, contact TDCI at (615) 741-2218, 1-800-342-4029, or visit us online.
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