Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-78 - Tennessee County Mutual Insurance Company Act
Section 0780-01-78-.03 - COMPENSATION EXPENSE RATIO
Universal Citation: TN Comp Rules and Regs 0780-01-78-.03
Current through September 24, 2024
(1) No county mutual insurance company's compensation expense ratio may exceed thirty percent (30%) for any given year.
(2) Any county mutual insurance company whose compensation expense ratio exceeds thirty percent (30%) for any given year shall be considered to be operating in a hazardous financial condition.
Authority: T.C.A. §§ 56-22-107(b), 56-22-119, and 56-22-120.
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