Tennessee has seen a 25% bounce within the variety of insurance coverage producer licenses up to now 5 years, a rise that regulators have attributed to a inhabitants increase within the state and easy accessibility to producer exams.
The state now has 301,947 lively licensed producers, which incorporates nearly 250,000 non-resident licenses, the Tennessee Division of Commerce and Insurance coverage stated in a bulletin. That compares to a complete of 240,080 licenses in 2020.
The state’s inhabitants is rising steadily, the division stated. In 2022, the inhabitants was about 7 million. By 2041, the quantity is predicted to move 8 million.
In 2023, insurance coverage corporations domiciled or headquartered within the state wrote $26 billion in premium. Tennessee now ranks 17 within the nation for premium quantity, based on information from the Nationwide Affiliation of Insurance coverage Commissioners, TDCI famous.
TDCI additionally stated it has labored with Pearson VUE, one of many largest testing corporations, to offer distant testing for license candidates.
“The provision of on-line exams has confirmed to be a profit for candidates and the insurance coverage business as an entire,” stated state Assistant Insurance coverage Commissioner Invoice Huddleston.
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