Insurance Companies, Agents, Brokers, Policies - As introduced, requires an insurance company that increases its premiums to give 45 days' notice rather than 30 days' notice of the increase to a customer who has an account paid by bank draft or preauthorized check. - Amends TCA Title 56.

SB 1049 would require Tennessee insurance companies to provide 45 days' notice before increasing premiums for customers with automatic bank payments, instead of the current 30 days. This change directly affects policyholders who pay via bank draft or preauthorized check. The bill amends Tennessee Code Annotated Section 56-7-118 to extend the notice period from 30 to 45 days. It is currently pending in the Senate Commerce and Labor Committee after passing initial readings in February 2025. The bill focuses solely on adjusting the notice timeline for premium increases, without altering other insurance regulations.