Comptroller, State - As introduced, increases from $50,000 to $100,000 the bond amount that every insurance company doing a workers' compensation business in this state must furnish with a surety company; increases from $100,000 to $200,000 the certificate amount that such a company may deposit with the commissioner of labor and workforce development in lieu of the bond. - Amends TCA Title 12; Title 29; Title 50 and Title 56.

SB 1383 increases financial requirements for insurance companies providing workers' compensation coverage in Tennessee. It raises the bond amount these companies must post from $50,000 to $100,000 and the deposit amount they may place with the state's labor commissioner from $100,000 to $200,000. These changes apply directly to insurance companies operating in Tennessee's workers' compensation market. The bill amends specific sections of Tennessee law (TCA Title 50, Sections 50-6-404(a)(1) and 50-6-404(b)) and takes effect January 1, 2026.