Premium Finance

Tennessee Code Annotated § 56-37-103(a) provides that, no person shall engage in the business of a premium finance company in this state without first having obtained a license as a premium finance company from the commissioner.

Tennessee Code Annotated § 56-37-102(5) “Premium finance company” means a person engaged in the business of entering into premium finance agreements or acquiring premium finance agreements from other premium finance companies.

Tennessee Code Annotated § 56-37-102(4) “Premium finance agreement” means an agreement by which an insured or prospective insured promises to pay to a premium finance company the amount advanced or to be advanced under the agreement to an insurer or to an insurance agent or producing agent in payment of premiums of an insurance contract, together with interest and a service charge as authorized and limited by this chapter.

A separate license shall be required for each location from which business is conducted.

APPLICATION and REQUIREMENTS:

All Premium Finance Lender license applications, amendments, and renewal filings must be made through the Nationwide Multistate Licensing System and Registry (NMLS). Click HERE to access NMLS. 

Click HERE to access the TN Premium Finance Lender License Requirements Checklist in NMLS.

Licensing Contact Information

Email: TDFI.licensing@tn.gov
Phone: (615) 253-6714
Fax: (615) 253-7794