What is the required notice period if an insurer intends to increase a premium by 25%?

In Tennessee, when an insurer plans to increase a premium for a policy by 25% or more, they are legally required to provide the policyholder with a notice period of 60 days. This regulation ensures that policyholders are adequately informed about significant changes to their insurance costs, allowing them to make informed decisions regarding their coverage options. This notice period is important for maintaining transparency and trust between insurers and their clients, enabling policyholders to either prepare for the increased cost or consider shopping for alternative policies that may offer more favorable terms. This reflects the broader aim of consumer protection within the insurance industry.