(a) The commissioner shall have the discretion to require any insurer placed under administrative supervision, as authorized by this part, to pay any and all appropriate and reasonable costs incurred during the supervision, including, but not limited to:

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Terms Used In Tennessee Code 56-9-511

  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-9-501
  • Department: means the department of commerce and insurance. See Tennessee Code 56-9-501
  • Insurer: means and includes every person engaged as indemnitor, surety or contractor in the business of entering into contracts of insurance or of annuities, as limited to:
    (A) Any insurer who is doing an insurer business, or has transacted insurance in this state, and against whom claims arising from that transaction may exist now or in the future. See Tennessee Code 56-9-501
(1) The expenses of the commissioner or the commissioner’s designated appointee; and
(2) The compensation of the experts, actuaries and examiners as may be contracted for by the commissioner or the commissioner’s designated appointee for the purpose of assisting in the supervision. The compensation shall be fixed at a reasonable amount commensurate with usual compensation for like services and shall not exceed one hundred fifty percent (150%) of the compensation and per diem allowances set forth in the guidelines adopted by the National Association of Insurance Commissioners.
(b) The costs of an administrative supervision incurred by the commissioner shall be paid into the department for its use and benefit in meeting the expenses and compensation for the persons engaged in the supervision.
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