2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 12 - SELF-SERVICE STORAGE INSURANCE (§§ 56-6-1201 — 56-6-1207) › Section 56-6-1206 - Termination or change in terms and conditions by insurer

Notwithstanding any other law to the contrary:
(1)
An insurer may terminate or otherwise change the terms and conditions of a policy of self-service storage insurance only upon providing the policyholder and enrolled occupants with at least thirty (30) days written notice;
(2)
If the insurer changes the terms and conditions, then the insurer shall provide the owner with a revised policy or endorsement and each enrolled occupant with a revised certificate, endorsement, updated brochure or other evidence indicating a change in the terms and conditions has occurred and a summary of material changes;
(3)
Notwithstanding subdivision (1):
(A)
An insurer may terminate an enrolled occupant's enrollment under a self-service storage insurance policy upon fifteen (15) days written notice for discovery of fraud or material misrepresentation in obtaining coverage or in the presentation of a claim thereunder; and
(B)
An insurer may immediately terminate an enrolled occupant's enrollment under a self-service storage insurance policy:
(i)
For nonpayment of premium;
(ii)
If the enrolled occupant ceases to have active business with the owner; or
(iii)
If an enrolled occupant exhausts the aggregate limit of liability, if any, under the terms of the self-service storage insurance policy and the insurer sends written notice of termination to the enrolled occupant within thirty (30) calendar days after exhaustion of the limit; provided, however, that if notice is not timely sent, enrollment shall continue notwithstanding the aggregate limit of liability until the insurer sends written notice of termination to the enrolled occupant;
(4)
If a self-service storage insurance policy is terminated by a policyholder, then the policyholder shall mail or deliver written notice to each enrolled occupant advising the enrolled occupant of the termination of the policy and the effective date of termination. The written notice shall be mailed or delivered to the enrolled occupant at least thirty (30) days prior to the termination; and
(5)
(A)
Whenever notice by an insurer is required pursuant to this section, the notice shall be in writing and may be mailed or delivered to the owner at the owner's mailing address and to its affected enrolled occupants' last known mailing addresses on file with the insurer;
(B)
If notice is mailed pursuant to this section, then the insurer or owner, as the case may be, shall maintain proof of mailing in a form authorized or accepted by the United States postal service or other commercial mail delivery service;
(C)
An insurer or owner may comply with any notice required by this section by providing electronic notice to an owner or its affected enrolled occupants, as the case may be, by electronic means. If notice is accomplished through electronic means, the insurer or owner, as the case may be, shall maintain proof that the notice was sent.
Added by 2013 Tenn. Acts, ch. 293,s 7, eff. 7/1/2013.