Bill > HB2929

This bill modifies existing Oklahoma law regarding homeowner's insurance policies to provide greater protection for policyholders. Specifically, it prohibits insurers from canceling, refusing to renew, or increasing premiums on homeowner's insurance policies due to claims that occurred more than five years before the policy's effective date or renewal, and also prevents insurers from refusing to underwrite a policy based on such old claims. The bill also clarifies that insurers can only consider an applicant's at-fault motor vehicle claims history within the preceding three years when determining policy rates, and it adds a provision that insurers cannot deny coverage for weather-related claims unless there have been three or more such claims within the last three years, with certain exceptions. The bill also retains existing reasons for which an insurer can still cancel, refuse to renew, or increase premiums, such as nonpayment of premium, fraud, or a significant increase in risk.

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http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2929&Session=2600