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Bill > SB1444
OK SB1444
OK SB1444Insurance; allowing rates to be excessive; requiring filings with Insurance Commissioner; allowing Commissioner to give written notices; requiring Commissioner to disapprove rates; increasing certain time frames for filings. Effective date.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
02/19/2026
02/19/2026
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to insurance; amending 36 O.S. 2021, Sections 985, 987, 989, 994, and 995, as amended by Section 1, Chapter 304, O.S.L. 2022 (36 O.S. Supp. 2025, Section 995), which relate to ratemaking standards, rate filings, improper rates, and the Property and Casualty Competitive Loss Cost Rating Act; allowing certain rates to be determined to be excessive; allowing certain rates to be considered based on certain criteria; requiring every insurer to file with the Insurance Commissioner all rates and supplementary rate information within a certain time period prior to the effective date of the rate; allowing Commissioner to give written notice to certain insurer within a certain time period for additional time; updating statutory reference; requiring Commissioner to disapprove certain rates; allowing Commissioner to hold certain hearing for certain rate disapproval; increasing certain time frame for certain advisory organization to file certain information; updating statutory language; and providing an effective date.
AI Summary
This bill modifies Oklahoma insurance laws concerning how insurance rates are set and reviewed. It clarifies that rates can be considered "excessive" if they are unreasonably high in relation to the profit or services provided, and it expands the criteria for unfair discrimination to include religion. The bill increases the time insurers have to file their proposed rates with the Insurance Commissioner from 30 days to at least 60 days before they become effective, and also extends the time the Commissioner has to review these filings and request additional information. Furthermore, it mandates that the Commissioner must disapprove rates that are found to be excessive, inadequate, or unfairly discriminatory, and allows for hearings to be held in such cases. The bill also extends the filing time for advisory organizations, which provide rate information to insurers, from 30 to 60 days. Finally, it clarifies that if the Commissioner finds an insurer's activity in joint underwriting or pools to be unfair or detrimental to competition, the Commissioner shall issue an order to stop that activity. This bill is set to become effective on November 1, 2026.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Failed in Committee - Business and Insurance (on 02/19/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1444&Session=2600 |
| Fiscal Note/Analysis - Senate: Introduced | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB1444%20INT%20BILLSUM.PDF |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/SB/SB1444%20INT.PDF |
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