Bill
Bill > HB3696
OK HB3696
OK HB3696Insurance; property and casualty; rates; filing; Insurance Commissioner; effective date.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
2026 Regular Session
Bill Summary
An Act relating to insurance; amending 36 O.S. 2021, Section 982, which relates to definitions used in the property and casualty competitive loss cost rating act; providing definitions; amending 36 O.S. 2021, Section 986, which relates to rate administration; changing process for rate making; directing insurers to file rates, applicable rating manuals, supplementary rating information and other required information with the Insurance Commissioner; permitting use of rate on and after date filed; directing the Insurance Commissioner to determine information required for filing; directing the Insurance Commissioner to develop process for requesting supplementary rating information and supporting information; providing exemptions; directing Insurance Commissioner to consider factors; directing the Insurance Commissioner to disapprove rates that do not comply with act; clarifying rates that have not been disapproved before thirty days are not disapproved without good cause extension; directing the Insurance Commissioner to issue an order when rates are disapproved; permitting hearings for insurer that files rate that is disapproved; directing the Oklahoma Insurance Department to track, compile, and analyze factors that contribute to disapproval of rates; authorizing the Oklahoma Insurance Department to request additional information; clarifying date of request for additional information; establishing that the Insurance Commissioner may only disapprove a rate that is in effect after hearing; permitting insureds who are aggrieved with respect to any filing in effect to apply to the Insurance Commissioner for hearing; directing the Insurance Commissioner to hold hearing; authorizing the Insurance Commissioner to issue order after hearing; authorizing the Insurance Commissioner to require an insurer to file for approval of all rates, supplementary rating information, and any supporting information if certain determinations are made; prohibiting insurers from using a rate until it has been filed; permitting use of certain rates without prior approval; establishing exceptions to filing requirements; repealing 36 O.S. 2021, Section 984, which relates to presumption of competitive market; repealing 36 O.S. 2021, Section 987, which relates to rate filings; providing for codification; and providing an effective date.
AI Summary
This bill modifies Oklahoma's insurance laws concerning property and casualty rates, primarily by changing the process for how insurance companies file and use these rates. It introduces a new system where insurers must file their rates, along with supporting documents like rating manuals and supplementary information, with the Insurance Commissioner. Once filed, insurers can generally use these rates immediately, though the Commissioner has a limited timeframe (initially 30 days, extendable for another 30 for good cause) to review and potentially disapprove them if they don't comply with the law. The bill also outlines specific exemptions from these filing requirements for certain large commercial policyholders and for smaller insurers in the residential property market, with conditions for when even these exempted insurers must file. Importantly, the bill repeals existing laws that presumed a competitive market and governed rate filings, and it establishes procedures for hearings and appeals if a rate is disapproved, as well as for insureds who are aggrieved by a filing. The Oklahoma Insurance Department will also track reasons for rate disapprovals and requests for additional information. The bill aims to streamline the rate-filing process while maintaining oversight and consumer protection, with an effective date of November 1, 2026.
Committee Categories
Business and Industry
Sponsors (3)
Last Action
House Committee Proposed Committee Substitute (full committee) 1 - Proposed Committee Substitute (full committee) 1 (on 03/03/2026)
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=hb3696&Session=2600 |
| Proposed Committee Substitute (full committee) 1 | https://www.oklegislature.gov/cf_pdf/2025-26%20COMMITTEE%20AMENDMENTS/House/HB3696%20FULLPCS1%20EMILY%20GISE-MJ.PDF |
| Fiscal Note/Analysis - House: Proposed Policy Committee Recommendation | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/House/HB3696%20POLREC%20BILLSUM.PDF |
| Policy Committee Recommendation | https://www.oklegislature.gov/cf_pdf/2025-26%20COMMITTEE%20SUBS/HCS/HB3696%20POLREC.PDF |
| Fiscal Note/Analysis - House: Proposed Policy Committee Substitute 1 | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/House/HB3696%20POLPCS1%20BILLSUM.PDF |
| Proposed Policy Committee Substitute 1 | https://www.oklegislature.gov/cf_pdf/2025-26%20COMMITTEE%20AMENDMENTS/House/HB3696%20POLPCS1%20EMILY%20GISE-MJ.PDF |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB3696%20INT.PDF |
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