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Bill > HB3646

OK HB3646

OK HB3646
Insurance; property and casualty; rates; filing; Insurance Commissioner; repealer; effective date.

summary

Introduced
02/02/2026
In Committee
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 Insurance Department to track, compile, and analyze factors that contribute to disapproval of rates; authorizing the 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 the Property and Casualty Competitive Loss Cost Rating Act by changing how insurance rates are filed and reviewed. Insurers, referred to as "filers," will now be required to submit all their rates, applicable rating manuals (which are publications detailing rules, classifications, and rates), supplementary rating information (like rating plans and territory codes), and other supporting data to the Insurance Commissioner. Insurers can use a filed rate immediately on the date it's submitted, and the Commissioner has a 30-day period, extendable for good cause, to disapprove a rate if it doesn't comply with the act; if not disapproved within this timeframe, the rate is considered approved unless an extension is granted. The bill also outlines specific exemptions for large commercial insureds and smaller insurers, and it clarifies that the Commissioner can only disapprove a rate that is already in effect after a hearing, and aggrieved policyholders can also request a hearing. Additionally, the bill repeals existing sections related to the presumption of a competitive market and previous rate filing procedures, and it establishes a new effective date of November 1, 2026.

Committee Categories

Business and Industry

Sponsors (3)

Last Action

House Insurance Hearing (15:00:00 2/17/2026 Room 5s2) (on 02/17/2026)

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