Bill
Bill > HB3780
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to insurance; amending 36 O.S. 2021, Section 1125, which relates to rate filing requirements; requiring insurance companies to include opinion of an appointed independent actuary; directing Insurance Commissioner to use qualified actuary at company's expense if opinion is not provided or is insufficient; defining independent actuary; and providing an effective date.
AI Summary
This bill requires property and casualty insurance companies operating in Oklahoma to include an opinion from an appointed independent actuary, who is a qualified actuary with no conflicting financial interests in the company, when filing their rates. This opinion, which must justify the rates specifically for Oklahoma, will be filed according to the National Association of Insurance Commissioners (NAIC) Property and Casualty Annual Statement Instructions. If a company fails to provide this opinion or if the provided opinion is deemed insufficient by the Insurance Commissioner, the Commissioner is now mandated to hire a qualified actuary, paid for by the insurance company, to review and prepare the necessary documentation. The bill also clarifies that these independent actuaries are protected from liability except in cases of fraud or willful misconduct and sets an effective date of November 1, 2026.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Policy recommendation to the Commerce and Economic Development Oversight committee; Do Pass 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=hb3780&Session=2600 |
| Fiscal Note/Analysis - House: Introduced | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/House/HB3780%20INT%20BILLSUM.PDF |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB3780%20INT.PDF |
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