Title 36 — Title 36 — Insurance

Competitive Market. A. A competitive market is presumed to exist for a line of insurance unless the Commissioner, after a hearing, issues an order stating that a reasonable degree of competition does not exist in the market. The burden of proof in any hearing shall be placed on t…

Ratemaking Standards. A. A rate may not be excessive, inadequate or unfairly discriminatory. 1. No rate in a competitive market may be determined to be excessive. A rate in a noncompetitive market may be determined to be excessive if it is likely to produce a profit that is unrea…

A. If the Commissioner determines that competition does not exist in a market and issues a ruling to that effect pursuant to Section 984 of Title 36 of the Oklahoma Statutes, the rates applicable to insurance sold in that market shall be regulated in accordance with the provision…

Rate Administration. A. In only those markets found to be noncompetitive pursuant to Section 984 of this title, insurers and advisory organizations shall file with the Commissioner and the Commissioner shall review reasonable rules and plans for recording and reporting their rate…

Rate Filings. A. In a competitive market, every insurer shall file with the Commissioner all rates and supplementary rate information to be used in this state no later than thirty (30) days after the effective date; provided, that the rates and supplementary rate information need…

36 O.S. § 988 Repealed by Laws 2004, c. 519, § 37, eff. Nov. 1, 2004

Improper Rates; Disapproval; Hearing. A. Basis for disapproval. 1. The Commissioner shall disapprove a rate in a competitive market only if the Commissioner finds, pursuant to subsection B of this section, that the rate is inadequate or unfairly discriminatory pursuant to Section…

Challenge and Review of Application of Rating System. A. Every advisory organization and every insurer subject to the Property and Casualty Competitive Loss Cost Rating Act which makes its own rates shall provide within this state reasonable means whereby any insured aggrieved by…

36 O.S. § 991 Repealed by Laws 2006, c. 264, § 82, eff. July 1, 2006

Insurers; Prohibited Activity. A. No insurer shall: 1. Attempt to monopolize, or combine or conspire with any person or persons to monopolize an insurance market; 2. Engage in a boycott, on a concerted basis, of an insurance market; and 3. Except as set forth in subsection B of t…

36 O.S. § 993 Repealed by Laws 2006, c. 264, § 82, eff. July 1, 2006

Advisory Organizations; Filing Requirements. Every advisory organization shall file with the Commissioner for approval every statistical plan, all prospective loss costs, provisions for special assessments and all supplementary rating information and every change or amendment or …

market activities. Joint Underwriting, Joint Reinsurance Pool and Residual Market Activities. A. Notwithstanding paragraph 3 of subsection A of Section 992 of this title, insurers participating in joint underwriting, joint reinsurance pools or residual market mechanisms may in co…

Assigned Risks. A. Agreements may be made among insurers with respect to the equitable apportionment among them of costs for insurance which may be afforded applicants who are in good faith entitled to, but who are unable to procure, such insurance through ordinary methods, and s…

After consultation with the insurance companies authorized to issue automobile liability policies in this state, the Insurance Commissioner shall approve a reasonable plan or plans, fair to the insurers and equitable to their policyholders, for the apportionment among such compan…

Commercial Special Risks. A. The following categories of commercial lines risks, excluding employer's liability line, workers’ compensation and excess workers’ compensation, are special risks and are exempted from the filing and review requirements set forth in Section 987 of thi…

Appeals from Commissioner. A. Any party aggrieved by an order or decision of the Commissioner may, within thirty (30) days after receiving the Commissioner's notice, make written request for a hearing. B. Any order, decision or act of the Commissioner pursuant to the Property and…

Report of examination in another state. A. The Commissioner may examine any insurer, pool, advisory organization, or residual market mechanism to ascertain compliance with the Property and Casualty Competitive Loss Cost Rating Act. B. Every insurer, pool, advisory organization, a…

Sections 1 through 7 of this act shall constitute Article 9C of the Insurance Code and shall be known and may be cited as the “Oklahoma Subsidence Insurance Act”. Added by Laws 2005, c. 118, § 1, eff. Jan. 1, 2006.

The purpose of the Oklahoma Subsidence Insurance Act is to make mine subsidence insurance coverage available for residences, living units and commercial buildings located in this state. Added by Laws 2005, c. 118, § 2, eff. Jan. 1, 2006.

As used in the Oklahoma Subsidence Insurance Act: 1. “Commercial building” means any building, other than a residence or living unit, permanently affixed to realty located in this state, including basements, footings, foundations, septic systems and underground pipes directly ser…

commercial buildings - Exemption. A. Beginning January 1, 2006, every insurer, as defined by Section 3 of this act, may offer mine subsidence coverage, upon the request by the policyholder, on policies, as defined by Section 3 of this act, issued or renewed, insuring residences, …

The residential coverage provided pursuant to the Oklahoma Subsidence Insurance Act may also cover the additional living expenses reasonably and necessarily incurred by the owner of a residence who has been temporarily displaced as the direct result of damage to the residence cau…

An insurer may refuse to provide mine subsidence coverage on a residence, living unit or commercial building evidencing unrepaired mine subsidence damage until such damage has been repaired. Added by Laws 2005, c. 118, § 6, eff. Jan. 1, 2006.

All insurers issuing mine subsidence policies shall retain the right of subrogation. Added by Laws 2005, c. 118, § 7, eff. Jan. 1, 2006.