Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
2 2nd Session of the 60th Legislature (2026)
3 HOUSE BILL 3781 By: Adams
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6 AS INTRODUCED
7 An Act relating to insurance; amending 36 O.S. 2021,
Section 987, which relates to rate filings; requiring
8 insurers in a competitive market to file rates sixty
days before effective date; requiring insurers in a
9 noncompetitive market to file rates ninety days
before effective date; and providing an effective
10 date.
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13 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
14 SECTION 1. AMENDATORY 36 O.S. 2021, Section 987, is
15 amended to read as follows:
16 Section 987. Rate Filings.
17 A. In a competitive market, every insurer shall file with the
18 Commissioner all rates and supplementary rate information to be used
19 in this state no later than thirty (30) days after at least sixty
20 (60) days prior to the proposed effective date; provided, that the
21 rates and supplementary rate information need not be filed for
22 commercial risks, which by general custom are not written according
23 to manual rules or rating plans.
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Req. No. 14361 Page 1
1 B. In a noncompetitive market, every insurer shall file with
2 the Commissioner all rates, supplementary rate information and
3 supporting information at least thirty (30) sixty (60) days before
4 the proposed effective date. The Commissioner may give written
5 notice, within thirty (30) days of receipt of the filing, that the
6 Commissioner needs additional time, not to exceed thirty (30) sixty
7 (60) days from the date of the notice to consider the filing. Upon
8 written application of the insurer, the Commissioner may authorize
9 rates to be effective before the expiration of the waiting period or
10 an extension thereof. A filing shall be deemed to meet the
11 requirements of the Property and Casualty Competitive Loss Cost
12 Rating Act and to become effective unless disapproved pursuant to
13 this title by the Commissioner before the expiration of the waiting
14 period or an extension thereof.
15 In a noncompetitive market, the filing shall be deemed in
16 compliance with the filing provision of this section unless the
17 Commissioner informs the insurer within ten (10) days after receipt
18 of the filings as to what supplementary rate information or
19 supporting information is required to complete the filing.
20 C. Every authorized insurer shall file with the Commissioner,
21 except as to rates for those lines of insurance exempted from the
22 provisions of the Property and Casualty Competitive Loss Cost Rating
23 Act by the Commissioner under subsections E and F of this section
24 and except for those risks designated as special risks under Section
Req. No. 14361 Page 2
1 997 of this title, all rates, supplementary rate information and any
2 changes and amendments which it proposes to use. An insurer may
3 file its rates by either filing its final rates or by filing a
4 multiplier and, if applicable, an expense constant adjustment to be
5 applied to prospective loss costs that have been filed by an
6 advisory organization as permitted by this title. Such loss cost
7 multiplier filing and expense constant filings made by insurers
8 shall remain in effect until amended or withdrawn by the insurer.
9 Every filing shall state the effective date.
10 D. Under rules as may be adopted, the Commissioner may, by
11 written order, suspend or modify the requirement of filing as to any
12 kind of insurance, subdivision or combination thereof, or as to
13 classes of risks.
14 E. Notwithstanding any other provision of the Property and
15 Casualty Competitive Loss Cost Rating Act, upon the written consent
16 of the insured in a separate written document, a rate in excess of
17 that determined in accordance with the other provisions of the
18 Property and Casualty Competitive Loss Cost Rating Act may be used
19 on a specific risk.
20 F. A filing and any supporting information required to be filed
21 shall be open to public inspection once the filing becomes effective
22 except information marked confidential, trade secret, or proprietary
23 by the insurer or filer and except the filings of an advisory
24 organization which shall be open to public inspection upon the
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1 received date of the rate, loss cost, or manual rule change. The
2 insurer or filer shall have the burden of asserting to the
3 Commissioner that a filing and supporting information are
4 confidential, upon the request of the Commissioner. The
5 Commissioner may disapprove of the insurer's request for
6 confidential filing status.
7 SECTION 2. This act shall become effective November 1, 2026.
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9 60-2-14361 MJ 01/14/26
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Req. No. 14361 Page 4Every fact on this page links to its source, starting with the official bill record.