The Oklahoma Insurance Department (OID) announces a comprehensive package of legislative policy proposals for 2026 designed to strengthen consumer protections and improve insurance market transparency. Insurance Commissioner Glen Mulready says the proposals reflect ongoing efforts to collaborate with lawmakers and industry stakeholders to ensure fair treatment and improve access to affordable coverage. The package addresses several areas of concern for the state insurance market, including shortened response deadlines for claims and new requirements for property and casualty market stability reporting. Under the new proposals, insurers must respond to consumer complaint inquiries and claims information requests within 14 days. The deadline for claim acceptance or denial is reduced from 60 days to 30 days, while the final claim resolution deadline is shortened from 120 days to 90 days. Untimely payments will allow for interest at 10 percent, mirroring existing life and health statutes. To improve market transparency, the legislation requires insurers to submit quarterly market stability statements covering non-renewals, market withdrawals and written premiums. The package also introduces mandatory Eagle Mediation availability for residential and commercial-residential claims to limit legal expenses. Legal reforms included in the proposal seek to codify that attorney fees may not be awarded to either party. This measure aims to disincentivise frivolous lawsuits and reduce litigation costs to further stabilise the market. Commissioner Mulready says: “Oklahomans deserve an insurance market that is transparent, responsive, and accountable. This package addresses consumer frustrations, including slow claims responses, limited disclosure from insurers, and premium increases, while helping stabilise the state’s insurance market.” Representative Mark Tedford adds: “While we can’t control severe weather or the rising cost of building materials, strengthening property resiliency, pursuing tort reform, and closing administrative loopholes in current law are the right steps forward.” The OID will work with legislators during the 2026 legislative session, which begins in February, to advance these proposals.
