SB1592

Oklahoma SB1592 amends the Property and Casualty Competitive Loss Cost Rating Act to allow certain rates to be deemed excessive and establishes.

Oklahoma SB1592 amends the Property and Casualty Competitive Loss Cost Rating Act by allowing the Insurance Commissioner to determine certain rates as excessive, inadequate, or unfairly discriminatory. The bill mandates that insurers file all rates and supplementary rate information with the Commissioner at least 30 days before the effective date. The Commissioner can disapprove rates if they find them excessive, inadequate, or unfairly discriminatory.