OKL INS proposed OKL INS 365:15-1-3.3, workers' comp assigned risk insurance plan.
Also proposed OKL INS 365:15-1-26 on insurance coverage for motor vehicle repairs.
Workers' Comp
OKL INS 365:15-1-3.3 added in parameters for a third-party designation and direct assignment by the Commissioner for the new risk pool created by statute last year.
3rd party designated by Commissioner to develop and administer OKL workers’ comp assigned risk insurance plan must prepare and submit plan to OKL INS for approval.
Must provide for equitable apportionment among insurers of applicants for workers’ comp insurance who are in good faith eligible for, but unable to procure, insurance.
Plan is required to provide reasonable rules governing the equitable distribution of risks by direct assignment, reinsurance, or otherwise, their assignment to insurers.
Provide grievance method and the right to appeal decision by the Commissioner.
Any insurer becoming direct assignment carrier must request approval annually.
Body Shop Repairs
OKL INS 365:15-1-26 added parameters for market surveys for body shop repairs.
Insurer must conduct a market survey of the prices charged for repairs performed in accordance with manufacturing standards by repair facilities within statistical area.
Competitive price will be an amount equal to or greater than the mean of all of the prices provided to the insurer by repair facilities within the core based statistical area.
Capable of making repairs in accordance with the applicable manufacturing standards.
May use automobile collision repair estimating software to set competitive prices.
Consultation
Comments were due Jan. 5, 2024; proposal was submitted to the governor on Jan. 9.
Aug. 1, 2024 OKL INS Final Rules
On Aug. 1, 2024, OKL INS published the final workers' comp rules in the State register
Adds parameters for third-party designation for the new risk pool and for insurers to follow when doing body shop repair market surveys; rules effective Aug. 11, 2024.
Aug. 21, 2024 OKL INS Bulletin
On Aug. 21, 2024, OKL INS issued notice of final motor vehicle repairs rule change.
Property and casualty carriers, and surplus lines carriers writing personal or commercial passenger auto policies to file market survey attestation by Dec. 31, 2024.
Oct. 2024 OKL INS Final Rule Publication
On Oct. 8, 2024, OKL INS reported publication of final rule with adopted rule text.
Also provided publication of amended proposed rule text, and rule impact statement.
Regulators
OKL INS
Entity Types
Corp; Ins
Reference
RF, 10/8/2024; Bul 2024-07, 8/21/2024; OKL SR Vol. 41 No. 22 p. 1390, 8/1/2024; SR Vol. 41 No. 11, 2/15/2024; RF 24-13, 1/9/2024; Citation: OKL INS 365;
