On May 12, 2026, OKL LEG reported that the bill was approved by the governor.
On May 6, OKL LEG passed bill on insurance rate regulation, oversight.
OKL LEG passed HB 3781 to amend Property and Casualty Competitive Loss Cost Rating Act by expanding oversight of insurance rates, updating rate-setting standards.
Allows the Insurance Commissioner to determine rates as excessive based on actuarial review, even in competitive markets, and removes limitations on disapproval authority.
Requires Commissioner to notify insurers and allow them to respond before decisions.
It updates filing requirements by modifying timelines and conditions for rate filings in both markets, including supervision for certain insurers and opportunities for hearings.
It increases transparency by requiring publication of rate increases on the website and strengthens the Commissioner’s authority to disapprove rates after they take effect.
Overall, it modernizes language, strengthens oversight of insurer pricing practices, and enhances consumer protection through greater review and disclosure requirements.
Legislative History
On Feb. 2, 2026, bill introduced in House; on Mar. 26, 2026, bill passed House.
On Mar. 30, 2026, bill introduced in Senate; on May 4, 2026, bill passed Senate.
On May 6, 2026, bill passed in House after Senate amendments.
Effectiveness
Upon approval, act shall become effective Nov. 1, 2026.
May 2026 OKL LEG Governor Approval
On May 12, 2026, OKL LEG reported that the bill was approved by the governor.
Regulators
OKL LEG
Entity Types
Ins
Reference
Act, 5/12/2026; Bill, HB3781, 5/6/2026; Citation: OKL INS 36;
Functions
Actuarial and Valuation; Compliance; Legal; Product Administration; Product Design
