OK SB23

Amends 36 O.S. 2001, Section 4405 regarding accident and health insurance policy provisions.

Eliminates the 2-year time limit for insurers to use misstatements as a defense to void policies or deny claims, except for willfully fraudulent misstatements which remain unlimited.

Changes the language from "After two (2) years from the date of issue" to "As of the date of issue" regarding when insurers can use non-fraudulent misstatements as a defense.

Removes the restriction that previously allowed insurers only within a 2-year period to defend against claims based on applicant misstatements in the application.

Effective date: November 1, 2011.