OK HB2445

Requires CompSource Oklahoma to operate as a workers' compensation insurer subject to Title 36 of Oklahoma Statutes effective November 1, 2012, and obtain a certificate of authority from the Department of Insurance.

Designates CompSource Oklahoma as a "member insurer" under the Oklahoma Property and Casualty Insurance Guaranty Association, but limits its liability for assessments and insolvency claims to injuries occurring after November 1, 2012.

Requires CompSource to operate with actuarially sound rates developed by an independent actuary and file rates under Title 36 requirements, including payment of premium taxes and maintenance taxes.

Establishes that CompSource Oklahoma Board of Managers shall function as a governing body of a domestic mutual insurance company with authority to propose rates and engage independent actuaries.

Specifies that CompSource losses are solely its responsibility and funded through premiums, except for reinsurance purchased by CompSource or the Oklahoma Property and Casualty Insurance Guaranty Association.