OK SB1616

Establishes the "Controlled Insurance Programs Act" in Oklahoma law, creating a framework for owners and contractors to establish group insurance programs covering participants in construction projects.

Requires controlled insurance programs to include quarterly claims reporting, prevent cancellations without replacement coverage until project completion, limit deductibles to $2,500 for non-sponsoring participants, and ensure self-insured retentions are fully funded or collateralized.

Mandates that general liability coverage include completed operations liability protection for up to 10 years after substantial completion, provide severability of interests among participants, and prohibit participants from waiving recovery rights against other program participants.

Specifies workers' compensation coverage must include all workers performing construction services and prohibits requiring injured workers to return to work without physician certification of fitness and available positions.

Requires the Insurance Commissioner to promulgate implementing rules by January 1, 2013, with the act becoming effective July 1, 2012, declared an emergency measure.