Oklahoma HB 1256 Summary

• Requires the Risk Management Administrator to obtain workers' compensation insurance coverage for all state agencies through a centralized process, regardless of whether they are subject to the Oklahoma Central Purchasing Act.

• Creates a new "Workers' Compensation Insurance Account" within the Risk Management Revolving Fund to maintain separate accounting for workers' compensation coverage and expenses.

• Mandates that state entities obtain workers' compensation insurance from CompSource Oklahoma unless it refuses the risk, the purchase is specifically authorized by law, or equal or lower-cost coverage is available from another licensed carrier.

• Removes previous exemptions that allowed the Risk Management Administrator to exclude workers' compensation insurance from the comprehensive risk management program.

• Effective July 1, 2013, with an emergency declaration for immediate implementation.