SB 1754 Summary

• Property and casualty insurers licensed in Oklahoma who write commercial insurance must provide clients with their commercial loss history upon written request.

• Insurers must provide the requested loss history for the past 36 months within 15 calendar days of receiving the client's request, whether postmarked or submitted electronically.

• Insurers that fail to comply with this requirement without good cause are subject to a fine of $100 per day for each day they fail to comply with the request, payable to the Oklahoma Insurance Department.

• The bill creates a new section of law codified as Section 311A.19 of Title 36 of the Oklahoma Statutes.

• The act became effective November 1, 2014.