OK HB1335

Amends Oklahoma insurance law to require all motor vehicle liability policies to include uninsured motorist coverage for both bodily injury and injury to or destruction of property resulting from uninsured or hit-and-run vehicles.

Establishes minimum coverage limits of $25,000 per person/$50,000 per occurrence for bodily injury or death and $25,000 for property damage, with option to purchase higher limits not exceeding the liability policy limits.

Authorizes insurers to recover settlements or judgments from insureds who receive uninsured motorist payments, provided the insurer substitutes payment within 60 days of written notice of a tentative settlement.

Specifies that changes to existing policies do not constitute new policies and do not require completion of new coverage selection forms if the insured previously rejected or selected uninsured motorist coverage.

Becomes effective November 1, 2015.