OK SB791

Prohibits insurance contracts from being retroactively annulled by agreement between insurer and insured after an injury, death, or property damage occurs for which the insured may be liable.

Declares any attempted retroactive annulment of liability insurance void.

Creates an exception for claims-made-and-reported form liability insurance policies, allowing annulment unless there is actual notice that a claim or potential claim has been made against the insured and reported to the insurer.

Becomes effective November 1, 2015.