HB 2238 Summary

• Allows the Insurance Commissioner to fix compensation for appointed deputies, assistants, examiners, actuaries, and attorneys rather than specifying fixed salaries.

• Makes data calls and Market Conduct Annual Statements procured during insurance examinations confidential and not subject to subpoena.

• Limits insurance company investments in mortgage loans to 25% of admitted assets (single mortgage loans capped at 4%) and restricts real property investments to 35% of admitted assets.

• Modifies allowable real property types for insurance company investment to exclude agricultural and ranch properties unless adjacent to previously authorized holdings acquired before July 1, 2006.

• Removes exemptions from Risk-based Capital (RBC) requirements for certain domestic health maintenance organizations that contract with the Oklahoma Health Care Authority for Medicaid services only; effective November 1, 2017.