OK HB2957

Amends Oklahoma insurance law (36 O.S. 2021, Section 3629) to create separate rules for property insurance claims as defined in Section 704

Eliminates the prevailing party's ability to recover costs and attorney fees in property insurance claim disputes

Removes the 15% annual interest penalty on verdicts that courts currently add when insured policyholders win property insurance lawsuits

Maintains existing 60-day deadline for insurers to submit written settlement offers or claim rejections after receiving proof of loss

Effective date: November 1, 2026