OK HB3696

Requires all property and casualty insurers to file rates, rating manuals, and supplementary rating information with the Insurance Commissioner, with rates usable on and after the filing date

Insurance Commissioner must disapprove non-compliant rates within 30 days of filing (extendable once for good cause), and must issue an order specifying deficiencies if rates are disapproved

Exempts large commercial risks from filing requirements: insureds with $5 million+ in property values, $10 million+ in annual gross revenues, or premiums of $25,000+ for property/liability insurance

Small insurers with less than 2% market share in residential property insurance (where over 50% covers properties under $100,000) are exempt from rate filing unless proposing 10%+ annual increases or averaging 8%+ increases for three consecutive years

Repeals existing Section 984 (presumption of competitive market) and Section 987 (rate filings), effective November 1, 2026