OK SB1438

Requires personal auto insurers to file annual financial data with the Insurance Commissioner by July 1, including earned premiums, incurred losses, expenses, and policyholder dividends

Defines "excessive profit" as underwriting gains over the most recent 3 calendar years that exceed anticipated profit plus 5% of earned premiums

Mandates insurers deemed to have excessive profits refund the excess amounts to policyholders on a pro rata basis, either as cash within 60 days or as credits toward future premiums

Exempts insurers from refund requirements if returning excessive amounts would render them financially impaired or insolvent

Effective date: November 1, 2026