Oklahoma Commissioner: Insurance Policies to Remain in Place

Oklahoma Insurance Commissioner John D. Doak placed a moratorium on all insurance non-renewals, cancellations and terminations for affected areas in the wake of the tornado and severe storms that occurred in central Oklahoma May 19-20.

The commissioner’s bulletin released requests insurers to not cancel, non-renew or terminate coverage while the Disaster Emergency Executive Order 2013-20 remains in effect, allowing consumers to take actions necessary to keep their policies in force.

Additionally, any rate increases for insurance policies in affected counties dated on or after May 19, 2013 are to be deferred during the pendency of this emergency with coverage remaining in effect at the previously established rate.

Recent protocol put into place by the Oklahoma Insurance Department is requiring any licensed public adjuster performing services in the affected counties to exhibit their adjuster license to a prospective client before entering into contract.

Insurers are also being requested to allow policyholders in these areas to obtain refills of their medications under their prescription drug coverage even if recently filled.

Source: Oklahoma Insurance Department

Topics Oklahoma