Posts by: Britney Han

Insurance Commissioner Confirms COVID-19 Vaccinations Won’t Affect Life Insurance Benefits

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Oklahoma Insurance Department

For Immediate Release:
March 18, 2021 

Insurance Commissioner Confirms COVID-19 Vaccinations Won’t Affect Life Insurance Benefits 

 

OKLAHOMA CITY – Oklahoma Insurance Commissioner Glen Mulready confirms that COVID-19 vaccinations won’t affect policyholder’s life insurance benefits. He also urges Oklahoma consumers to be cautious about social media misinformation regarding COVID-19 vaccinations. Social media posts have falsely indicated that getting a COVID-19 vaccine could threaten life insurance coverage claiming they are experimental and not tested for safety. 

“This is simply not true,” said Commissioner Mulready. “Whether it’s Pfizer, Moderna or Johnson & Johnson, these vaccines received Emergency Use Authorizations after the Food and Drug Administration determined their safety and efficacy. I assure you that getting a COVID-19 vaccine will not impact your life insurance benefits.”

Tyler Laughlin, Regional Vice President of the American Council of Life Insurers, agreed.

“Life insurance policies are very clear on what might cause your insurer to deny a benefit,” said Laughlin. “Policyholders should rest assured that nothing has changed in the claims-paying process as a result of COVID-19 vaccinations.” 

Commissioner Mulready encourages Oklahomans to contact their insurer if they have any questions or concerns about the details of their life insurance policies.

If you have questions about other insurance issues, contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.  

  

For more information, contact: 
Liz Heigle
405-522-0683
Liz.Heigle@oid.ok.gov 

Vinita Fire Department’s New PPC Rating Provides Better Protection for Residents

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Oklahoma Insurance Department

For Immediate Release:
March 10, 2021

 

Vinita Fire Department’s New PPC Rating Provides Better Protection for Residents

 

OKLAHOMA CITY – The Vinita Fire Department (VFD) has received a new Public Protection Classification (PPC) rating from the Insurance Service Office (ISO). The VFD’s rating has improved from a Class 5 to a Class 2. The rating scale is from 1-10, with 10 being the lowest. The ISO rates over 45,000 fire departments in the United States. Only 3% of them have a Class 2 rating, making the Vinita Fire Department one of only 1,243 preeminent fire departments in the nation.

“It’s almost unheard of for a small–town fire department to achieve such a high rating,” Insurance Commissioner Glen Mulready said. “It demonstrates the department’s commitment and determination to provide the very best protection for their community.”

Commissioner Mulready also said the Oklahoma Insurance Department (OID) offers free consulting and educational resources for fire departments and communities interested in improving their PPC rating and mitigating fire risk.

“This is an impressive accomplishment for the Vinita Fire Department as they join the ranks of those high–performing Class 2 departments,” OID’s ISO Field Coordinator Lois Spinn said. “Here at OID, we have the expertise in risk reduction to assist Oklahoma’s fire departments and communities in their efforts to maximize their PPC evaluations as a no–cost information resource.”

In Oklahoma, there are over 740 fire departments. Still, only six have earned the Class 1 rating and about 33 departments the Class 2 rating. This lowered risk rating may help residents and businesses save on insurance premiums gradually. It is important to check with your insurance company to see if the new rating will translate to lower premiums.

The new rating takes effect on May 1, 2021. For more information on community risk reduction, please contact Lois Spinn at lois.spinn@oid.ok.gov.

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov. 

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Insurance Commissioner Mulready Announces New Director of Consumer Assistance and Deputy General Counsel

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Oklahoma Insurance Department

For Immediate Release:
February 24, 2021

Insurance Commissioner Mulready Announces New Director of Consumer Assistance and Deputy General Counsel

 

OKLAHOMA CITY – Oklahoma Insurance Commissioner Glen Mulready announced today the promotion of two current employees to key department roles. Donna Dorr was hired as Director of Consumer Assistance and Teresa Green was named Deputy General Counsel.

Dorr began her tenure at OID in 1995 and has spent most of her time serving as a Life and Health Analyst. Most recently, Dorr served as a Senior Claims Reviewer and Processor handling the external review process and training incoming Life and Health Analysts.

Green joined OID in 2018, and since that time, has served as Assistant General Counsel. Last year, Green briefly filled the role of Assistant Commissioner of Licensing Services and Policy Counsel. She returned to the Legal division in late 2020. Green graduated from the Oklahoma City University School of Law.

“I am very excited to have Donna and Teresa in these important roles,” Commissioner Mulready said. “They are dedicated employees who lead by example in everything they do, and I look forward to working with them as we continue our mission to serve and protect Oklahoma consumers.”

The new positions became effective February 1, 2021.

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.  

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

New Opportunity for Oklahomans to Purchase Health Insurance During Marketplace Special Enrollment Period

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Oklahoma Insurance Department

FOR IMMEDIATE RELEASE:
February 11, 2021

 

New Opportunity for Oklahomans to Purchase Health Insurance During Marketplace Special Enrollment Period

 

OKLAHOMA CITY – A 2021 Special Enrollment Period (SEP) for individual health insurance plans under the Affordable Care Act (ACA) will begin next Monday, February 15, 2021. Oklahomans who do not have health insurance may be eligible to purchase coverage through the health insurance marketplace. The SEP was created following the Executive Order issued by President Biden on January 28, 2021. Beginning February 15, 2021 through May 15, 2021 **NEW EXTENSION DATE from May 15, 2021 to August 15, 2021**, this SEP will be open to all exchange-eligible consumers who are submitting a new application or updating an existing application. 

“We all understand how important it is to have health insurance and access to affordable health care during this unprecedented time,” said Insurance Commissioner Glen Mulready. “In light of the pandemic, Oklahomans have become very aware of the value of health insurance. This is an opportunity to assess your family’s needs during this Special Enrollment Period.”

There are six insurers that offer individual health plans on the 2021 health insurance Marketplace in Oklahoma: Blue Cross Shield of Oklahoma (BCBSOK), Bright Health, Medica Insurance Company, Oscar Health, UnitedHealthCare (UHC) and CommunityCare Oklahoma (CCOK). BCBSOK and Medica offer statewide plans while Bright Health, CCOK, Oscar and UHC serve limited areas of the state. 

The SEP will allow individuals and families to enroll in 2021 health insurance coverage through HealthCare.gov or by contacting the HealthCare.gov Marketplace call center. Visit HealthCare.gov to verify eligibility, view plan options and estimate monthly premiums. Coverage will be prospective on the first day of the month following the application date. No health questions will be asked and no pre-existing condition waiting periods apply. You can also determine if you qualify for Medicaid and the Children’s Health Insurance Program (CHIP) at https://www.healthcare.gov/medicaid-chip/.

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.  

 

For more information, contact:
Liz Heigle
405-819-2221
Liz.Heigle@oid.ok.gov

Protect the People You Love This Valentine’s Day

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Oklahoma Insurance Department

For Immediate Release:
February 10, 2021

 

Protect the People You Love This Valentine’s Day

By Oklahoma Insurance Commissioner Glen Mulready

February is all about love and support. Many of us are searching for the perfect gift for our Valentine. According to the National Retail Federation’s 2021 Valentine’s Day spending survey, Americans plan to spend an average of $165 on their loved ones this Valentine’s Day. Over 70% of them feel celebrating this year is important given the state of the pandemic. With the pandemic still affecting our lives, have you considered giving the gift of security to your loved ones this year? Instead of getting roses, chocolates or jewelry, consider insuring your love by getting the protection your loved ones need.

Many people overestimate the cost of life insurance. According to the Insurance Barometer Study, people think life insurance costs three times more than it does. The average price of a term life insurance policy for someone in their 30’s is $16 per month or $192 a year. That’s only $27 more than the average person will spend on Valentine’s Day this year.

Here are some tips to help you choose the right type of life insurance for you and your Valentine.

Term Life Insurance 

Term life insurance provides coverage over a specified period (term). Typically, term insurance policies are written for 1, 5, 10, or 20 years or to a specified age such as 65. Term life insurance is intended to provide lower-cost coverage for a specific period.

Term life policies may include a provision that allows coverage to continue at the end of the term, even if your health status has changed. However, those premiums may be higher than the actual policy. Ask what the premiums will be before you renew. Also, ask if you lose the right to renew at a certain age. If the policy is non-renewable, you will need to apply for coverage at the end of the term.

Permanent Life Insurance 

A permanent policy pays a death benefit whether you die tomorrow or live to be over 100. These policies also have savings or investment features, making it possible for policy owners to get money from the policy while still alive. Whole life, universal life and variable life are types of cash value policies.

Premiums for permanent policies are generally higher than for term insurance, but it remains the same no matter how old you are.

There are many different life insurance policies, and shopping for the right coverage can be intimidating. Contact your insurance agent if you have any questions. He or she can help you figure out how much insurance you need, assist you with the application and help you understand the policy terms.

For more insurance information, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Oklahoma Insurance Department Announces New Captive Coordinator

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Oklahoma Insurance Department

For Immediate Release:
February 3, 2021

 

Oklahoma Insurance Department Announces New Captive Coordinator

 

OKLAHOMA CITY – The Oklahoma Insurance Department (OID) has recognized Donald Ashwood as its new Captive Coordinator. The position will continue coordinating increased activity with captive insurers in Oklahoma. Ashwood joined the OID in 2014 and most recently served as Financial Operations Officer. 

“Captive insurance is a fast-growing and important part of Oklahoma’s economy,” said Insurance Commissioner Glen Mulready. “Donald’s knowledge and experience with captive insurance will ensure that Oklahoma continues to be an extremely competitive jurisdiction with a supportive and efficient captive formation process.”

A captive insurance company provides great flexibility to business owners who want to take control of their insurance programs. Captives exist to underwrite the risk of their owner(s) and affiliates. The OID’s Captive Insurance Division has pledged to make customer service a top priority as it recruits new companies. Oklahoma now has 40 licensed captives, with three new licenses issued last year.

“It is gratifying to see companies of varying industries across the country recognize Oklahoma as both a highly competitive and responsive captive jurisdiction. Along with a favorable captive regulatory platform, Oklahoma is a great place to do business,” said Ashwood. “I look forward to continued growth in the Oklahoma Captive Industry, and I am committed to help bring that to fruition.”

Ashwood looks forward to working closely with a new Captive Director in the near future. OID is currently recruiting for this position. Interested candidates should contact Andy Schallhorn at andrew.schallhorn@oid.ok.gov for more information.

Ashwood began his new role on February 1, 2021.

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Insurance Checklist for 2021

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Oklahoma Insurance Department

For Immediate Release:
January 26, 2021

Insurance Checklist for 2021

By Oklahoma Insurance Commissioner Glen Mulready 

The start of a new year is a great time to reevaluate your insurance policies. Why now? The calendar change gives us a reminder to do something that we often forget about the rest of the year. It’s like replacing the batteries in your smoke detectors when the clocks change.

Think about the new “normal” we’re living in right now. Does COVID-19 have you spending more time at home? Did you have a baby? Get married? Purchase a new home or car? Work on new home improvement projects? If so, you’ll want to check whether you have the right policy protection. Take some time to talk with your agent and review your policies to see if they meet your current needs. Even if you haven’t experienced a life-changing event, you could be eligible for discounts or new insurance products that may serve your needs better.

Homeowners Insurance 

When reviewing your homeowners or renters insurance, think about what’s changed over the last year. Do you have new, expensive possessions that you received over the holidays? What about other things you’ve acquired this year? Will your insurance cover the full value of these items if they are damaged or stolen? Also, consider liability coverage. For example, suppose you got a new puppy or a trampoline for the holidays. In that case, you may want to check with your insurance agent or company to ensure that you have the necessary liability coverage.

This is also a great time to update your home inventory. Take some photos or videos of your prized possessions. Remember to note any antique items and their value so you can talk with your insurance agent or insurance company to ensure that they are properly covered. If you need to create a home inventory, visit our Home Inventory Checklist page.

Auto Insurance 

Your auto insurance needs commonly change from year to year. Review the list below to see what other things you need to think about when it comes to your auto insurance. Talk to your agent or insurance company to get information and make decisions.

  • Make sure your coverage is appropriate for your life situation. Liability is the part of the policy that pays for any injury or damage if you cause an accident. If your liability insurance is too low, it is possible that you could be sued for any damages above your liability limits.
  • Review your deductibles for comprehensive and collision coverage. This is the amount you will pay if your car is damaged or totaled without another driver’s fault or by an uninsured driver. Raising or lowering this amount can affect your premium.
  • Do you have medical payments or uninsured motorists coverage? These types of coverage pay medical costs if you are injured in an automobile accident.
  • What about the outdoor toys? Do you have your boat, boating equipment and recreational vehicles adequately insured?

For more insurance information, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Commissioner Mulready Named Vice Chair of NAIC Life Insurance and Annuities (A) Committee

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Oklahoma Insurance Department

For Immediate Release:
January 14, 2021

Commissioner Mulready Named Vice Chair of NAIC Life Insurance and Annuities (A) Committee

 

OKLAHOMA CITY – On January 12, 2021, Oklahoma Insurance Commissioner Glen Mulready was appointed Vice Chair of the National Association of Insurance Commissioners’ (NAIC) Life Insurance and Annuities (A) Committee for the 2021 term.

“More people are buying life insurance for the first time as the pandemic has reminded us of what really matters,” said Mulready. “It is important for regulators to make sure that insurance companies are financially stable and can take care of consumers and their families if they ever need it. As Vice Chair of the NAIC’s Life Insurance and Annuities Committee, I look forward to working hard on important life insurance issues.”

Commissioner Mulready’s other leadership positions with the NAIC include:

  • Recently Elected Vice Chair of the Midwest Zone for 2021
  • Government Relations Leadership Council
  • Health Insurance and Managed Care (B) Committee

The NAIC is the U.S. standard-setting and regulatory support organization created and governed by insurance regulators from all 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review and coordinate regulatory oversight.

The mission of the Life Insurance and Annuities (A) Committee is to consider issues relating to life insurance and annuities and review new life insurance products. More information about this committee can be found at https://content.naic.org/cmte_a.htm.

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Insurance Commissioner Mulready Announces New General Counsel

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Oklahoma Insurance Department

FOR IMMEDIATE RELEASE:
January 5, 2021

Insurance Commissioner Mulready Announces New General Counsel

OKLAHOMA CITY – Oklahoma Insurance Commissioner Glen Mulready has named Kim Bailey as General Counsel for the Oklahoma Insurance Department (OID). Bailey currently serves as General Counsel and Chief Operating Officer at the Oklahoma State Department of Health (OSDH).

 

“I have known Kim for several years and consider her to be one of the best attorneys in state government,” Mulready said. “Kim has been a leader on Oklahoma’s COVID-19 response while working at OSDH and was instrumental in the development and success of the Worker’s Comp Commission while serving as their General Counsel and Executive Director. Her experience across state government, dedication to the law, and passion for Oklahoma make her a great asset to our team.”

 

While at the Worker’s Comp Commission, Bailey reviewed self-insured and third-party administrator applications, implemented their electronic filing system for all workers’ compensation carriers, managed appeals to the Commission and developed final orders.


Kim currently handles employment law issues, ensures compliance with laws related to over 70 federal grants, and advises staff on a wide array of regulatory and compliance issues at the State Department of Health. This includes managing administrative hearings and litigation matters.


Over the past several months, she has navigated a wide array of unprecedented legal questions arising from Oklahoma’s COVID-19 response, many of which are related to HIPAA compliance and protecting personally identifiable information (PII) under state law. Kim worked with the Governor’s team and Secretary of State’s counsel to draft emergency Executive Orders and oversaw finance’s administration of over $200M in CARES Act funds received by the state, ensuring judicious use of resources while maintaining financial transparency.


“I am excited about this new challenge and look forward to working with Commissioner Mulready and the team at OID in this new role,” Bailey said. “I believe my previous roles will benefit the agency. I have always been an advocate for Oklahoma consumers and the mission of the Oklahoma Insurance Department is vital to serving both consumers and businesses.”

 

Bailey will begin her new role on January 19, 2021.

 

For more information, contact:
Liz Heigle
405-819-2221
Liz.Heigle@oid.ok.gov

Norman Fire Department Provides Better Protection for Residents

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Oklahoma Insurance Department

For Immediate Release:
December 30, 2020

Norman Fire Department’s Latest Achievement Provides Better Protection for Residents

 

OKLAHOMA CITY – The Norman Fire Department has achieved the highest Public Protection Classification (PPC) rating from the Insurance Service Office (ISO). The ISO rates over 50,000 fire departments in the United States. Less than 1% of them have a Class 1 rating, making the Norman Fire Department one of only 388 preeminent ISO rated fire departments in the nation.

“This is a great achievement for the Norman Fire Department and great news for the Norman community,” Insurance Commissioner Glen Mulready said. “This superior rating means a fire department is better equipped to respond to fires. I appreciate the Norman Fire Department’s dedication and commitment to making their community a safer place to live.”

“This award demonstrates the hard work and dedication of the Fire Department and the community’s investment in protection and risk reduction efforts for the safety of their citizens and businesses,” said ISO Field Coordinator Lois Spinn.

Commissioner Mulready also said the Oklahoma Insurance Department (OID) offers consulting and educational resources for fire departments and communities interested in improving their PPC rating and mitigating fire risk.

“Here at OID, we have the expertise and experience in risk reduction to assist Oklahoma’s fire departments and communities in their efforts to maximize their PPC evaluations as a no-cost information resource,” said Spinn.

In Oklahoma, there are over 740 fire departments, but only five have earned the Class 1 rating. Norman now joins Oklahoma City, Midwest City, Lawton, Tulsa and Broken Arrow in the Class 1 rating. This top rating may help residents and businesses save on insurance premiums gradually. The new rating takes effect on March 1, 2021. For more information on community risk reduction, please contact Lois Spinn at lois.spinn@oid.ok.gov.

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.