BULLETIN NO. 4-2022
|To:||ALL PROPERTY AND CASUALTY INSURERS LICENSED IN OKLAHOMA|
|Re:||HOUSE BILL 3495 & 36 O.S. §1250.5|
|From:||GLEN MULREADY, INSURANCE COMMISSIONER|
|Date:||May 31, 2022|
PURPOSE OF THIS BULLETIN
The purpose of this bulletin is to inform all property and casualty insurers of the changes made to the Unfair Claim Settlement Practices found at 36 O.S. 1250.5(7), effectuated by House Bill 3495.
Effective May 16, 2022, 36 O.S. §1250.5(7) has been amended to state “any policy that specifies a time limit covering damage to a roof due to wind or hail must allow the filing of claims after the first anniversary but no later than twenty-four (24) months after the date of the loss, if the damage is not evident without inspection.”
The Department also encourages consumers/insureds to have their roofs inspected by a reputable expert once a year or after a major hail or wind event.
The Oklahoma Insurance Department encourages readers of this bulletin to periodically check the Department’s website at http://www.ok.gov/oid/ for news and updates to bulletins and other relevant material.
Questions applicable to this bulletin should be directed to:
Jason Johnston, Consumer Assistance Division, at Jason.Johnston@oid.ok.gov; or
Bo DeBose, Legal Division, at Bo.Debose@oid.ok.gov