Oklahoma § 36-1250.9 - Periodic reports

§ 36-1250.9. Periodic reports

A. If the Insurance Commissioner determines, based on an

investigation of complaints of unfair claim settlement practices,

that an insurer has engaged in unfair claim settlement practices

with such frequency as to indicate a general business practice and

that such insurer should be subjected to closer supervision with

respect to such practices, the Commissioner may require the insurer

to file a report at such periodic intervals as the Commissioner

deems necessary. The Commissioner shall also devise a statistical

Oklahoma Statutes - Title 36. Insurance

plan for such periodic reports, which shall contain but not be

limited to the following information:

1. The total number of written claims filed, including the

original amount filed for by the insured and the classification by

line of insurance of each individual written claim, for the past

twelve-month period or from the date of the insurer's last periodic

report, whichever time is shorter;

2. The total number of written claims denied, for the past

twelve-month period or from the date of the insurer's last periodic

report, whichever time is shorter;

3. The total number of written claims settled, including the

original amount filed for by the insured, the settled amount, and

the classification of line of insurance of each individual settled

claim, for the past twelve-month period or from the date of the

insurer's last periodic report, whichever time is shorter;

4. The total number of written claims for which lawsuits were

instituted against the insurer, including the original amount of the

claim filed for by the insured, the amount of final adjudication,

the reason for the lawsuit and the classification by line of

insurance of each individual written claim, for the past twelvemonth period or from the date of the insurer's last periodic report,

whichever time is shorter; and

5. All information required by paragraph 14 of Section 1250.5

of this title.

B. For the purposes of this section, "written claims" means

those claims reduced to writing and filed by a resident of this

state with an insurer.

Added by Laws 1986, c. 315, § 7, emerg. eff. June 24, 1986. Amended

by Laws 1992, c. 74, § 3, eff. Sept. 1, 1992; Laws 1994, c. 342, §

9, eff. Sept. 1, 1994. Renumbered from § 1223 of this title by Laws

1994, c. 342, § 20, eff. Sept. 1, 1994. Amended by Laws 1994, 2nd

Ex. Sess., c. 1, § 6, emerg. eff. Nov. 4, 1994; Laws 2013, c. 254, §

21, eff. Jan. 1, 2015; Laws 2024, c. 195, § 6, eff. Nov. 1, 2024.