Oklahoma § 36-332 - Commissioner examinations and investigations

§ 36-332. Commissioner examinations and investigations

A. The Insurance Commissioner may conduct such examinations and

investigations of matters, within the scope of the authority of the

Commissioner, as the Commissioner may deem proper to secure

information useful in the lawful administration of the applicable

provisions of the Oklahoma Insurance Code and other statutes for

which the Commissioner has jurisdiction.

B. The Insurance Commissioner shall have the authority to

employ actuaries, statisticians, accountants, attorneys, auditors,

investigators or any other technicians as the Insurance Commissioner

may deem necessary or beneficial to examine any filings for rate

revisions made by insurers or advisory organizations and to examine

such records of the insurers or advisory organizations as may be

deemed appropriate in conjunction with the filing for a rate

revision in order to determine that the rates or other filings are

consistent with the terms, conditions, requirements and purposes of

the Insurance Code, and to verify, validate and investigate the

information upon which the insurer or advisory organization relies

to support such filing.

1. The Commissioner shall maintain a list of technicians

qualified pursuant to rules adopted by the Commissioner who are

proficient in the lines of insurance being reviewed. Upon request

of the Commissioner, the Commissioner shall employ the next

available technician in rotation on the list, proficient in the line

or lines of insurance being reviewed. The Commissioner may deviate

from the list when employing technicians for loss cost filings

pursuant to Section 901.5 of this title.

2. All reasonable expenses incurred in such filing review shall

be paid by the insurer or advisory organization making the filing.

C. The Commissioner shall employ examiners to ensure that the

rates which have been approved by or filed with the Commissioner are

the rates which are being used by the insurer or by the insurers

whose advisory organization has had a rate approval or rate filing.

1. Any insurer or company examined pursuant to the provisions

of this section shall pay all reasonable charges incurred in such

examination including the actual expense of the Commissioner and the

expenses and compensation of the authorized representative of the

Commissioner and the expense and compensation of assistants and

examiners employed therein.

2. All expenses incurred in such examination shall be verified

by affidavit and a copy shall be filed and kept in the office of the

Insurance Commissioner.

Added by Laws 1957, p. 226, § 332, operative July 1, 1957. Amended

by Laws 1965, c. 60, § 5, eff. July 1, 1965; Laws 1979, c. 276, § 2,

emerg. eff. June 5, 1979; Laws 1980, c. 322, § 6, eff. Jan. 1, 1981;

Laws 1986, c. 207, § 79, operative July 1, 1986; Laws 1987, c. 210,

§ 5, eff. July 1, 1987; Laws 2001, c. 363, § 4, eff. July 1, 2001;

Oklahoma Statutes - Title 36. Insurance

Laws 2006, c. 264, § 7, eff. July 1, 2006; Laws 2021, c. 472, § 7,

emerg. eff. May 11, 2021; Laws 2024, c. 345, § 9, eff. Nov. 1, 2024.