Oklahoma: Problematic Rate Regulation Legislation

To: All NAMIC Members Doing Business in Oklahoma and Other Interested Parties

Deadline: Tuesday, Feb. 17, 2026, 12 p.m. Central Time

Action: Contact Your Representative on the House Insurance Committee to Ask for a ‘NO’ Vote on HB 3646 and HB 3696

The Oklahoma House Insurance Committee will consider two highly problematic bills on Tuesday afternoon – HB 3646 and HB 3696. These bills would move Oklahoma’s property/casualty insurance market from a largely use-and-file-in-competitive-markets program to a more formal government-regulated filing-and-approval structure.

These bills would impose significant government restrictions on insurers’ ability to adjust rates as needed. In addition to dramatically slowing down the pace of rate adjustment, they would give the insurance commissioner power to require a specific insurer to file all rates for prior approval where there are concerns about financial condition, rating practices, or a statewide insurance emergency, effectively creating a targeted prior-approval regime.

Please contact your state representative on the committee to ask him or her to vote NO on HB 3646 and HB 3696. The Oklahoma Legislature should prioritize policies that attract new insurance capital into the state’s insurance marketplace rather than erecting barriers and restrictions on how insurers set rates. These bills would have a significant impact on insurers matching rate to risk.

Please contact your state representative to ask him or her to vote NO on HBs 3646 and 3696.