Oklahoma legislation · 2026 Regular Session
Oklahoma SB1592: Insurance; allowing rates to be excessive; allowing Commissioner to send objections to certain rates; requiring rates to be filed prior to effective date; establishing rate requirements. Effective date. Emergency.
Status: In committee, March 30, 2026
What the bill says
From the engrossed text, March 26, 2026:
ENGR OSSED SENATE BILL NO. 1592 By: Rosino and Reinhardt of the Senate and Stinson of the House [ insurance - excessive - discriminatory - rates - information - submissions - notice - consideration - hearing - burden - premium return - interest - time period - discontinuance - effective date ] BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: SECTION 1. AMENDATORY 36 O.S. 2021, Section 985, is amended to read as follows: Section 985. Ratemaking Standards. A. A rate may not be excessive, inadequate or unfairly discriminatory. 1. No rate in a competitive market may be determined to be excessive. A rate in a noncompetitive market may be determined to be excessive if it, based on actuarial review, the rate is likely to produce a profit that is unreasonably high for the insurance provided. The Insurance Commissioner shall send an objection to the insurer and shall give the insurer the opportunity to respond and provide additional supporting information prior to making a final determination that the rate is excessive. 2. A rate may not be determined to be inadequate unless: ENGR. S. B. NO. 1592 Page a. the rate is clearly insufficient to sustain projected losses, expenses and special assessments, and b. the rate is unreasonably low and use of the rate by the insurer …
Sponsors
- Aaron Reinhardt (R, SD-037)
- Paul Rosino (R, SD-045) · primary sponsor
Latest actions
- : Referred to Insurance
- : Second Reading referred to Commerce and Economic Development Oversight
- : First Reading
- : Engrossed to House
- : Referred for engrossment
- : Measure passed: Ayes: 44 Nays: 1
- : Ayes: 36 Nays: 8
- : Advanced to Third Reading
- : General Order, Amended by Floor Substitute
- : Coauthored by Representative Stinson (principal House author)
Votes
- Third Reading (March 25, 2026): 44 yea, 1 nay, passed
- Floor Vote (March 25, 2026): 36 yea, 8 nay, failed
- Senate Business & Insurance Committee (March 5, 2026): 9 yea, 1 nay, passed
Subjects: Insurance
Common questions
- What is SB1592?
- SB1592 is a bill in the Oklahoma Legislature (2026 Regular Session): Insurance; allowing rates to be excessive; allowing Commissioner to send objections to certain rates; requiring rates to be filed prior to effective date; establishing rate requirements. Effective date. Emergency.
- What is the status of SB1592?
- In committee as of March 30, 2026. Latest action: Referred to Insurance (March 30, 2026).
- Who sponsored SB1592?
- Paul Rosino (R, SD-045), with 1 co-sponsor.
- Where is the official record for SB1592?
- On the Oklahoma Legislature website: https://www.oklegislature.gov/BillInfo.aspx?Bill=SB1592&Session=2600
Source: official Oklahoma record. Tracked by Delilah, AI for legislation across all 50 states and Congress.