Oklahoma Legislative Updates 2021

Oklahoma Legislative Updates 2021

This course meets the Oklahoma Department of Insurance (OID) requirement for two hours on the subject of the state legislative updates.

This course presents a summary of the legislation undertaken by the Oklahoma Legislature affecting insurance producers, companies, and adjusters as a result of the First Regular Session of the 57th Legislature in 2021.

We identify relevant parts of the Oklahoma Insurance Code, Title 36, that changed during this legislative session and that affect licensees regulated by the Oklahoma Insurance Department, specifically those that relate to insurance producers, companies, and adjusters.

Upon conclusion of this course, students will know:

  • The many changes that were made to the Oklahoma Insurance Code in 2021 resulting from the First Regular Session of the 57th Legislature, which affect life and health insurance professionals, property and casualty professionals, and the regulation of the state’s insurance business in general.

Course Objectives

  • Examine the 2021 legislative changes affecting Oklahoma’s insurance industry; and
  • identify 2021 Administrative Code Changes

Major Subjects Covered

  • 2021 Oklahoma Insurance Legislation Changes Affecting:
    1. Premium Rate Filings Exemption
    2. Mental Health Parity Act
    3. Administrative Rules Changes
    4. Filings and Policy Approvals, Certificates and Premium Rates
    5. Retail Pharmacy Network Access: Audit
    6. Contractual Requirements: Maximum Allowable Cost
    7. Commissioner’s Authority: Advisory Committee
    8. Inquiry/Complaint Handling Process
    9. Regulatory Compliance and Insurer Operation Changes
    10. Captive Premium Tax Reallocation
    11. General Changes to Oklahoma Insurance Law
    12. The Protected Cell Companies Act
    13. Internal audits for insurers
    14. Corporate governance annual disclosure
    15. Self-Service Storage Insurance as a Limited Lines License Authority
    16. Short-Term, Limited Duration Health Insurance
    17. Dental Care – Prior Authorization

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Hours: 2 Legislative Updates