Earthquake Insurance Rate Increases Of Up To 100% Trigger Public Hearing In Oklahoma

Oklahoma Insurance Commissioner John Doak has ordered a public hearing to investigate a rise in earthquake insurance rates in the state. A few insurers have filed rate increases of up to 100 percent for earthquake insurance in the state, Doak said in an interview. "This is a proactive consumer measure," Doak said. "We’ve had a lot of consumers get rate increases. We don’t know really what is justifying them." Kelly Dexter, a spokeswoman for the Insurance Department, said the companies that have filed for rate increases are not public yet because the increases have not taken effect yet.