Oklahoma Earthquake Insurers Will Need Approval For Rate Increases

  Monday, June 13th, 2016 Source: Live Insurance News

State Insurance Commissioner John Doak has now determined that the Oklahoma earthquake insurance market is not currently functioning in a way that can be considered to be competitive. The commissioner has now issued an order that will alter the way earthquake insurance rates are changed. The order has been issued with the intention of altering the way Oklahoma earthquake insurance rate increases are filed with the Insurance Department, in order to make certain that consumers are benefiting from a purchasing environment with adequate competition.

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