Section 1250.9 - [Effective 11/1/2024] Periodic reportsA. If the Insurance Commissioner determines, based on an investigation of complaints of unfair claim settlement practices, that an insurer has engaged in unfair claim settlement practices with such frequency as to indicate a general business practice and that such insurer should be subjected to closer supervision with respect to such practices, the Commissioner may require the insurer to file a report at such periodic intervals as the Commissioner deems necessary. The Commissioner shall also devise a statistical plan for such periodic reports, which shall contain but not be limited to the following information:1. The total number of written claims filed, including the original amount filed for by the insured and the classification by line of insurance of each individual written claim, for the past twelve-month period or from the date of the insurer's last periodic report, whichever time is shorter;2. The total number of written claims denied, for the past twelve-month period or from the date of the insurer's last periodic report, whichever time is shorter;3. The total number of written claims settled, including the original amount filed for by the insured, the settled amount, and the classification of line of insurance of each individual settled claim, for the past twelve-month period or from the date of the insurer's last periodic report, whichever time is shorter;4. The total number of written claims for which lawsuits were instituted against the insurer, including the original amount of the claim filed for by the insured, the amount of final adjudication, the reason for the lawsuit and the classification by line of insurance of each individual written claim, for the past twelvemonth period or from the date of the insurer's last periodic report, whichever time is shorter; and5. All information required by paragraph 14 of Section 1250.5 of this title.B. For the purposes of this section, "written claims" means those claims reduced to writing and filed by a resident of this state with an insurer.Okla. Stat. tit. 36, § 1250.9
Amended by Laws 2024, c. 195,s. 6, eff. 11/1/2024.Amended by Laws 2013 , c. 254, s. 21, eff. 1/1/2015.Added by Laws 1986, SB 488, c. 315, § 7, emerg. eff. 6/24/1986; Amended by Laws 1992, SB 622, c. 74, § 3, eff. 9/1/1992; Amended by Laws 1994, SB 1033, c. 342, § 9, eff. 9/1/1994; Renumbered from 36 O.S. § 1223 by Laws 1994, SB 1033, c. 342, § 20, eff. 9/1/1994; Amended by Laws 1994, 2nd Extr. Sess., HB 1002, c. 1, § 6, emerg. eff. 11/4/1994.This section is set out more than once due to postponed, multiple, or conflicting amendments.