HB 2632
Insurance; offer of settlement; rejection of claim; exemption; effective date.
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies Oklahoma’s insurance laws regarding claims and settlements. It requires insurers to provide proof of loss forms to policyholders and submit a settlement offer or rejection within 60 days of receiving the completed form. The bill also clarifies rules about prevailing parties in judgments and adds interest to judgments in favor of the insured, with exceptions for uninsured motorist coverage and property insurance. Finally, it sets an effective date for the changes.
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