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Friday, May 24, 2013
OKLAHOMA CITY – Oklahoma Insurance Commissioner John D. Doak is calling for a moratorium on all insurance non-renewals, cancellations and terminations for affected areas in the wake of the tornado and severe storms that occurred in central Oklahoma May 19-20.
“This is just a small, administrative step that we can take to help ease the burden of the victims of this devastating storm,” said Doak. “Our goal is to help ensure that insurance policies that were in effect will remain in effect while numerous families go through the recovery process.”
The bulletin released today requests insurers to not cancel, non-renew or terminate coverage while the Disaster Emergency Executive Order 2013-20 remains in effect, allowing consumers to take actions necessary to keep their policies in force. Additionally, any rate increases for insurance policies in affected counties dated on or after May 19, 2013 are to be deferred during the pendency of this emergency with coverage remaining in effect at the previously established rate.
“Many families have lost everything, so anything we can do to eliminate even the smallest stressors will go a long way in the days to come,” said Doak. “We encourage affected residents of the recent tornados to rely on us to be a support for their insurance-related needs.”
Recent protocol put into place by the Oklahoma Insurance Department is requiring any licensed public adjuster performing services in the affected counties to exhibit their adjuster license to a prospective client before entering into contract. If approached by an adjuster without adequate proof of license, please call the OID Anti-Fraud Unit at (800) 522-0071.
Insurers are also being requested to allow policyholders in these areas to obtain refills of their medications under their prescription drug coverage even if recently filled.
To view the complete official bulletin released today, please visit www.oid.ok.gov.
About the Oklahoma Insurance Department
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.
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