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Friday, February 20, 2015
OKLAHOMA CITY – State insurance professionals are embracing a new rule aimed at helping Oklahomans make the right decision about earthquake insurance. More than 2,500 property insurance agents, customer service representatives and adjusters have completed a continuing education course on earthquake insurance.
Because earthquakes are becoming more prevalent in Oklahoma, Insurance Commissioner John D. Doak tasked the Oklahoma Insurance Department with developing an earthquake education requirement.
“We knew business and home owners would be looking for ways to protect their property from earthquakes,” said Doak. “Our goal was to make sure consumers had access to appropriate information regarding earthquake insurance. It was apparent to us that the best way to communicate that message was directly through insurance professionals.”
Gov. Mary Fallin signed an emergency rule requiring one hour of earthquake insurance continuing education in August 2014. The requirement went into effect in January of this year.
With our state experiencing more earthquakes than California in 2014, more and more people are getting earthquake coverage. With the new education requirement, insurance professionals will learn about how earthquake policies can widely vary in the premiums, deductibles and exclusions. The course will help them pass on these details to their customers.
“We are happy the insurance industry in Oklahoma is taking the opportunity to get educated on a relatively new topic for Oklahomans,” Doak said. “The information learned in this course will ensure that Oklahomans get the best possible advice from their insurance agent.”
For information on earthquake insurance contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at 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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