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Wednesday, August 2, 2017
OKLAHOMA CITY – Oklahoma Insurance Commissioner John D. Doak will participate in a Senate hearing focused on preventing insurance fraud. Commissioner Doak will testify before the Senate Committee on Commerce, Science and Transportation's Subcommittee on Consumer Protection, Product Safety, Insurance and Data Security. The hearing will take place at 10:00 a.m. on Thursday, Aug. 3.
“Protecting consumers from insurance fraud has been one of my top priorities since taking office,” said Doak. “I look forward to discussing this important issue with the subcommittee and working together to keep citizens safe. Those who think insurance fraud is a victimless crime are dead wrong. It leads to higher premiums for everyone.”
Commissioner Doak is testifying on behalf of the National Association of Insurance Commissioners as Chair of the Antifraud Task Force. The subcommittee will examine insurance fraud trends in the United States and explore tools available to states, insurers and consumers to protect themselves against these crimes.
The Coalition Against Insurance Fraud estimates that the total cost of insurance fraud is approximately $80 billion a year. The crimes cost the average U.S. family between $400 and $700 a year in increased premiums.
Witness testimony, opening statements and a live video of the hearing will be available on https://www.commerce.senate.gov/public/.
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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