Oklahoma insurance commissioner unveils policy proposals to address rising homeowners rates

Summary:

– HB 2933 would limit attorney fees in insurance lawsuits to reduce costs.

– Homeowner Claims Bill of Rights requires insurers to respond within 14 days.

– Roof rules: insurers can’t deny or reduce coverage for roofs under 15 years old.

After months of talk of skyrocketing homeowners insurance rates, Oklahoma Insurance Commissioner Glen Mulready announced the policy proposals he and a lawmaker intend to pursue when the 2026 legislative session begins in February.

This policy package, Mulready said, is designed to “ensure fair treatment, handle claims faster and improve access to affordable coverage.”

In August, Oklahoma Attorney General Gentner Drummond sent a letter to Mulready, writing he has “zero evidence” that Oklahoma’s weather justifies high premiums