FAQ
Every day I get asked, “What does the insurance commissioner do?”
The best answer comes directly from the Oklahoma Constitution.
The Insurance Department, which shall be charged with the execution of all laws now in force, or which shall hereafter be passed, in relation to insurance and insurance companies doing business in the State.
In other words, the Insurance department is responsible for enforcing all of the laws related to insurance and insurance companies in the State of Oklahoma.
Commissioner - Election - Term of office - Qualifications. A. There shall be elected by the qualified electors of the State, at the first general election, a chief officer of the Insurance Department, who shall be styled the "Insurance Commissioner", whose term of office shall be four years: Provided, That the first term of the Insurance Commissioner so elected, shall expire at the time of the expiration of the term of office of the first Governor elected. The Insurance Commissioner shall be at least twenty-five (25) years of age and well versed in insurance matters. B. No person shall be eligible to serve as Insurance Commissioner for a period of time in excess of eight (8) years.
The Insurance Commissioner is the Chief Executive Officer of the Insurance Department. The Commissioner is responsible for policy and direction of the department and ultimately responsible for implementing and enforcing the laws of the State of Oklahoma that apply to any type of insurance and insurance company.
HB 3781
During the 2026 session, the house and senate passed HB3781 which was then signed into law. This bill provides two fundamental shifts in property and casualty insurance in Oklahoma.
First, the Insurance Commissioner now has the power to declare rates Excessive (or too high). In the past, that could only be done if the Oklahoma insurance market was deemed to be uncompetitive.
Second, for personal lines property and casualty insurance, Oklahoma has moved from its current system (of which Oklahoma was one of only 8 states) that did not require insurance companies to file their rates for review before starting to use them. Under the new “file and use” system, all companies must now file their rates for review with the Oklahoma Insurance Department at least 30 days before they plan to start using them.
This will dramatically impact homeowners and automobile insurance in the Oklahoma. That which is observed changes. With the power to regulate rates, the next Insurance Commissioner will have a direct impact on whether Oklahomans are paying too much for insurance.