Helping Oklahoma Consumers
Throughout his first term, the Department has implemented appropriate regulation and financial reviews, monitored the economic stability of insurance companies and ensured that customers receive the insurance products and services they were promised.
Better information for consumers
Commissioner Doak is committed to providing Oklahomans with an abundance of information regarding insurance, products and services, which in turn results in better consumers and an increase in the efficiency and effectiveness of insurance markets across the state.
To this end, the Insurance Department has established a "Consumer's Bill of Rights." Unveiled at the state Capitol with legislative leaders, the legislation highlights the protections afforded to consumers under Oklahoma law.
Major legislative changes: The Oklahoma Insurance Department works hand-in-hand with lawmakers to pass legislation that will improve the lives of Oklahoma consumers and promote a robust insurance market.
For example, Commissioner Doak has spoken strongly about the need for change in our Worker's Compensation Program. In the 2013 legislative session, new legislation was passed to replace the expensive, time-consuming and lawyer-friendly system of the past. Oklahomans will see a decrease in rates as well as faster claims processing and benefits to both injured workers and their employers.
Uninsured motorists in our state are another problem. In 2013, a serious plan to address this problem was implemented with the passage of House Bill 1792. This is a long-term plan that will decrease the number of uninsured motorists and increase protection for all motorists.
Innovative programs that save consumers money
Commissioner Doak and the Department's staff have diligently pursued new and creative ways to help Oklahomans with the cost of insurance. The Department's Fire Department Outreach and Education program is one example. Local fire departments are taught about the ways national insurance groups rate fire departments. The fire departments learn cost effective ways to improve their scores. As their ratings improve, property insurance rates for homeowners within the fire department's boundaries are reduced.