Oklahoma House Bill HB2619

Oklahoma 2022 Regular Session

• Introduced: 2/1/21
• Refer: 2/2/21

Caption

Insurance; prohibiting cancellation, refusal to renew or increase of premium rate for the reason of change in marital status; effective date.

Impact

If enacted, this bill will modify Section 941 of the Oklahoma statutes regarding motor vehicle insurance, thus ensuring that insurers are unable to penalize clients based on factors that are unrelated to their driving behavior. By prohibiting adjustments to insurance status tied to marital changes, it addresses a potential source of unfair discrimination in insurance pricing practices. This change may lead to a more stable insurance environment for policyholders going through life transitions.

Summary

House Bill 2619 seeks to amend the Oklahoma insurance regulations concerning motor vehicle insurance policies. Specifically, the bill prevents insurance providers from canceling, refusing to renew, or increasing premium rates due to changes in a policyholder's marital status, such as legal separation, divorce, or the death of a spouse. The aim of this measure is to offer greater protection to individuals during significant life changes that could otherwise negatively impact their insurance coverage and financial stability.

Contention

While there may not be extensive documented opposition to HB2619 in the provided materials, similar legislative proposals can often elicit concerns from insurers about the potential economic implications, including the stability of risk-pooling mechanisms. There could be fears regarding increased costs for insurance companies, which may indirectly translate to higher premiums across the board for other policyholders, even if this specific bill focuses on protections for a narrow group of individuals.