Old	New	Differences
1	1
2	2
3	3
4	4	Req. No. 2333 Page 1 1
5	5	2
6	6	3
7	7	4
8	8	5
9	9	6
10	10	7
11	11	8
12	12	9
13	13	10
14	14	11
15	15	12
16	16	13
17	17	14
18	18	15
19	19	16
20	20	17
21	21	18
22	22	19
23	23	20
24	24	21
25	25	22
26	26	23
27	27	24
28	28	1
29	29	2
30	30	3
31	31	4
32	32	5
33	33	6
34	34	7
35	35	8
36	36	9
37	37	10
38	38	11
39	39	12
40	40	13
41	41	14
42	42	15
43	43	16
44	44	17
45	45	18
46	46	19
47	47	20
48	48	21
49	49	22
50	50	23
51	51	24
52	52
53	53	STATE OF OKLAHOMA
54	54
55	55	2nd Session of the 59th Legislature (2024)
56	56
57	57	SENATE BILL 1556 By: Garvin
58	58
59	59
60	60
61	61	AS INTRODUCED
62	62
63	63	An Act relating to homeowner’s insurance; amending 36
64	64	O.S. 2021, Section 3639.1, which relates to
65	65	termination or premium increas e of a homeowner’s
66	66	policy; prohibiting cancellation, refusal to renew,
67	67	or increases in premium due to certain causes;
68	68	updating statutory language; and providing an
69	69	effective date.
70	70
71	71
72	72
73	73	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
74	74	SECTION 1. AMENDATORY 36 O.S. 2021, Section 3639.1, is
75	75	amended to read as follows:
76	76	Section 3639.1. A. No insurer shall cancel, refuse to renew ,
77	77	or increase the premium of a homeowner’s insurance policy or any
78	78	other personal residential insurance cov erage, which has been in
79	79	effect more than forty-five (45) days, solely because the insured
80	80	filed a first claim against the policy, has filed a claim arising
81	81	from a weather-related catastrophe, or a major natural disaster as
82	82	declared by the Governor , or has a history of claims a rising from
83	83	such causes. The provisions of this section shall not be construed
84	84	to prevent the cancellation, nonrenewal , or increase in premium of a
85	85	homeowner’s insurance policy f or the following reason s:
86	86	1. Nonpayment of premium;
87	87
88	88
89	89	Req. No. 2333 Page 2 1
90	90	2
91	91	3
92	92	4
93	93	5
94	94	6
95	95	7
96	96	8
97	97	9
98	98	10
99	99	11
100	100	12
101	101	13
102	102	14
103	103	15
104	104	16
105	105	17
106	106	18
107	107	19
108	108	20
109	109	21
110	110	22
111	111	23
112	112	24
113	113	1
114	114	2
115	115	3
116	116	4
117	117	5
118	118	6
119	119	7
120	120	8
121	121	9
122	122	10
123	123	11
124	124	12
125	125	13
126	126	14
127	127	15
128	128	16
129	129	17
130	130	18
131	131	19
132	132	20
133	133	21
134	134	22
135	135	23
136	136	24
137	137
138	138	2. Discovery of fraud or material misrepresentation in the
139	139	procurement of the insurance or with respect to any claims su bmitted
140	140	thereunder;
141	141	3. Discovery of willful or reckless acts or omissions on t he
142	142	part of the named in sured which increase any hazard insured against;
143	143	4. A change in the risk which substantially increases any
144	144	hazard insured against after insurance coverage has been issued or
145	145	renewed;
146	146	5. Violation of any local fire, health, safety, building, or
147	147	construction regulation or ordinance with respect to any insured
148	148	property or the occupancy thereof which substantially increases any
149	149	hazard insured against;
150	150	6. A determination by the Ins urance Commissioner that the
151	151	continuation of the poli cy would place the insu rer in violation of
152	152	the insurance laws of this state; or
153	153	7. Conviction of the named insured of a crime having as one of
154	154	its necessary elements an act increasing any hazard insured against.
155	155	B. An insurer shall give to the named insured at the mailing
156	156	address shown on a homeowner’s policy, a written renewal notice that
157	157	shall include the new premium, new deductible, new limits or
158	158	coverage at least thirty (30) days prior to the expiration date of
159	159	the policy. If the insurer fails to provi de such notice, the
160	160	premium, deductible, limits and coverage provided to the named
161	161	insurer prior to the change shall remain in effect until notice is
162	162
163	163
164	164	Req. No. 2333 Page 3 1
165	165	2
166	166	3
167	167	4
168	168	5
169	169	6
170	170	7
171	171	8
172	172	9
173	173	10
174	174	11
175	175	12
176	176	13
177	177	14
178	178	15
179	179	16
180	180	17
181	181	18
182	182	19
183	183	20
184	184	21
185	185	22
186	186	23
187	187	24
188	188	1
189	189	2
190	190	3
191	191	4
192	192	5
193	193	6
194	194	7
195	195	8
196	196	9
197	197	10
198	198	11
199	199	12
200	200	13
201	201	14
202	202	15
203	203	16
204	204	17
205	205	18
206	206	19
207	207	20
208	208	21
209	209	22
210	210	23
211	211	24
212	212
213	213	given or until the effective date of replacement covera ge obtained
214	214	by the named insured, whichever occurs first. If notice is gi ven by
215	215	mail, the notice shall be deemed to have been given on the day the
216	216	notice is mailed. If the insured elects not to renew, any earned
217	217	premium for the period of extension of the terminated policy shall
218	218	be calculated pro rata at the lower of the curren t or previous
219	219	year’s rate. If the insured accepts the rene wal, the premium
220	220	increase, if any, and other changes shall be effective the day
221	221	following the prior policy’s expiration or anniversary date.
222	222	C. In the event an insured canc els a homeowner’s insurance
223	223	policy or any other per sonal residential insurance cove rage, written
224	224	notice shall be provided by the insured to the insurer that p rovided
225	225	the coverage being canceled. The notice of cancellation shall
226	226	provide the date of the can cellation of the policy and the insurer
227	227	shall reimburse the insured for any premium s paid for coverage
228	228	beyond the date of cancellation of t he policy.
229	229	D. An insurer canceling a policy under subsection C of thi s
230	230	section shall not be liable for claim s arising after the date of
231	231	cancellation.
232	232	SECTION 2. This act shall become effective November 1, 2024.
233	233
234	234	59-2-2333 RD 1/4/2024 11:32:02 AM

Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1556 Compare Versions