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53	53	STATE OF OKLAHOMA
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55	55	2nd Session of the 59th Legislature (2024)
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57	57	SENATE BILL 1570 By: Pemberton
58	58
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63	63	AS INTRODUCED
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65	65	An Act relating to homeowner’s insurance; amending 36
66	66	O.S. 2021, Section 3639.1, which relates to
67	67	termination or premium increas e of a homeowner’s
68	68	policy; requiring notice to certain parties prior to
69	69	cancellation of policy; updating statutory language;
70	70	and providing an eff ective date.
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75	75	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
76	76	SECTION 1. AMENDATORY 36 O.S. 2021, Section 3639.1, is
77	77	amended to read as follows:
78	78	Section 3639.1. A. No insurer shall cancel, refuse to renew ,
79	79	or increase the premium of a homeowner’s insurance policy or any
80	80	other personal residential insurance coverage, which has been in
81	81	effect more than forty-five (45) days, solely because the insured
82	82	filed a first claim against the policy. The provisions of this
83	83	section shall not be construed to prevent the can cellation,
84	84	nonrenewal, or increase in premium of a homeowner ’s insurance policy
85	85	for the following reason s:
86	86	1. Nonpayment of premium;
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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 omis sions on the
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 o r
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 policy 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 ins ured 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 rene wal 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 provide 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
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213	213	given or until the effective date of replacemen t coverage obtained
214	214	by the named insured, whicheve r 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 insu red cancels a homeowner’s insurance
223	223	policy or any other per sonal residential in surance coverage, 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 cancellation 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 the policy.
229	229	D. An insurer canceling a policy under subsecti on C of this
230	230	section shall not be liable for claim s arising after the date of
231	231	cancellation.
232	232	E. No insurer shall cancel a homeowner’s policy mid-term unless
233	233	a written notice of c ancellation is mailed via certified mai l to the
234	234	last known mailing address of the named insured or loss payee at
235	235	least thirty (30) days prior to the effective date of the
236	236	cancellation.
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288	288	SECTION 2. This act shall become effective Novem ber 1, 2024.
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290	290	59-2-2449 RD 1/5/2024 3:38:07 PM

Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1570 Compare Versions