Current through Vol. 41, No. 13, March 15, 2024
(b)
Procedures. Policy forms,
endorsements and revisions thereto, by insurance companies and advisory
organizations licensed in Oklahoma, shall be submitted in compliance with this
section, or shall be rejected for filing, and the entity that made such
submission shall be so notified.
(1)
Filing requirements. The Insurance Code, Article 36, requires that
each insurer shall make its form filings by line of business directly with the
Insurance Commissioner. Companies may satisfy their obligation to make such
filings, where authorized by law, by becoming a member or subscriber to an
Oklahoma licensed advisory organization that makes such filings.
(2)
Filing fees.
(A) Form filings shall be accompanied by the
proper fees as specified in the Insurance Code. Fees shall not be paid in
cash.
(B) Filings for groups of
insurers shall be accompanied by the specified fee for each transaction,
regardless of the number of members or subscribers.
(C) Filings by advisory organizations shall
be accompanied by the specified fee for each transaction regardless of the
number of members or subscribers.
(3)
Address requirements. All
filings shall be addressed as follows: Oklahoma Insurance Commissioner, 400 NE
50th Street, Oklahoma City, Oklahoma
73105.
(4)
Number of
copies. All filings except those exempted shall be submitted through the
System for Electronic Rate and Form Filing (SERFF) pursuant to the SERFF
General Instructions. All filings including the cover letter, all exhibits,
forms and additional information submitted to the Insurance Commissioner shall
be typewritten or printed and submitted with one (1) legible copy of all
material. Companies that file as a group listing all companies on the
transmittal letter may accomplish this requirement by submitting one (1)
typewritten or printed legible copy of all material.
(5)
Effective date of filings.
The effective date of form filings and the dates of required action by the
Insurance Commissioner are governed by the applicable provisions of the
Insurance Code.
(6)
Notice of
Insurance Commissioner action. The Insurance Commissioner shall indicate
action taken through the System for Electronic Rate and Form Filing (SERFF).
Nothing in this section shall preclude the Insurance Commissioner from the use
of other forms of communication to secure information from the filing
entity.
(7)
Life, accident
and health insurance. This section does not apply to Life, Accident and
Health. Life, Accident and Health filings shall be made in accordance with the
applicable provisions of the Insurance Code and Rules of the Insurance
Commissioner.
(8)
Postage
requirements. No submissions shall be accepted which arrive at the
offices with postage due. No submissions will be returned unless the necessary
postage accompanies the same.
(9)
Filing form and content. All filings shall contain the following:
(A) The name of the filing entity and
complete mailing address to which correspondence shall be sent.
(B) A "RE" or "caption" briefly describing
the content and context of the filing.
(C) A list or index of the forms filed in the
filing letter or attached thereto including the form numbers and edition date,
if applicable.
(D) A complete
description and full explanation of the changes made by the filing including,
reasoning therefore, illustrative examples, including "John Doe" specimen form,
and a comparison of currently approved and proposed materials (side by side
comparison or marked copy).
(E) A
concise statement to identify the form to be replaced by the filing including
the approval date in this jurisdiction and the identifying filing number of the
filing containing the form to be replaced as assigned by the Insurance
Department.
(F) If a form is being
withdrawn or amended due to court decisions in any jurisdiction, the filing
entity shall furnish the legal citation, and if from another jurisdiction, a
copy of such decision or opinion with its filing.
(G) If a form filing is due to a federal law
or regulation of a federal agency, the filing entity shall furnish the legal
citation and a copy of the pertinent provisions.
(H) Completed transmittal forms and
exhibits.
(10)
Withdrawal of pending filings. Pending filings may be withdrawn by
the filing entity upon notice to the Insurance Commissioner prior to the
approval or disapproval thereof. The notice shall include the reason for the
withdrawal.
(11)
Duration of
filings. All filings are in effect until withdrawn or amended by the
insurer or rating organization, with approval of the Insurance Commissioner or
until abrogated by the Insurance Commissioner.
(12)
Advisory organization
deviations. Every member of, or subscriber to, a licensed rating
organization may adhere to any filings made on its behalf by its Advisory
Organization, except that any such member or subscriber may deviate from such
filings as authorized by this section if it has filed with the Advisory
Organization and with the Insurance Commissioner, the deviation to be applied
and information necessary to justify the deviation. If such deviation is
approved, it shall remain in force until such approval is withdrawn or replaced
by the insurer with approval of the Insurance Commissioner.
(13)
Group filings. Where
filings are made on behalf of more than one insurer, the filing shall list the
insurer or insurers by individual name and not by Company group.
(14)
Members of or subscribers to a
licensed advisory organization.
(A)
Filings. A licensed advisory organization may make filings on
behalf of its members and subscribers except deviation filings.
(B)
Adherence to filings. Every
member of or subscriber to a licensed advisory organization may adhere to any
filings made on its behalf by such organization except that any such member or
subscriber may deviate from such filings upon compliance with this section and
approval of the Insurance Commissioner
(C)
Individual company filings.
Members and subscribers shall not file individual forms that have been filed on
their behalf by the appropriate advisory organization. Declaration pages,
policy "jackets" and other forms not normally filed by the rating organization
shall be filed by the insurer directly with the Insurance
Commissioner.
(D)
Filing
requirements; advisory organization form deviation. If form deviations
are proposed, the insurer shall file the form including supporting
documentation with the Insurance Commissioner and furnish copies to the
appropriate rating organization.
(E)
Agency filings. "Agency
Filings" by a Rating Organization on behalf of its members or subscribers shall
be accepted by the Insurance Commissioner in instances where the rating
organization does not have a filing in effect for the coverage
involved.
(15)
Independent filings. If the insurer is filing an independently
developed form, the filing shall comply with the following:
(A) File Policy Forms, Endorsements, and
other materials, with the Insurance Commissioner and designate them as
"Independent Filings".
(B) File
support of each filing in accordance with this section.
(C) For revisions, file form with the
Insurance Commissioner.
(16)
Reference filings.
(A)
Advisory Organization
Filings.
(i)
Filings permitted
without reference filing agreement. Advisory Organization forms used in
whole or in part may be adopted by participating insurers of a licensed
advisory organization by "Reference Filings" subject to the approval of the
Insurance Commissioner. When making such type filing submit a filing memorandum
identifying the forms used. Departures and exceptions, if any, shall be
accompanied by the necessary supporting data. Such adoption shall apply only to
current filings and shall have no automatic effect as to future filings. Each
advisory organization filing shall be separately and specifically
adopted.
(ii)
Filings
permitted with reference filing agreement. Approved Advisory
Organization material may be adopted by participating insurers of a licensed
advisory organization by filing a REFERENCE FILING AGREEMENT with the Insurance
Commissioner identifying the forms and material to be used. Such adoption shall
apply from the date it is approved by the Insurance Commissioner to filings in
effect on that date and to all applicable future filings. It shall remain in
effect until such time as the agreement is withdrawn with the approval of the
Commissioner.
(iii)
Reference
filing. If filing by "Reference Filing" DO NOT file forms.
(B)
Other than Advisory
Organization filings. An insurer may adopt another insurer's filing by
filing forms on the filing insurer's format and by advising the Insurance
Commissioner of the names(s) of the insurer whose program is being copied, the
Oklahoma filing number, and the date(s) the program was filed for that insurer.
Unless an exception is granted by the Insurance Commissioner, this procedure
applies only to the filing of the initial program for the adopting insurer and
is subject to the review of the Insurance Commissioner.
(17)
Resubmittal of filings. All
resubmissions of disapproved or rejected filings shall be presented to the
Insurance Commissioner in the same manner as required by this section for an
original filing. In addition the cover letter or completed transmittal forms
addressed to the Insurance Commissioner shall state the full and complete
history of the filing, the reason for disapproval or rejection, and the factors
which distinguish the resubmittal so it warrants reconsideration.
(18)
Retroactive filings. The
Insurance Commissioner has no authority to and shall not approve filings
proposing a retroactive effective date except in cases of a filing correcting
an error in a previously approved filing and in cases where required or
necessitated by Statute.
(19)
Delivery of policy to insured. In any instance whereby a policy of
insurance is effected the insured shall be furnished with either:
(A) The original policy;
(B) A copy of the original policy or a
duplicate policy printed with ten point or larger type; or
(C) A certificate including provisions and
conditions of the original policy printed with ten point or larger
type.
(20)
Coverage elimination after policy issuance. Any endorsement which
eliminates or restricts coverage and which is issued during the policy term
shall be identified as accepted by the insured, by the signature of the insured
thereon, and a signed copy (original, computer generated or microfilm) of such
endorsement shall be retained in the files of the insurer for one year after
the expiration of the policy.
(21)
Uniform standard mortgage clause. The mortgage clause to be used
by Insurance Companies in Oklahoma shall be uniform Standard Form Number 127B
September 1934 Edition or subsequent editions, except upon written application
by an insurer or rating organization, a clause providing broader coverage may
be approved by the Insurance Commissioner.
(22)
Claims-made policies.
(A) The policy application and the
Declarations page of each claims-made policy shall include a conspicuous notice
indicating that the contract is a claims-made policy and advising the
policyholder to read its provisions.
(B) The policy shall provide for extended
reporting period options based on rules, rates or rating plans approved by or
filed with the Insurance Commissioner. If so stated in the policy, the extended
reporting period options shall not be required to be offered if a policy is
cancelled for nonpayment of premium or a material representation or
fraud.
(23)
New
forms, reductions in coverage.
(A)
Form filings that may result in the elimination of claims (losses) shall be
considered as a relevant factor to be given due consideration by the Insurance
Commissioner as respects rates in effect or proposed for the coverage
involved.
(B) The filer shall fully
disclose the rate consideration so that Commissioner can be notified of the
form filing. The form filing may be disapproved if the rateeffect has not been
considered in rules, rates or rating plans approved by or filed with the
Commissioner.
Amended at 14 Ok Reg 2305, eff 7-1-97 ; Amended at 19 Ok
Reg 1299, eff 7-14-02 ; Amended at 20 Ok Reg 1736, eff 7-14-03 ; Amended at 21
Ok Reg 1659, eff 7-14-04 ; Amended at 22 Ok Reg 2041, eff 7-14-05 ; Amended at
23 Ok Reg 2730, eff 7-14-06 ; Amended at 24 Ok Reg 2209, eff 7-14-07 ; Amended
at 25 Ok Reg 1656, eff 7-14-08 ; Amended at 27 Ok Reg 1542, eff 7-14-10 ;
Amended at 28 Ok Reg 1961, eff 7-14-11 ; Amended at 30 Ok Reg 1782, eff
7-14-13