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The revenue for Oklahoma Insurance Department's budget is generated from the fees associated with the licenses. Since 2016, the OID has been non appropriated.According to the OID's 2018 Annual Report, the department's operations have produced $46.5 million to be given back to the State of Oklahoma budget for use by other state agencies.
The Oklahoma Insurance Commissioner is an elected executive officer of the state of Oklahoma. The Insurance Commissioner serves as the head of the Oklahoma Insurance Department. The Oklahoma Insurance Department is charged with executing all laws relating to insurance and insurance companies doing business in the State.
National Online Insurance School is a nationwide state-certified pre-licensing insurance school headquartered in Delray Beach, Florida, United States. Established in 2008, it provides pre-licensing insurance education for health, life and variable annuity insurance license designations.
Holland served as the Oklahoma Insurance Commissioner until January 2011. She was appointed to that position by Governor Brad Henry in 2005, following the indictment and resignation of her predecessor, Carroll Fisher. [1] The second woman to serve as the state insurance commissioner, she was re-elected in 2006 to her own four-year term.
A designee must pass an exam on each topic and can choose between a personal insurance and a commercial insurance concentration, which includes one elective of their choosing, as well as one ethics course. These exams are standardized, two hour multiple choice, objective-type exams. The exams are known for their difficulty. [1] [2]
Brokers also use the LOMA educational courses to count towards the continuing professional education (CPE) requirement needed to maintain their license in good standing with regulators. [ 7 ] LOMA's board of directors is made up of insurance industry chief executive officers, presidents and vice-presidents, lawyers and other industry professionals.
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An insurance commissioner (or commissioner of insurance) is a public official in the executive branch of a state or territory in the United States who, along with their office, regulate the insurance industry. The powers granted to the office of an insurance commissioner differ in each state.
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