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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 Department is charged with executing all laws relating to insurance and insurance companies doing business in the State. Oklahoma Insurance Commissioner Glen Mulready The current Insurance Commissioner is Glen Mulready who was elected in November 2018 and took the oath of office on January 14, 2019.
Kim Holland (born August 6, 1955) is an American politician and insurance professional from the U.S. state of Oklahoma. 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 ]
Oklahoma auto insurance laws dictate that drivers must carry liability coverage that meets or exceeds 25/50/25 policy limits, meaning: $25,000 of bodily injury liability per person $50,000 of ...
If you are caught driving without insurance in Oklahoma, either as a result of an accident or an unrelated traffic infraction, you may face fines or other penalties including a suspended license.
This page was last edited on 10 January 2022, at 15:09 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
The Oklahoma Insurance Commissioner administers state laws dealing with insurance companies operating in Oklahoma. The commissioner audits insurance companies to make certain that they pay claims to their policyholders. Whenever an insurance company faces financial issues, courts usually appoints the commissioner to serve as a trustee. [30]
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related to: apply for oklahoma insurance license