| SB2054 | Paraphrase: | authorizes the insurance commissioner to require any entity obligated to submit or file documents with the Department of Insurance to electronically file the documents. The bill also clarifies language in the Oklahoma Insurance Code and removes outdated language. The bill also eliminates the requirement to certain funds collected be paid to the state treasury for credit to the General Revenue Fund. The bill eliminates the requirement that the Department of Insurance mail an affidavit of exempt status under the Workers' Compensation Act form to those requesting it but requires the department to make the form available on its Web site. The bill requires insurers that use credit information to provide certain information if the consumer's credit information has been directly influenced by certain events. The bill permits a nonresident life or accident and health insurance broker applicant to receive a license in Oklahoma if they are licensed and in good standing in their home state and if the applicant's home state awards nonresident licenses to Oklahoma residents on the same basis. The bill modifies language related to health benefit plans and eliminates group policies applicable to less than 50 people from the definition. The bill removes commercial lines insurance risks or portions thereof that are not rated according to manual, rating plans or schedules, including "a" rates, from the exemption from review requirements. It creates the Unauthorized Insurers and Surplus Lines Insurance Act. It modifies language referring to surplus line insurers. It requires all licensed administrators to file an annual report for the previous calendar year reviewed by a certified public accountant who shall be independent of the administrator. The bill adds advisory board or advisory organizations to the list of organizations that are required to make loss runs or claims history available to current and former policyholders within thirty 30 days upon a written request by the policyholder. The bill permits a nonresident life or accident and health insurance broker applicant to receive an Oklahoma license if they are licensed and in good standing in their home state, and if the home state of the applicant awards nonresident licenses to residents of Oklahoma on the same basis. The bill amends the Genetic Nondiscrimination in Insurance Act to certain acts on the basis of genetic information. The bill also permits health benefit plans to provide coverage other than those required by law for mental health and substance use disorders. The bill also provides that treatment limitations for mental health and substance abuse disorder benefits will be no more restrictive than the predominant treatment limitations substantially applied to all medical and surgical benefits covered by the plan and that there shall be no separate treatment limitations applicable only to mental health or substance abuse disorder benefits. The bill requires the board to develop a plan to end the business of the Oklahoma Small Employer Health Reinsurance Program. The bill requires the board to submit the plan to the insurance commissioner for approval within 120 days of the effective date of the program's repeal and requires that the plan include, but not be limited to, an accounting of the funds and expenses of the Oklahoma Small Employer Health Reinsurance Program and a detailed description of the method of reimbursement of any funds or monies from the initial assessment to any reinsuring carriers. The bill modifies certain reporting requirements related to medical professional liability insurance policy claims. The bill permits a professional employer organization, or PEO, to use a qualified assurance organization as approved by the commissioner to provide services related to the registration of the PEO. The bill also repeals requirements that copies of volunteer fire department ordinances be submitted to the insurance commissioner. The bill also repeals additional language concerning the Small Employer Health Insurance Reform Act. The bill repeals language related to the application for license as a service warranty association. In the House, the bill was amended to remove the repealer of language under the Service Warranty Insurance Act related to application for license as a service warranty association. |
