BULLETIN NO. 3-2024
| To: | ALL PROPERTY AND CASUALTY INSURERS LICENSED IN OKLAHOMA ALL RATING AND ADVISORY ORGANIZATIONS ATTENTION: STATE FILING DIVISION |
| Re: | OKLAHOMA MARKET ASSISTANCE PROGRAM (OK-MAP) ANNUAL ASSESSMENT |
| From: | GLEN MULREADY, INSURANCE COMMISSIONER |
| Date: | April 30, 2024 |
The Oklahoma Market Assistance Program (OK-MAP) Plan of Operation and the Oklahoma Insurance Code allow the program to collect an assessment from all “member” insurers in the State of Oklahoma. The assessment helps fund the program so that it may continue assisting Oklahoma consumers in finding homeowners’ insurance. The assessment is $150; all member insurers will receive an invoice for that amount during the first week of May 2024.
“Member” means all insurers licensed in the State of Oklahoma for BOTH property and casualty lines of business. See 36 O.S. § 6413.
36 O.S. § 6422 requires OK-MAP members to participate in all program assessments and writings. The statute also allows for the imposition of penalties against members who fail to pay the assessment, including revocation of an insurer’s certificate of authority and/or a fine of up to $5,000.
The assessment is due on September 1, 2024. Please remit payment to the following address:
Oklahoma Market Assistance Program
PO Box 13488
Oklahoma City, OK 73113
Please do not send payment to the Oklahoma Insurance Department.
Additional information regarding OK-MAP is available online at www.mapsprogram.com.
Questions applicable to this bulletin should be directed to:
Kali Skar, the Big I Oklahoma, at okmap@bigiok.com;
Kurt Cagle, Rate and Form Division, at Kurt.Cagle@oid.ok.gov; or
Bo Debose, Legal Division, at Bo.Debose@oid.ok.gov