“The Oklahoma Insurance Department is aware of the recent developments in Comanche County District Court involving the release of internal documents related to State Farm’s handling of wind and hail claims.
We are currently reviewing the publicly available materials and will consider any information they contain as we continue our market conduct examination of insurance company claims in Oklahoma.
The Oklahoma Insurance Department has been conducting an independent investigation into insurance industry practices for the past several years, including practices involving the adjustment and payment of homeowners’ claims following severe wind and hail events. That work has been extensive, and we continue to push the independent examiner to complete the report and get it submitted to OID.
The recent release of these documents is significant and warrants our careful attention. However, it is important that we allow the facts to speak for themselves. Our responsibility is not to prejudge the outcome of litigation or adopt the allegations of any party. Our responsibility is to examine the evidence, determine whether insurance laws and regulations have been followed, and take appropriate action when they have not.
Several months ago, the Oklahoma Insurance Department entered into a Memorandum of Understanding with the Oklahoma Attorney General’s Office that provides a framework for the confidential sharing of information between our offices. We look forward to continuing to work with the Attorney General’s Office and sharing appropriate information as our respective investigations and enforcement responsibilities develop.
Oklahomans have every right to expect that when they purchase an insurance policy and pay their premiums, their claims will be handled fairly, promptly and in accordance with the coverage they purchased.
As Insurance Commissioner, my job is to protect Oklahoma insurance consumers while also respecting the authority and responsibilities of other state agencies and the courts. We will stay in our lane, follow the evidence and use every authority available to the Oklahoma Insurance Department to fulfill our statutory responsibility.
We will continue our review of these newly released materials, complete our ongoing investigation and report our findings to the public when that work is finished.”
ABOUT OID
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.
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