The Oklahoma Insurance Department announced an assessment to all property and casualty insurers licensed in Oklahoma and all rating and advisory organizations. The Oklahoma Market Assistance Program (OK-MAP) Plan of Operation and the Oklahoma Insurance Code allow the program to assess all “member” insurers in the state. The assessment helps fund the program so that it can continue to assist Oklahoma insureds to find homeowners insurance. “Member” means all insurers licensed in the state for both property and casualty lines of business per 30. O.S. § 6413.
Statute 36 O.S. § 6422 requires OK_MAP members to participate in all assessments and writings. Penalties may be imposed against members who fail to pay the assessment. Penalties can include revocation of an insurer’s certificate of authority and/or a fine of up to $5,000. The assessment is due by September 1, 2025, and payment should be sent to:
Oklahoma Market Assistance Program
PO Box 13488
Oklahoma City, OK 73113
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