Oklahoma insurance industry could shift in race for new Insurance Commissioner

Oklahoma Health insurance

Viner and Doak will compete for the position of the state’s Insurance Commissioner

Oklahoma Health insuranceThe race for Oklahoma’s next Insurance Commissioner is on and insurance rates may decide the victor. The state’s current Commissioner, John Doak, will compete with Bill Viner, an auditor for the Oklahoma Tax Commission. While Viner is a relative newcomer to the state’s political scene, he has set his sights on addressing the issue of insurance rates and the financial burden they represent. Homeowners insurance rates, in particular, are expected to receive a significant amount of attention.

Viner has formidable experience in the insurance industry

Viner had worked for the Oklahoma Insurance Department for 10 years, serving as the agency’s chief examiner at one point. He also held a senior examiner role in the Nevada Division of Insurance. Viner has significant experience in the insurance realm and may prove to be serious competition for the Oklahoma Insurance Commissioner seat. Commissioner Doak, however, does have strong support and intends to address the issue of insurance rates alongside his competitor.

Insurance rates will be a major issue that could decide who the next Insurance Commissioner is

Oklahoma is home to some of the highest homeowners insurance rates in the country. This is partly due to the state’s exposure to severe weather, but Viner suggests that current rates are excessive. Viner claims that the rate increases that have been approved over the last several years are unnecessary, as insurance companies have not experienced any financial risks that they have not been able to manage without very modest rate increases. Viner intends to introduce more regulation to the insurance industry in the state, hoping to mitigate the growing cost of insurance coverage.

Doak currently has strong support from the state’s insurers

Commissioner Doak currently has the support of some of the state’s insurance companies. These insurers do have a vested interest in seeing Doak retain his position. This is because they have been able to introduce significant rate increases over the past few years. Insurers have had to comply with the state’s regulations, of course, and not every rate proposal introduced by an insurance company has been approved by state regulators.

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