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 The 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.…

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Tornado insurance claims have already surpassed $250 million in Oklahoma

Tornado insurance

Homeowners, property, auto, and other claims have contributed to this massive and growing total. According to the state commissioner, the tornado insurance claims from May in Oklahoma have already risen to the point that they have reached $250 million and they are expecting to surpass that total quite quickly before long. The devastation that was caused in the Oklahoma City area in May was staggering. Since May 19, there have been over 32,000 total tornado insurance claims on various different types of policies. This, according to Commissioner John Doak’s data.…

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Tornadoes and storms in Oklahoma create difficult insurance marketplace for consumers and companies alike

The National Tornado Preparedness Summit in Oklahoma City – an event sponsored by the Oklahoma Insurance Department, the National Weather Center, and the National Association of Insurance Commissioners – is expected to draw almost 800 representatives from the insurance industry. According to the Oklahoma Farm Bureau Insurance vice president of public affairs, John Wiscaver, the harsh reality for the state is that throughout the last five years, the marketplace has faced the highest historic loss levels among all organization histories. He stated that earthquakes, hailstorms, tornadoes, and wildfires have all…

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Oklahoma sends more than a message back to capital hill

The Oklahoma Insurance Department is sending back more than $1 million in funding to the federal government. The money would have been used to review the state’s health insurance premium regulations. It will never be used for its intended purpose as Insurance Commissioner John Doak asserts that “Oklahomans do not want the federal government making decisions about their health care.” The funds have yet to make their way back to the government – the state is awaiting federal officials to retrieve the money. The money is being returned along with…

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