OK Insurance News

State Farm Policyholder Dividend Announcement

The Oklahoma Insurance Department announced that State Farm is returning a $5 billion dividend to qualifying auto policyholders nationwide, with Oklahoma policyholders receiving over $101.5 million. This action follows strong underwriting performance and prior rate reductions.

Oklahoma Insurance Commissioner Approves CompSource Mutual Reorganization

The Oklahoma Insurance Commissioner has approved the reorganization plan for CompSource Mutual Insurance Company. This marks the first conversion of its kind in Oklahoma under a 2024 law designed to streamline mutual insurance structures and enhance market competitiveness.

Oklahoma Insurance Department Storm Guidance

The Oklahoma Insurance Department (OID) has issued guidance for residents affected by severe storms that impacted the state on March 5-6, 2026. The guidance provides tips for documenting damage, making temporary repairs, filing claims, and dealing with contractors to avoid fraud.

Oklahoma Homes Program Applications Filled for First Quarter

The Oklahoma Insurance Department announced that its Strengthen Oklahoma Homes (SOH) program has filled all 300 available applications for the first quarter of 2026. The program offers grants up to $10,000 for storm-resilient housing upgrades. The next application period is expected to open in early April 2026.

Oklahoma Insurance Department Warns of Bail Bond Scam Calls

The Oklahoma Insurance Department has issued a consumer alert warning residents about scam calls impersonating bail bond agents. The department advises consumers to be skeptical of demands for immediate payment and to verify any arrest claims with official sources before sending money.