Oklahoma Senate Democratic Leader Julia Kirt has filed a set of bills for the 2026 session that aim to make insurance rates more manageable for residents.
In a release from the Oklahoma Senate, Kirt explained the bills were filed as a result of speaking with her constituents, and Oklahomans at large, about the insurance challenges they face. She found these concerns were backed by a study she conducted on insurance rates last year.
“The message is clear — many people in Oklahoma are having a hard time paying for insurance because prices have skyrocketed in recent years. This is especially tough for seniors living on fixed income and for families who are already struggling to pay their bills,” Kirt said in the release. “The bill I introduced will make insurance prices in Oklahoma lower, easier to understand, and fair for everyone.”
In total, Kirt presented three bills.
Senate Bill 1438 would cap insurance company profits by refunding excess profits to insureds at the end of each year. The release notes that Florida has a similar bill on the books that has resulted in $1 billion being refunded to customers and a plethora of rate decrease requests from insurance companies in the state.
Senate Bill 1444 addresses the way insurance companies make rate changes. Currently, the state’s Department of Insurance is limited in the ways it is able to monitor whether rates have become too inflated. SB 1444 would require insurers to file paperwork justifying their rates before they are allowed to proceed with an increase, with the insurance commissioner possessing the power to reject any increases they find excessive.
The final bill, Senate Bill 1435, would prohibit insurance companies from using credit scores when determining rates.
“These ideas are real solutions to a big problem many people in Oklahoma face. Our state laws should protect consumers, and these bills will do that,” Kirt said. “I look forward to presenting these bills when the 2026 session begins in February as we work to make insurance more affordable and fair for all Oklahomans.”
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