The Oklahoma Insurance Department published a bulletin informing insurers of legislative changes effective November 1, 2025, as a result of House Bills 1084 and 1501 and Senate Bill 641.
HB 1084 prohibits the assignment of certain benefits under an auto policy, residential property insurance policy, or commercial property insurance policy. A person may not accept or solicit an assignment of any post-loss insurance benefit for property damage.
This does not apply to an assignment to a federally insured financial institution, mortgagee, or a subsequent purchaser of a property, or liability coverage under an auto, residential, or commercial property insurance policy.
HB 1501 places limitations on the commissions payable to public insurance adjusters. The total commission payable, including expenses, direct costs, or any other costs accrued by the public adjuster, must not exceed 10 percent of the amount of the insurance settlement.
SB 641 adds two statutes. The first states that the hourly market rate for labor for administrative charges relating to total loss vehicles should be based on the prevailing market price. The commissioner can adjust the market rate for inflation starting January 1, 2027.
The second statute places a maximum daily storage rate that auto body repair shops can charge. For the first ten days, shops can charge a maximum of $39 per day for all motor vehicles, and $125 for vehicles with lithium-ion batteries that sustained damage to the battery pack. After ten days, the limit is $75 per day for all motor vehicles, and $200 for lithium-ion damaged vehicles.
The bulletin can be found here.
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