OK| The Oklahoma Insurance Department has issued Bulletin No. 2025-02 announcing the annual assessment for the Oklahoma Market Assistance Program (OK-MAP). All insurers licensed in Oklahoma for both property and casualty lines are required to pay a $150 assessment, which funds the program’s efforts to help consumers find homeowners’ insurance. The assessment invoices will be sent in early May 2025, and payment is due by September 1, 2025; failure to pay may result in penalties, including fines up to $5,000 or revocation of an insurer’s certificate of authority.
Key Points:
- The $150 OK-MAP assessment applies to all insurers licensed in Oklahoma for both property and casualty insurance.
- Payment is due by September 1, 2025, and must be sent directly to the Oklahoma Market Assistance Program, not the Insurance Department.
- Non-payment can lead to significant penalties, including fines or loss of the insurer’s authority to operate in Oklahoma.