OK| Oklahoma Insurance Department issues Bulletin No, 2025-09: House Bill 1497 introduces significant changes to Oklahoma’s insurance regulatory framework for holding company systems, effective November 1, 2025. It aligns Oklahoma’s law with the NAIC Model Law by requiring annual group capital calculations and liquidity stress tests, establishes confidentiality provisions, and outlines exemptions and specific criteria for limited filings. The Insurance Commissioner is granted discretion to exempt or require filings in particular cases, especially if risk conditions arise, and third-party confidentiality requirements for consultants are reinforced.
Key Points:
- Oklahoma adopts NAIC model regulations for group capital calculations and liquidity stress tests, effective Nov. 1, 2025.
- All holding company systems must file annual group capital calculations unless specific exemptions apply.
- Liquidity stress test filing required if scope criteria are met; criteria follow NAIC template instructions.
- Confidentiality provisions restrict dissemination of group capital and liquidity stress test data and require consultant contracts to maintain confidentiality.
- Exemptions or limited filings may be granted; Commissioner retains discretion to require filings for troubled insurers or those in hazardous conditions.