The Oklahoma Insurance Department (“OID”) has recently released a special notice regarding the Anti-Fraud Assessment Annual Fee. The key highlights are as follows:
- The annual fee is applicable to all life, accident and health insurers; property and casualty insurers; county mutual fire insurers; mutual benefit associations; fraternal benefit societies; reciprocal insurers; motor service clubs; title insurers; nonprofit insurers; health maintenance organizations (HMOs); service warranty associations; surplus lines carriers; multiple employer welfare arrangements (MEWAs); trusts which write surety policies; prepaid dental plan organizations; and accredited reinsurers.
- The fee is collected for the purposes of investigation of suspected insurance fraud and civil or administrative action in cases involving suspected insurance fraud.
Please note that the assessment fee is due by July 1, 2026 and the fee must be paid electronically via the OPTins website.
For any questions related to the above referenced special notice in Oklahoma, please contact Westmont Associates!