OK Insurance Commissioner comes to Claremore

Yahoo

04-03-2025

Oklahoma Insurance Commissioner Glen Mulready says his department can save Oklahomans time and money.
Mulready told residents during a meeting Friday at the Will Rogers Memorial Museum that one of the insurance department's primary functions is assisting Oklahoma residents with troublesome insurance claims. He said people can file a complaint with his department by visiting oid.ok.gov or by calling 800-522-0071.
"It's a short form: basic contact info, basic box for narrative that authorizes us to contact that insurance company on your behalf and go to bat for you," said Mulready. "A lot of folks don't know."
Mulready, whose visit was sponsored by the Claremore Area Chamber of Commerce, has served in his role since 2019. He often travels around the state to promote his department's services; he said he spoke to city leaders in Shawnee on Wednesday.
The Oklahoma Insurance Department levies a 2.25% premium tax on insurance policies. Mulready said this tax brings in about $400 million per year, making the insurance department one of the state's largest revenue generators.
He said 55% of this tax funds pension plans for law enforcement, firefighters and first responders; the state legislature reaps the remaining 45% and appropriates it in the regular budget process.
The insurance department also coaches Oklahoma fire departments on how to improve their Insurance Services Office fire protection score. This score, which ranges from 1 (best) to 10 (worst), ranks how quickly and effectively a fire department responds to fires.
Mulready said nine fire departments have an ISO rating of 1 — Claremore is class 2.
"The better your fire protection class, the lower that your premiums are," Mulready said.
He said the department is rolling out a pilot program Monday that will help Oklahoma residents get lower premiums on homeowner's insurance: the Strengthen Oklahoma Homes Program.
The program, approved by the state legislature and signed into law by Gov. Kevin Stitt last May, authorizes the insurance department to provide homeowners up to a $10,000 grant to protect their roof from storm damage.
"We get wind and hail [in Oklahoma]," Mulready said. "After six years, I've discovered I cannot affect the weather — I'm a little slow — but we can do something to help folks fortify their home."
Applications for the grant opened up Monday in eight Oklahoma City and Norman-based zip codes. He said the department will expand to more zip codes in phases with the goal of providing 1,000 grants by year's end.
Mulready said insurance companies will charge lower premiums to homeowners with fortified roofs, and homeowners will be less likely to have to pay out the deductible.
Mulready said the Oklahoma Insurance Department can also help Oklahomans:
— Navigate Medicare. He said Medicare is complicated, and people can call the insurance department for help sifting through the various options.
— Verify if a deceased relative has a life insurance policy. Mulready said people can fill out a form on the department's website and will receive an answer within 90 days. He said his office has connected Oklahomans to $165 million in life insurance benefits during his tenure.