Okla. Stat. tit. 36, § 36-984
This is the official text of Okla. Stat. tit. 36, § 36-984, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Competitive market
Official statutory text
Competitive Market.
A. A competitive market is presumed to exist for a line of
insurance unless the Commissioner, after a hearing, issues an order
stating that a reasonable degree of competition does not exist in
the market. The burden of proof in any hearing shall be placed on
the party or parties advocating the position that competition does
not exist. Any ruling that a market is not competitive shall
identify the factors causing the market not to be competitive. Such
order shall expire no later than one (1) year after issue unless
rescinded earlier by the Commissioner or unless the Commissioner
renews the rule after a hearing and a finding as to the continued
lack of a reasonable degree of competition. Any ruling that renews
the finding that competition does not exist shall also identify the
factors that cause the market to continue not to be competitive.
B. 1. In determining whether a reasonable degree of
competition exists within a line of insurance, the Commissioner
shall consider the following factors:
a. the number of insurers actively engaged in writing
coverage,
b. market shares of the leading writers and the changes
in market shares over a reasonable period of time,
c. existence of financial or economic barriers that could
prevent new firms from entering the market,
d. measures of market concentration and changes of market
concentration over time,
e. whether long-term profitability for insurers in the
market is reasonable in relation to industries of
comparable business risk, and
Oklahoma Statutes - Title 36. Insurance Page 232
f. the relationship of insurers' costs to revenue over a
reasonable period of time.
2. All determinations by the Commissioner shall be made on the
basis of findings of fact and conclusions of law.
3. The ruling may be challenged in the district court.
C. The Commissioner shall monitor the degree and continued
existence of competition in this state on an ongoing basis. In
doing so, the Commissioner may utilize existing relevant
information, analytical systems and other sources, or rely on some
combination thereof. Such activities may be conducted internally
within the Insurance Department, in cooperation with other state
insurance departments, through outside contractors or in any other
appropriate manner.
A. A competitive market is presumed to exist for a line of
insurance unless the Commissioner, after a hearing, issues an order
stating that a reasonable degree of competition does not exist in
the market. The burden of proof in any hearing shall be placed on
the party or parties advocating the position that competition does
not exist. Any ruling that a market is not competitive shall
identify the factors causing the market not to be competitive. Such
order shall expire no later than one (1) year after issue unless
rescinded earlier by the Commissioner or unless the Commissioner
renews the rule after a hearing and a finding as to the continued
lack of a reasonable degree of competition. Any ruling that renews
the finding that competition does not exist shall also identify the
factors that cause the market to continue not to be competitive.
B. 1. In determining whether a reasonable degree of
competition exists within a line of insurance, the Commissioner
shall consider the following factors:
a. the number of insurers actively engaged in writing
coverage,
b. market shares of the leading writers and the changes
in market shares over a reasonable period of time,
c. existence of financial or economic barriers that could
prevent new firms from entering the market,
d. measures of market concentration and changes of market
concentration over time,
e. whether long-term profitability for insurers in the
market is reasonable in relation to industries of
comparable business risk, and
Oklahoma Statutes - Title 36. Insurance Page 232
f. the relationship of insurers' costs to revenue over a
reasonable period of time.
2. All determinations by the Commissioner shall be made on the
basis of findings of fact and conclusions of law.
3. The ruling may be challenged in the district court.
C. The Commissioner shall monitor the degree and continued
existence of competition in this state on an ongoing basis. In
doing so, the Commissioner may utilize existing relevant
information, analytical systems and other sources, or rely on some
combination thereof. Such activities may be conducted internally
within the Insurance Department, in cooperation with other state
insurance departments, through outside contractors or in any other
appropriate manner.
Status: in_force · Read it on the official government site
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