Following a rash of earthquakes, a state lawmaker says he plans to file a bill to require insurance companies to notify Oklahomans whether their policies cover property damage caused by earthquakes.
Rep. Mike Shelton of Oklahoma City filed a bill last year that would have required insurance companies to notify Oklahomans who are purchasing or renewing an insurance policy whether the policy covers losses caused by earthquakes. Shelton says the measure was opposed by the insurance industry and died in a House committee.
Shelton says the bill is about making insurers become transparent. He says many constituents who filed claims for earthquake damage have learned their policies don’t cover it.
Shelton says that since Saturday, at least 21 earthquakes have been recorded in central Oklahoma by the Oklahoma Geological Survey.
Was this article valuable?
Here are more articles you may enjoy.
Legal Analysis: Insurer Subrogation Rights Under Scrutiny
‘The Arms Race Is On’: Chubb’s Greenberg on Mythos, Middle East
US Weighs Tougher Auto Import Rules to Accelerate Reshoring
Bayer Banking on US Supreme Court’s Help to Rein in Roundup Lawsuits