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HB 3048

Insurance; Unauthorized Insurers and Surplus Lines Insurance Act; surplus lines insurer; brokers; producers; agents; repealer; effective date.

2026 Regular Session Introduced by Aaron Reinhardt and 1 co-sponsor

HB 3048 revises Oklahoma's surplus lines insurance regulations governing unauthorized insurers, brokers, and agents, repealing certain provisions and establishing new requirements and effective dates.

Reported Do Pass Business and Insurance committee; CR filed
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WeVote Research Nonpartisan
Bill Summary · HB 3048

Legislative bill overview

HB 3048 modifies Oklahoma's Unauthorized Insurers and Surplus Lines Insurance Act, which governs how insurance can be sold through surplus lines brokers when coverage isn't available through standard, licensed insurers. The bill adjusts regulations around brokers, producers, and agents who place insurance with non-admitted (surplus lines) insurers, and repeals certain existing statutory provisions while implementing new effective dates.

Why is this important

Surplus lines insurance serves a critical function by providing coverage for high-risk or specialized situations that traditional insurers won't underwrite. Changes to these regulations directly affect insurance availability and costs for businesses and individuals with unique coverage needs, as well as the brokers and agents who facilitate these placements.

Potential points of contention

  • Specific amendments unclear – The bill summary doesn't detail which provisions are being repealed or what new requirements are being added, making it difficult to assess whether changes favor consumers, insurers, or brokers
  • Licensing and consumer protections – Depending on changes to broker/producer/agent requirements, the bill could either strengthen oversight or reduce barriers to entry in ways that impact professional standards
  • Market access vs. regulatory burden – Modifications could either expand access to surplus lines insurance or create compliance costs that reduce market participation

Compiled from official sources — confirm details with the bill’s official record.

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