Bulletin PC 2019-01: OK-MAP assessment

BULLETIN NO. PC 2019-01 TO: ALL PROPERTY AND CASUALTY INSURERS LICENSED IN OKLAHOMA ALL RATING AND ADVISORY ORGANIZATIONS ATTENTION: STATE FILING DIVISION RE: OKLAHOMA MARKET ASSISTANCE PROGRAM (OK-MAP) ANNUAL ASSESSMENT FROM: GLEN MULREADY, INSURANCE COMMISSIONER DATE: April 26, 2019 PURPOSE OF THIS BULLETIN The Oklahoma Market Assistance Program (OK-MAP) Plan of Operation and the Oklahoma Insurance Code allow the program to collect an assessment from all insurers authorized to write property and casualty insurance in the State of Oklahoma. The purpose of the assessment is to help fund the program so that it may continue its efforts in assisting Oklahoma consumers in finding homeowners insurance. The amount of the assessment is $150 and all member insurers will receive an invoice for that amount during the first week of May 2019. 36 O.S. § 6422 requires OK-MAP members to participate in all assessments and writings of the program. The statute also allows for imposition of a penalty against members who fail to pay the assessment, including revocation of an insurer's certificate of authority and a fine of up to $5,000. The assessment is due on September 1, 2019. Please remit payment to the following address: Oklahoma Market Assistance Program PO Box 13488 Oklahoma City, OK 73113 Please do not send payment to the Oklahoma Insurance Department. Additional information regarding OK-MAP is available online at www.mapsprogram.com. Questions applicable to this bulletin should be directed to Marletta Bruner of the Rate and Form Compliance Division at Marletta.Bruner@oid.ok.gov or to Sara Worten of the Legal Division at Sara.Worten@oid.ok.gov. The Oklahoma Insurance Department encourages readers of this bulletin to periodically check the Department’s web site at http://www.ok.gov/oid/ for news and updates to bulletins and other relevant material.