Insurance; offer of settlement; rejection of claim; exemption; effective date.

HB 2632 requires insurers in Oklahoma to provide a written settlement offer or claim rejection within 60 days of receiving a claimant's proof of loss. This directly affects insured individuals filing claims, as it sets a clear timeline for insurers' responses and establishes that the prevailing party in disputes (insurer if judgment doesn't exceed the offer, insured otherwise) is entitled to attorney fees. If the insured prevails, courts must add 15% annual interest on the award from when the loss became payable under the policy. The law excludes uninsured motorist and property insurance claims and takes effect November 1, 2025.