HB 3048: Insurance; Unauthorized Insurers and Surplus Lines Insurance Act; surplus lines insurer; brokers; producers; agents; repealer; effective date. - Oklahoma

Floor (House) → Floor (Senate) · 4 edits

MODERATE

The bill was transitioned from the House to the Senate, where it was amended to clarify definitions and broaden the scope of the Unauthorized Insurers and Surplus Lines Insurance Act. The changes primarily focus on updating terminology to include 'nonadmitted insurers' alongside 'surplus lines' and refining how 'home state' and 'control' are defined for regulatory purposes.

Scope change

The bill's scope was expanded to explicitly include nonadmitted insurers selling nonadmitted insurance coverage, whereas the original text focused more narrowly on surplus lines brokers and licensees.

DEFINITION

The definition of 'Control' was updated to specify that owning or having the power to vote 25% or more of any class of voting securities constitutes control.

The definition of 'Home state' was refined to include specific rules for determining an insured's principal place of business, such as the location of headquarters.

SCOPE

The act was modified to explicitly apply to nonadmitted insurers assuming insurance in the state, not just traditional surplus lines brokers.

REQUIREMENT

Provisions were updated to clarify that only surplus lines brokers (and not general licensees) may accept and place surplus lines insurance.

House Committee Substitute → Floor (House) · 3 edits

MINOR

The bill text was updated to reflect its progression from a House Committee Substitute to the House Floor version. The primary changes involve formatting adjustments, such as adding the 'Floor Version' header and including Senate sponsor information, while the substantive legislative text and definitions remain identical to the previous version.

Scope change

No change in the bill's scope or applicability; the content is a direct carryover from the committee version.

TECHNICAL

The document header was updated to indicate this is the 'House Floor Version' rather than just the 'Committee Substitute'.

A Senate sponsor (Reinhardt) was added to the bill authorship line.

Page numbering and internal reference markers were adjusted to match the new floor version format.

Proposed Policy Committee Substitute 1 → House Committee Substitute · 4 edits

MODERATE

The bill was rewritten to remove the 'Proposed Policy Committee' branding and update the bill's title to reflect its focus on nonadmitted insurers. The most significant change is the addition of a new definition for 'Home state,' which now includes a specific rule for determining an insured's location based on where their headquarters are and where their taxable premiums are allocated if they operate outside Oklahoma.

Scope change

The bill's scope was technically narrowed by removing references to 'licensees' in several sections, shifting the focus entirely to surplus lines brokers and producers. Additionally, the definition of 'Home state' was expanded to include a specific formula for out-of-state businesses.

DEFINITION

Added a new definition for 'Home state' that includes a specific rule for determining the state of an insured with headquarters outside Oklahoma based on premium allocation.

Added a new definition for 'principal place of business' to clarify how it is determined for out-of-state entities.

REQUIREMENT

Removed references to 'licensees' from various sections, narrowing the bill's applicability to surplus lines brokers and producers only.

TECHNICAL

Updated the bill title and committee branding from 'Proposed Policy Committee Substitute' to 'Committee Substitute' to reflect the legislative process.

Engrossed → Proposed Policy Committee Substitute 1 · 4 edits

MODERATE

The bill was re-submitted by the House Policy Committee with a complete rewrite of the text and a reorganization of the legislative sections. While the core intent remains to regulate unauthorized insurance, the specific definitions, applicability rules, and statutory citations have been significantly altered.

Scope change

The bill's scope has shifted from a standard 'Engrossed' version to a 'Proposed Policy Committee Substitute,' indicating the committee has rewritten the language to refine the policy before it reaches the full House floor.

TECHNICAL

The entire text of the bill was deleted and replaced with a new version, changing the document type from 'Engrossed' to 'Proposed Policy Committee Substitute' and updating the session year to 2026.

DEFINITION

The definitions for key terms like 'Admitted insurer,' 'Affiliate,' 'Control,' and 'Home state' were rewritten, altering how these concepts are legally interpreted under the new text.

REQUIREMENT

Specific requirements regarding surplus lines brokers, record-keeping timeframes, and tax exemptions were modified, changing how insurance must be procured and reported.

ENFORCEMENT

Provisions related to penalties, legal process against insurers, and the removal of certain licensees from specific sections were updated, affecting how violations are handled.

Introduced → Engrossed · 3 edits · Mar 23, 2026

MINOR

The bill was formally engrossed, updating the header to reflect Senate co-authorship and changing the status from 'Introduced' to 'Engrossed'. The substantive policy content, including definitions and legal requirements, remains unchanged.

Scope change

No change to the bill's scope or applicability.

TECHNICAL

Updated the document header to indicate the bill is 'Engrossed' and added the Senate sponsor's name.

Changed the page footer text from the original requirement number to the engrossed bill number.

Adjusted the section header to reflect the bill's current legislative status.

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

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