Insurance; rate filing requirements; independent actuary; effective date.

HB 3780 requires property and casualty insurance companies operating in Oklahoma to annually submit an independent actuary's written opinion justifying their rates, along with supporting documentation. This directly affects all Oklahoma-based insurers (and out-of-state insurers upon request) by mandating transparency in rate-setting. Key provisions include requiring an "actuarial opinion summary" and supporting workpapers, with the Insurance Commissioner empowered to hire a qualified actuary at the insurer's expense if documents are insufficient. The bill defines an "independent actuary" as a qualified professional with no financial ties to the insurer, and protects them from liability except for fraud or misconduct. It takes effect November 1, 2026.