Oklahoma Insurance Commissioner

The Oklahoma Insurance Commissioner is an elected executive officer of the state of Oklahoma. The Insurance Commissioner serves as the head of the Oklahoma Department of Insurance. The Insurance Department is charged with executing of all laws relating to insurance and insurance companies doing business in the State.

The current Insurance Commissioner is John D. Doak who was elected in November 2010 and took the oath of office on January 10, 2011.

In order to serve as the Insurance Commissioner, a candidate must be at least twenty-five years old, a resident of the State for at least five years prior to their election, and have had at least five years' experience in the insurance industry in administration, sales, servicing or regulation. The Insurance Commissioner is forbidden from being financially interested, directly or indirectly, in any insurer, agency or insurance transaction except as a policyholder or claimant under a policy. The Insurance Commissioner serves a four-year term that runs concurrent with that of the Governor.

As the chief executive officer of the Insurance Department, the Insurance Commissioner is responsible for enforcing the provisions of the Oklahoma Insurance Code. As such, the Insurance Commissioner may adopt reasonable rules and regulations for its implementation and administration.

The Insurance Commissioner has jurisdiction over complaints against all persons engaged in the business of insurance, and hears all matters either in person, by authorized disinterested employees, or by hearing examiners appointed by the Commissioner for that purpose. In performing his official duties, the Insurance Commissioner must make annual reports to Governor of Oklahoma on the activities of the Insurance Department. Such report must contain statements about each insurance company operating in the state, which must include their admitted assets, liabilities except capital, capital and surplus, Oklahoma premium income, amount of claims paid in Oklahoma, and such other matters as the Insurance Commissioner deems necessary to the benefit of the people of Oklahoma.

The Insurance Commissioner is allowed to educate consumers and make recommendations regarding the subject of insurance in this State to state officials and private individuals.

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