OKLAHOMA CITY – The Oklahoma House of Representatives today passed House Bill 1160, authored by Rep. Mark Tedford, R-Jenks, with a 93-2 vote. The legislation updates state insurance laws to ensure policyholders are better protected if their insurance company becomes insolvent.

“This bill is about safeguarding Oklahomans when they need it most,” Tedford said. “By modernizing our insurance laws and aligning them with national best practices, we’re ensuring a smoother, more efficient process for handling claims when an insurer fails.”

HB1160 updates the Oklahoma Property and Casualty Insurance Guaranty Act, which provides a safety net for policyholders if their insurance company goes bankrupt. The legislation clarifies which companies and claims are covered, establishes clear guidelines for handling cyber insurance insolvencies and allows the Oklahoma Insurance Commissioner to share critical pre-liquidation information with the Oklahoma Property & Casualty Insurance Guaranty Association (OPCIGA) to expedite claims processing. It also incorporates language from other states’ statutes regarding advertising practices.

HB1160 now moves to the Senate for further consideration. If signed into law, the measure would take effect on Nov. 1, 2025.