Oklahoma Insurance Update – 7/12/13

Date: June 16, 2013
From: Licensing Division
Re: Procedural Changes effective 07/01/2013

Then Oklahoma Insurance Department’s Licensing Division (OID) is reviewing current production processes and making decisions therein so as to better streamline those processes for increased production and efficiency.

Effective, July 1, 2013, the OID will only hold pending licensure applications for a period of 60 days. Upon receiving applications and determining that information and/or documentation pertinent to the issuing of a license is incomplete and/or missing, OID will electronically notify the applicant of the missing information that is being requested on the pending application. If the requested information is not received within 60 days from the date of electronic notification, the application will be denied and terminated in the system. OID will not issue a refund for any processing fees paid by the applicant in such a scenario.

However, an extension and/or refund can be granted on any application if a written request from the applicant is made during the 60 day pend-period. Each respective application will be evaluated on a case-by-case basis.

Direct any questions to the Licensing Division at Licensing@OID.OK.GOV

The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney for questions regarding the legal ramifications of this information.