Oklahoma Watch challenges of state commissioners about high homeowners -insurance tariffs

Oklahoma City (Kokh) – A new article by Oklahoma Watch questions our state insurance commissioner.

According to a Wall Street Journal story in March, Glen Mulready said that hail was responsible for high homeowners.

“The argument that the Oklahoma rates are high due to the hail because they looked at the data,” said Oklahoma Watch JC Hallman's reporter.

Hallman found several examples that prove that this theory is wrong, like a diagram by Gallagher Re. It reveals that Oklahoma hails less than Texas and Kansas. He also found a loan report in which the residents in these countries still pay lower interest rates than Oklahoma.

“It didn't really come together.”

Hallman says that since a law in 1999, the insurance commissioner of Oklahoma is legally excluded from the challenging increases of homeowners, unless there is a lack of competition. This means that companies can calculate as much as they want.

“The only way to influence regular people, homeowners, this is to call and say the Oklahoma insurance department: 'We believe that the tariffs are too high. We believe that there is a non -competitive market. You have the ability to lower this. We wish you would do that.”

Hallman claims that Commissioner Mulready would bring this into a situation in which he would have to choose between insurance companies and voters.

“He is a chosen civil servant.”

Campaign reports show that the insurance industry from 2011 to 2023 was the largest donor from Mulready.

“This influence is undeniable. Even in the article when I asked him, he said: 'Well, I don't want to say that I am not talking to lobbyists, but I'm not talking to lobbyists.' This is a very, a kind of left -handed man to make a rejection.