Insurance; proof of loss; claims; property insurance; effective date.

HB 2957 requires Oklahoma insurers to provide proof of loss forms to policyholders upon written request and to issue a written settlement offer within 60 days of receiving the completed form. For most insurance claims, if an insured wins a court case and the award exceeds the insurer’s written offer, they may receive 15% annual interest on the amount owed and recover attorney fees. However, the bill specifically excludes property insurance claims from these benefits, meaning no interest or attorney fees can be awarded in such cases. The law will take effect on November 1, 2026.