{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-984","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-984","heading":"Competitive market","body":"Competitive Market.\n\nA. A competitive market is presumed to exist for a line of\n\ninsurance unless the Commissioner, after a hearing, issues an order\n\nstating that a reasonable degree of competition does not exist in\n\nthe market. The burden of proof in any hearing shall be placed on\n\nthe party or parties advocating the position that competition does\n\nnot exist. Any ruling that a market is not competitive shall\n\nidentify the factors causing the market not to be competitive. Such\n\norder shall expire no later than one (1) year after issue unless\n\nrescinded earlier by the Commissioner or unless the Commissioner\n\nrenews the rule after a hearing and a finding as to the continued\n\nlack of a reasonable degree of competition. Any ruling that renews\n\nthe finding that competition does not exist shall also identify the\n\nfactors that cause the market to continue not to be competitive.\n\nB. 1. In determining whether a reasonable degree of\n\ncompetition exists within a line of insurance, the Commissioner\n\nshall consider the following factors:\n\na. the number of insurers actively engaged in writing\n\ncoverage,\n\nb. market shares of the leading writers and the changes\n\nin market shares over a reasonable period of time,\n\nc. existence of financial or economic barriers that could\n\nprevent new firms from entering the market,\n\nd. measures of market concentration and changes of market\n\nconcentration over time,\n\ne. whether long-term profitability for insurers in the\n\nmarket is reasonable in relation to industries of\n\ncomparable business risk, and\n\nf. the relationship of insurers' costs to revenue over a\n\nreasonable period of time.\n\n2. All determinations by the Commissioner shall be made on the\n\nbasis of findings of fact and conclusions of law.\n\n3. The ruling may be challenged in the district court.\n\nC. The Commissioner shall monitor the degree and continued\n\nexistence of competition in this state on an ongoing basis. In\n\ndoing so, the Commissioner may utilize existing relevant\n\ninformation, analytical systems and other sources, or rely on some\n\ncombination thereof. Such activities may be conducted internally\n\nwithin the Insurance Department, in cooperation with other state\n\ninsurance departments, through outside contractors or in any other\n\nappropriate manner.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"ed03f22cfb3863322a6e3eed0cea7931f59bb626fec767d402ce98785b3c2c97","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-983","next":"us-ok/okla.-stat.-tit.-36-36-985"},"notice":"GroundRules: Original legal text. Not legal advice."}