This bill amends existing Oklahoma insurance law regarding motor vehicle insurance policies, specifically addressing how traffic records can influence premium rates and policy cancellations. It prohibits insurance carriers from using traffic records, including complaints, citations, and accident reports, that are older than three years to establish or modify premium rates, cancel policies, or refuse to issue or renew policies. However, certain serious offenses, such as reckless driving, can be considered for up to five years.

Additionally, the bill introduces protections for insured individuals by preventing insurers from canceling or refusing to renew a policy solely because the insured filed their first claim after the policy has been in effect for more than 45 days. It also clarifies that insurers cannot use traffic complaints or citations as a basis for policy cancellation or premium increases if the insured was acquitted, had charges dismissed, or if no charges were filed. The bill includes provisions for the Insurance Commissioner to take action against insurers who violate these regulations, including the suspension or revocation of their authority to conduct business in the state. The effective date for these changes is set for November 1, 2026.