Quake insurance available in Oklahoma, but market under scrutiny [View all]

Oklahoma’s market for earthquake insurance has drawn criticism and extra attention from state officials in recent months.

In June, Oklahoma Insurance Commissioner John Doak called the market noncompetitive, which allows him and the Insurance Commission, by state statute, to review rising earthquake insurance rates before they were enacted.

Doak said he made the move after his department saw 300 percent increases in insurance rates.

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The following companies offer earthquake coverage in Oklahoma: Travelers, State Farm, Farmers, Hartford, Metflife, Foremost and Chubb.

Read more: http://www.tulsaworld.com/homepagelatest/quake-insurance-available-in-oklahoma-but-market-under-scrutiny/article_20e196a9-c7b4-53fb-9ef2-f4c683f99231.html