Oklahoma's AG calls homeowner's insurance rates unacceptable

OKLAHOMA CITY (KFOR) — Oklahoma Attorney General Gentner Drummond is challenging Oklahoma's homeowners' insurance rates.

He is inviting Oklahoma Insurance Commissioner Glen Mulready to make changes, calling Oklahoma's weather a red herring, and the state's open free market anything but that.

"I want to assure you it's not just an Oklahoma problem, it's a national problem," Mulready said back on September 30.

Mulready told that to lawmakers on why Oklahoma's insurance rates are so high during a study on the matter last month.

He pointed to the high-risk weather like tornadoes and wildfires, and told lawmakers that the 100 insurance companies in the state make Oklahoma a competitive market.

"On average, of those insurance companies, there are zero profits being made," Mulready said.

However, as first reported by Oklahoma Watch, Drummond isn't buying it.

Drummond sent a letter to Mulready in August challenging what the insurance commissioner has said about homeowner's rates.

Drummond LetterDownload

Drummond says Oklahoma's weather is being used as a "red herring to distract from companies' profiteering tactics."

He also said Oklahoma's free market system is "anything but competitive," saying the state's lack of enforcement for laws intended to protect consumers is allowing companies to keep raising prices.

He is calling for action, asking Mulready to make changes that will lower costs.

Mulready responded to the letter Drummond sent to him.

The letter from Attorney General Drummond, dated August 12, 2025, was a request to collaborate and review Oklahoma's insurance market, and I welcome that opportunity. By federal standards, Oklahoma's homeowners market remains highly competitive, far from being considered non-competitive. We continue to operate within the laws set by the Legislature.

I would also challenge the idea that our focus on weather is a 'red herring.' Oklahoma's severe weather directly drives the number and cost of claims. Tornadoes, hail, and wind events have an undeniable impact on insurance rates.

While we do have some of the highest homeowners rates in the country, we are not the highest. In response, we've worked to find solutions. One example is the Strengthen Oklahoma Homes program, which was signed into law and launched this spring. Homeowners who have fortified their roofs through this grant program are already seeing insurance discounts averaging more than $700 a year.

Additionally, we plan to work with legislative leaders to introduce a package of homeowners insurance-related legislation in the upcoming session aimed at improving affordability, claim resolution, and legal reform that will benefit Oklahoma consumers.

Glen Mulready, Oklahoma Insurance Commissioner