Under Oklahoma law, what is the time frame for acceptance or denial of a claim by an insurer?

In Oklahoma, insurers are required to accept or deny a claim within a specific time frame to ensure that policyholders receive timely responses regarding their claims. The law stipulates that an insurer must provide a decision on a claim within 45 days of receiving the necessary information to make that determination. This timeframe helps ensure fairness and transparency in the claims process, protecting consumers from undue delays.

This requirement for a 45-day response period means that insurers are held accountable for processing claims efficiently, which helps maintain trust in the insurance industry. The requirement is designed to prevent situations where claims could be left unresolved for extended periods, which can create financial hardship for claimants. By adhering to this time frame, insurers can also better manage their overall claims handling process.