Mulready: Homeowners Insurance Market Competitive

Public discussion about Oklahoma’s homeowners insurance market has intensified in recent months, with some critics suggesting the market lacks competition. However, objective, well-established economic tools that are widely accepted by the Department of Justice, Federal Trade Commission, fellow regulators, and economists show that the Oklahoma homeowners insurance market is competitive. This isn’t determined by rhetoric or perception, and it doesn’t mean that premium costs aren’t rising or invalidate homeowners’ concerns about affordability, which is my top focus along with legislative leaders.