Both Republican candidates promise to advocate for consumers and encourage competition, but Bob Sullivan and Marty Quinn offer different views of how aggressively the office should regulate insurers and what is driving Oklahoma’s rising premiums.
OKLAHOMA CITY — Oklahoma homeowners have watched insurance premiums climb sharply in recent years, making property coverage one of the state’s fastest-growing household expenses.
Both Republicans seeking to become Oklahoma’s next insurance commissioner say consumers deserve relief. But as voters prepare for the Aug. 25 runoff election, Bob Sullivan and Marty Quinn are offering different approaches to how the office should respond to the state’s insurance challenges.
The winner of the Republican runoff will face Democrat Craig MacIntyre in the Nov. 3 general election to succeed term-limited Insurance Commissioner Glen Mulready.
While both candidates support a competitive insurance market and stronger consumer protections, they differ in how they view the commissioner’s role in addressing rising premiums and holding insurers accountable.
What the office actually does
The Oklahoma insurance commissioner does not set insurance rates.
Instead, the office regulates the insurance industry by reviewing rate filings as required under state law, licensing insurers and agents, examining insurance companies’ financial condition, investigating consumer complaints and enforcing Oklahoma’s insurance statutes.
The commissioner also serves as the state’s chief advocate for insurance consumers while working to maintain a stable insurance market that attracts companies to write policies in Oklahoma.
Although the office reviews insurers’ rate filings, premiums are driven by numerous factors outside the commissioner’s direct control, including severe weather, rebuilding costs, reinsurance prices, litigation trends and investment markets.
Areas of agreement
Both Sullivan and Quinn argue Oklahoma families are struggling with rising insurance costs and say the department should be responsive to consumers.
Both have called for attracting additional insurers to Oklahoma to increase competition and expand choices for consumers. Each has also emphasized the importance of prompt claims handling and fair treatment of policyholders.
Neither candidate argues the commissioner can simply order insurance companies to lower premiums.
Instead, both contend the office should use its existing regulatory authority to encourage competition while protecting consumers.
Different governing philosophies
The principal difference between the candidates lies in how they view the commissioner’s role.
Sullivan has campaigned as a regulator who would take a more assertive approach toward the insurance industry. He has argued the department should aggressively hold insurance companies accountable when they fail consumers and has said state leaders should examine policies that contribute to rising insurance costs.
Quinn has emphasized his legislative and insurance industry experience, arguing the commissioner should focus on creating a regulatory environment that attracts more insurance companies to Oklahoma while ensuring insurers comply with state law. He has also pointed to his experience crafting insurance legislation during his service in the Oklahoma Senate.
The contrast is less about ideology than emphasis. Sullivan has focused on a more active regulatory posture, while Quinn has stressed market competition, regulatory stability and his experience working on insurance policy.
Challenges awaiting the next commissioner
Whoever wins the office will inherit challenges that extend well beyond Oklahoma.
Property insurers nationwide continue to face increasing losses from severe weather, higher construction costs, inflation and rising reinsurance expenses. Those trends have contributed to premium increases across much of the country, including Oklahoma.
The next insurance commissioner will have limited authority to influence those national market forces. Instead, the office’s impact will largely come through enforcing state insurance laws, reviewing filings under Oklahoma statutes, resolving consumer complaints and working to maintain a competitive insurance market.
For voters, the Republican runoff offers less of a choice between competing ideologies than between two different approaches to exercising the authority the office already possesses.
