Checking headlines Prepare for the rains

By Oklahoma Insurance Commissioner Glen Mulready

Here in Oklahoma, we know all too well the damage flooding causes and the danger it presents.

In May 2019, Oklahomans saw some of the worst flooding in history after 17 tornadoes struck the state in one day. The storm carried 5 to 6 inches of rainfall, causing the tragic loss of lives and significant financial damage. Flooding devastated thousands of Oklahomans, resulting in more than $31 million in estimated losses. In addition, more than 6,000 flood claims were reported, yet far too many storm victims did not have flood insurance.

March is Flood Insurance Awareness Month in Oklahoma. I want to remind Oklahomans to get ready before spring flooding and consider getting flood insurance coverage now. Here are three reasons why now is a great time to learn more about the importance and benefits of flood insurance.

You live in Oklahoma. Flooding is the number one natural disaster in the United States. 90% of natural disasters in the U.S. involve flooding. While most standard homeowners policies cover tornadoes, hail, and wildfires, they do NOT cover floods. You are 27 times more likely to experience a flood than a fire during a 30-year mortgage.

On the heels of Oklahomans’ overwhelming defeat of State Question 820 that would have legalized recreational marijuana, Sen. Jessica Garvin, R-Duncan, Wednesday said the result of the recent election shows the state’s medical program needs reformed.

With more than 61% of voters rejecting the state question, not a single county voted in favor of the measure. Opposition to the question included industry leaders, educators, law enforcement officials and community leaders.

Garvin said while she is happy the measure failed, more needs to be done to reform the current medical program.

“Oklahoma is a better place for this state question failing,” said Garvin. “I think the overwhelming results are also a clear sign that Oklahomans are not happy with the current medical marijuana program and want it to be reformed. That is why this session, I have introduced a number of bills that will close loopholes in illegal activity, further protect children and make the program a true medical marijuana program, not recreational marijuana lite, which is what it is now.”

Garvin’s proposed legislation came from Senate members working over the past nine months with cannabis industry professionals to better understand the issues, problems and concerns they have and discuss how lawmakers can make it better.

“Oklahomans made the right decision last night by vehemently voting this measure down,” said Sen. Greg McCortney, R-Ada, who serves as the Senate Majority Floor Leader. “The medical marijuana industry is here to stay. That is one reason why Senate leadership has heavily relied on Senator Garvin to invest the necessary time to understand the industry better, both the pros and cons. She has worked with other members to present a series of bills to substantially improve patient safety and close many loopholes we have found in our current agency rules and state regulations. I am proud to support her work as session continues.”

Senators have filed several measures to help eliminate the vast array of illegal activity and negative outcomes that have flooded the state over the past five years. The Senate’s robust plan includes bills that will better protect the public, such as limiting marijuana access to minors. Other bills include requirements for physicians who recommend medical marijuana products to complete a thorough initial training and annual continuing education. Additionally, Senate Bill 806 closes loopholes to prevent illegal land ownership.

“Having worked in the medical field for my entire professional life, I have seen patients who have benefited from the CBD and THC found in cannabis. That said, the people of Oklahoma have spoken and it’s time for the Legislature to step up and take action based on Tuesday's vote,” said Garvin. “We're beginning to see data supporting the medical benefits and we need to ensure patients who are thriving, such as our veterans and cancer patients, continue to have the best quality of life possible. However, Oklahomans are frustrated with the negative activities, including human trafficking, loss of life, strain on our already brittle infrastructure, and increasing burdens on our judicial and mental health systems. Reform begins with looking at data supporting both sides of the argument and having meaningful conversations about public policy that uphold what voters supported in 2018 when they passed SQ788, but also striving to eliminate the unintended consequences it created.

Illegal land sales concern lawmakers

It typically takes 30 days for a flood policy to go into effect, so the time to buy is well before a disaster. That is why you need to purchase or renew flood insurance well in advance. Waiting until you see the water rushing in is too late. Get flood coverage under the National Flood Insurance Program (NFIP) or through private insurance. Talk to your agent today. Cost of flooding. Flooding can be an emotionally and financially devastating event. According to the Federal Emergency Management Agency, an inch of water in a home could cause more than $25,000 in damages. About 33% of all flood claims come from outside of high-risk areas. In 2021, the average flood insurance claim payment through NFIP was $44,050, while Oklahoma's average flood insurance premium was $81 a month.

While we cannot prevent another flood from occurring, we can get our state financially prepared for the damage when it hits. This month let’s make sure Oklahomans understand their flood risk. As I always like to remind folks—If it rains where you live, it can flood where you live.

For more insurance information, please contact the Oklahoma Insurance Department at 1-800-5220071 or visit our website at www.oid.ok.gov.