Oklahoma Automobile Insurance Plan

“Description: investment income. Amount: 139.”

“Description: late fees. Amount: 350.”

“Description: underwriting expenses. Amount: 12,395.”

“Description: prior period adjustment for coversion to statutory basis financial statement. Amount: 166,777.”

“Description: premiums receivable. Beg. Of year amount: 0. End of year amount: 1,557. Description: other receivables. Beg. Of year amount: 0. End of year amount: 52,805. Description: assessment receivables. Beg. Of year amount: 0. End of year amount: 108,863.”

“Description: accounts payable. Beg. Of year amount: 0. End of year amount: 5,381. Description: insurance reserves. Beg. Of year amount: 0. End of year amount: 6,771. Description: accrued expenses. Beg. Of year amount: 0. End of year amount: 2,342.”

“Effective january 1, 2020, the plan began writing policies for thier personal vehicle component, personal auto insurance procedure (paip). The plan utilizes a fronting company for issuance of the policies, and automobile insurance plan service office (aipso) acts as service provider that handles all policy issuance, commission payment, underwriting, policy billing, claims management and statistical repoting on behalf of the fronting company and the plan. Prior to january 1, 2020, the paip program operated on assignment basis. The plan received applications and forwarded applications to member insurance companies. Each member company wrote its own policies for the applicants assigned. There have been no changes in services provided by the plan. There were only changes in the platform used by the plan to administer those services, resulting in changes in activity reported on the plan's financial statements and form 990.”