ORS § 748.112 — OR Code / Title 56 / Chapter 748 / Section 748.112
748.112 Conditions constituting “representative form of government.”
Status: in_force

A society has a representative form of government when:

(1) It has a supreme governing body constituted as:

(a) An assembly composed of delegates elected directly by the members or at intermediate assemblies or conventions of members or their representatives, together with other delegates as may be prescribed in the society’s laws. A society may provide for election of delegates by mail. The elected delegates shall constitute a majority in number and shall not have less than two-thirds of the votes and not less than the number of votes required to amend the society’s laws. The assembly shall be elected and shall meet at least once every four years and shall elect a board of directors to conduct the business of the society between meetings of the assembly. Vacancies on the board of directors between elections may be filled in the manner prescribed by the society’s laws; or

(b) A board composed of persons elected by the members, either directly or by their representatives in intermediate assemblies, and any other persons prescribed in the society’s laws. A society may provide for election of the board by mail. Each term of a board member may not exceed four years. Vacancies on the board between elections may be filled in the manner prescribed by the society’s laws. Those persons elected to the board shall constitute a majority in number and not less than the number of votes required to amend the society’s laws. A person filling the unexpired term of an elected board member shall be considered to be an elected member. The board shall meet at least quarterly to conduct the business of the society;

(2) The officers of the society are elected either by the supreme governing body or by the board of directors;

(3) Only benefit members are eligible for election to the supreme governing body and the board of directors; and

(4) Each voting member has one vote. No vote may be cast by proxy. [1987 c.490 §5]

Source: Section 748.112 — Conditions constituting “representative form of government.” , https://www.­oregonlegislature.­gov/bills_laws/ors/ors748.­html (accessed May 26, 2025).
ORS § 731.624 — OR Code / Title 56 / Chapter 731 / Section 731.624
731.624 Special deposits
Status: in_force

Every insurer, before transacting insurance in this state, shall make the following deposits with the Department of Consumer and Business Services:

(1) Foreign or alien insurers transacting surety insurance in this state, $250,000.

(2) Foreign or alien insurers transacting title insurance in this state, $100,000.

(3) Foreign or alien insurers transacting home protection insurance in this state, $100,000.

(4) Foreign or alien insurers transacting mortgage guaranty insurance in this state, $500,000. [1967 c.359 §117; 1981 c.247 §7; 1987 c.483 §4; 1999 c.196 §3]

Source: Section 731.624 — Special deposits; foreign and alien insurers , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 741.801 — OR Code / Title 56 / Chapter 741 / Section 741.801
741.801 Insurer to notify health care provider that enrollee is in grace period
Status: in_force

(1) As used in this section and ORS 741.800 (Insurer to notify health care provider of qualified health plan coverage) :

(a) “Enrollee” means a person who is:

(A) Enrolled in a qualified health plan purchased through the health insurance exchange;

(B) Responsible for paying the premium on the qualified health plan and has paid at least one premium; and

(C) Receiving an advance payment of the premium tax credit under section 36B of the Internal Revenue Code.

(b) “Grace period” means the period of three consecutive months during which an enrollee’s coverage continues under a qualified health plan without the payment of premiums.

(c) “Health insurance exchange” has the meaning given that term in ORS 741.300 (Definitions) .

(d) “Qualified health plan” means a plan that is certified as a qualified health plan in accordance with ORS 741.310 (Requirements for purchase of insurance through exchange and for participation of insurers in exchange) .

(2) If an enrollee fails to pay a premium for a qualified health plan, the insurer shall notify any health care provider that the enrollee is in a grace period if the provider requests information from the insurer regarding the eligibility, coverage or benefits of the insureds under the enrollee’s plan.

(3) If an insurer terminates the coverage of an enrollee based on the nonpayment of premiums during a grace period, the insurer shall pay a claim for reimbursement by a health care provider of a service performed during the grace period if:

(a) The insurer fails to notify the health care provider as required by subsection (2) of this section;

(b) The service is covered by the enrollee’s plan; and

(c) The health care provider requests the information described in subsection (2) of this section not more than seven business days before providing the service and the insurer provides the information to the health care provider no later than two business days after the date of the provider’s request.

(4) The requirements of this section may not be waived by agreement, and any provision of a contract entered into on or after January 1, 2016, that purports to waive the requirements of this section or that conflicts with the requirements of this section is null and void. [2015 c.580 §2]

Source: Section 741.801 — Insurer to notify health care provider that enrollee is in grace period; effect of failure to provide notice , https://www.­oregonlegislature.­gov/bills_laws/ors/ors741.­html (accessed May 26, 2025).
ORS § 732.558 — OR Code / Title 56 / Chapter 732 / Section 732.558
732.558 Termination of registration by director
Status: in_force

The Director of the Department of Consumer and Business Services shall terminate the registration of any insurer which demonstrates that it no longer is a member of an insurance holding company system. [Formerly 732.655]

Source: Section 732.558 — Termination of registration by director , https://www.­oregonlegislature.­gov/bills_laws/ors/ors732.­html (accessed May 26, 2025).
ORS § 735.164 — OR Code / Title 56 / Chapter 735 / Section 735.164
735.164 Incorporation of pure captive insurer and association captive insurer
Status: in_force

(1) A pure captive insurer must be incorporated as a stock insurer with the capital of the pure captive insurer divided into shares and held by the shareholders of the pure captive insurer.

(2) An association captive insurer may be:

(a) Incorporated as a stock insurer with the capital of the association captive insurer divided into shares and held by the shareholders of the association captive insurer; or

(b) Incorporated as a mutual insurer without capital stock, with a governing body elected by the member organizations of the association captive insurer.

(3) The requirements of ORS 732.085 (Incorporators) apply to the incorporators of a captive insurer.

(4) Any person desiring to organize a captive insurer must first file an application with the Director of the Department of Consumer and Business Services for a permit to organize the captive insurer. The applicant shall pay the applicable fee to the director at the time the application is filed. The application shall be on forms provided by the director and shall be signed by the applicants and verified. The form shall specify information about the following:

(a) The character, reputation, financial responsibility and purposes of the proposed incorporators;

(b) The character, reputation, financial responsibility, insurance experience and business qualifications of the proposed officers and directors and the proposed managers;

(c) Any information provided to the Department of Consumer and Business Services in the application for a certificate of authority or that is maintained in the department’s files; and

(d) Other aspects the director considers advisable.

(5) The director shall approve an application for a permit to organize a captive insurer only if the director finds that:

(a) The application is complete;

(b) The documents filed with the application are in the proper form;

(c) The proposed financial structure is adequate;

(d) The character, reputation, financial responsibility and general fitness of the persons named in the application or otherwise found to be associated with or have an interest in the proposed insurer are such as to command the confidence of the public;

(e) The proposed directors are collectively competent to assume responsibility for the management and general policies and procedures of the captive insurer;

(f) The proposed management, collectively, possess the requisite general business ability and experience in the business of insurance of the class or classes specified in the application; and

(g) No fact is then known to the director that would prevent the proposed insurer from completing its organization and receiving a certificate of authority to transact insurance as a captive insurer.

(6) To the extent not otherwise inconsistent with the provisions of ORS 735.150 (Definitions for ORS 735.150 to 735.190) to 735.190 (Incorporation of captive reinsurer) , ORS 732.095 (Articles of incorporation) , 732.105 (Filing articles of incorporation and surety bond, letter of credit or deposit) and 732.115 (Approval of articles, documents and bond, letter of credit or deposit) apply for the filing of the articles of incorporation of a captive insurer.

(7) Intentionally left blank —Ed.

(a) An alien captive insurer applying to the director for a certificate of authority to act as a branch captive insurer shall obtain from the director a certificate finding that:

(A) The nation of an alien captive insurer imposes statutory or regulatory standards, in a form acceptable to the director, on captive insurers transacting insurance in that nation; and

(B) After considering the character, reputation, financial responsibility, insurance experience and business qualifications of the officers and directors of the alien captive insurer, and other relevant information, the establishment and maintenance of the branch operations will promote the general good of this state.

(b) After the director issues a certificate under paragraph (a) of this subsection, the alien captive insurer may register with the department to do business in this state as a branch captive insurer.

(8) The capital stock of a captive insurer incorporated as a stock insurer may not be issued at less than par value.

(9) At least one-quarter of the members of the board of directors of a captive insurer formed as a corporation shall be residents of this state.

(10) Intentionally left blank —Ed.

(a) A captive insurer formed as a corporation under ORS 735.150 (Definitions for ORS 735.150 to 735.190) to 735.190 (Incorporation of captive reinsurer) has the privileges of and is subject to ORS 735.150 (Definitions for ORS 735.150 to 735.190) to 735.190 (Incorporation of captive reinsurer) and ORS chapters 60 and 732.

(b) If a conflict exists between a provision of ORS chapters 60 and 732 and a provision of ORS 735.150 (Definitions for ORS 735.150 to 735.190) to 735.190 (Incorporation of captive reinsurer) , ORS 735.150 (Definitions for ORS 735.150 to 735.190) to 735.190 (Incorporation of captive reinsurer) shall control.

(c) Except as provided in paragraph (d) of this subsection, the provisions of ORS 735.150 (Definitions for ORS 735.150 to 735.190) to 735.190 (Incorporation of captive reinsurer) pertaining to a merger, consolidation, conversion, mutualization and redomestication apply in determining the procedures to be followed by a captive insurer in carrying out any of the transactions described in those provisions.

(d) The director may waive or modify the requirements of this subsection.

(11) The articles of incorporation or bylaws of a captive insurer may not authorize a quorum of a board of directors to consist of less than one-third of the fixed or prescribed number of directors as provided in rules adopted by the director. [2012 c.84 §9]

Note: See note under 735.150 (Definitions for ORS 735.150 to 735.190) .

Source: Section 735.164 — Incorporation of pure captive insurer and association captive insurer; application; fee; approval; alien captive insurer; application of corporation laws , https://www.­oregonlegislature.­gov/bills_laws/ors/ors735.­html (accessed May 26, 2025).
ORS § 734.760 — OR Code / Title 56 / Chapter 734 / Section 734.760
734.760 Definitions for ORS 734.750 to 734.890
Status: in_force

As used in ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) , unless the context requires otherwise:

(1) “Account” means one of the three accounts created under ORS 734.800 (Oregon Life and Health Insurance Guaranty Association) .

(2) “Association” means the Oregon Life and Health Insurance Guaranty Association created under ORS 734.800 (Oregon Life and Health Insurance Guaranty Association) .

(3) “Contractual obligation” means any obligation under a covered policy or contract or a certificate under a group policy or contract.

(4) “Covered policy” means any policy or contract or a certificate under a group policy or contract to which ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) apply.

(5) “Disability insurance” means health insurance that provides income payments to an insured wage earner whose income is interrupted due to an accident or illness. “Disability insurance” does not include workers’ compensation insurance.

(6) “Impaired insurer” means a member insurer that is subject to an order of rehabilitation under ORS 734.063 (Court order) or an order of conservation under ORS 734.200 (Conservation or ancillary receivership of foreign and alien insurers) after September 13, 1975. “Impaired insurer” does not include an insolvent insurer.

(7) “Insolvent insurer” means a member insurer that, after September 13, 1975, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency.

(8) “Long term care insurance” has the meaning given that term in ORS 743.652 (Definitions for ORS 743.650 to 743.665) .

(9) Intentionally left blank —Ed.

(a) “Member insurer” means any insurer currently authorized to transact in this state any kind of insurance to which ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) apply, regardless of whether the insurer’s authorization to transact insurance was, in the past, suspended, revoked, not renewed or voluntarily withdrawn.

(b) “Member insurer” does not include:

(A) A hospital or medical service organization, whether for-profit or nonprofit;

(B) A health maintenance organization;

(C) A fraternal benefit society;

(D) A mandatory state pooling plan;

(E) A mutual assessment company or other person that operates on an assessment basis;

(F) An insurance exchange; or

(G) An organization that has a certificate of authority limited to the issuance of charitable gift annuities under ORS 731.038 (Application of Insurance Code to charitable organizations that issue charitable gift annuities) .

(10) “Premiums” means direct gross insurance, including annuity, premiums written on covered policies, less return premiums thereon and dividends paid or credited to policyholders on such direct business. “Premiums” does not include premiums on contracts between insurers and reinsurers or any premiums on policies or contracts excluded under ORS 734.790 (Application) .

(11) Intentionally left blank —Ed.

(a) “Principal place of business” means:

(A) For a plan sponsor or a person other than a natural person, the state in which the natural persons who establish policy for the direction, control and coordination of the operations of the entity as a whole primarily exercise that function, as determined by the association after considering the following factors:

(i) The state in which the primary executive and administrative headquarters of the entity is located;

(ii) The state in which the principal office of the chief executive officer of the entity is located;

(iii) The state in which the board of directors or governing body of the entity conducts the majority of its meetings;

(iv) The state in which the executive or management committee of the board of directors of the entity conducts the majority of its meetings; and

(v) The state from which the management of the overall operations of the entity is directed.

(B) For a benefit plan sponsored by affiliated companies comprising a consolidated corporation, the state in which the holding company or controlling affiliate has its principal place of business as determined using the factors set forth in subparagraph (A) of this paragraph.

(C) For a plan sponsor of a benefit plan for which more than 50 percent of the participants in the benefit plan are employed in a single state, the state in which those participants are employed.

(D) Absent a specific or clear designation of a principal place of business for a plan sponsor of a benefit plan established or maintained by two or more employers or jointly by one or more employers and one or more employee organizations, the principal place of business of the association, committee, joint board of trustees or other governing body of the employer or employee organization that has the largest investment in the benefit plan.

(b) As used in this subsection, “plan sponsor” means:

(A) The employer for a benefit plan established or maintained by a single employer.

(B) The employee organization for a benefit plan established or maintained by an employee organization.

(C) For a benefit plan established or maintained by two or more employers or jointly by one or more employers and one or more employee organizations, the association, committee, joint board of trustees or other governing bodies of the parties that establish or maintain the benefit plan.

(12) “Resident” means a person to whom contractual obligations are owed by a member insurer and who resides in this state on the date a court order is entered that determines the member insurer to be an impaired insurer or an insolvent insurer. A person may be a resident of only one state, which in the case of a person other than a natural person shall be its principal place of business. A citizen of the United States who resides in a foreign country, or resides in a United States possession, territory or protectorate that does not have an association similar to the association created under ORS 734.800 (Oregon Life and Health Insurance Guaranty Association) , shall be considered a resident of the state of domicile of the insurer that issued the policies or contracts. If a person could be covered by the association of another state, whether as an owner, payee, beneficiary or assignee, ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) shall be construed with the laws of the other state to result in coverage by only one association.

(13) “Structured settlement annuity” means an annuity purchased to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

(14) “Supplemental contract” means a written agreement entered into for the distribution of proceeds under a life or health insurance policy or an annuity contract.

(15) “Unallocated annuity contract” means an annuity contract or group annuity certificate that is not issued to and owned by an individual, except to the extent that any annuity benefits may be guaranteed to an individual under the contract or certificate. [1975 c.251 §6; 1987 c.414 §180; 1991 c.811 §1; 2011 c.142 §1]

Source: Section 734.760 — Definitions for ORS 734.750 to 734.890 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html (accessed May 26, 2025).
ORS § 737.265 — OR Code / Title 56 / Chapter 737 / Section 737.265
737.265 Unauthorized adherence to rates, rating systems
Status: in_force

(1) Members and subscribers of rating or advisory organizations may use the rates, rating systems, underwriting rules or policy or bond forms of such organizations, either consistently or intermittently, but, except as provided in ORS 737.275 (Preparation of rates, rating systems and other administrative matters by insurers under common ownership) , 737.312 (Agreements among insurers for assignment of risks) , 737.365 (Cooperative activities among rating organizations and insurers) , 737.390 (Regulation of joint underwriting and joint reinsurance) , 737.526 (Interchange of data) and subsection (2) of this section, shall not agree with each other or rating organizations or others to adhere thereto. The fact that two or more authorized insurers, whether or not members or subscribers of a rating or advisory organization, use, either consistently or intermittently, the rates or rating systems made or adopted by a rating organization, or the underwriting rules or policy or bond forms prepared by a rating or advisory organization, shall not be sufficient in itself to support a finding that an agreement to so adhere exists, and may be used only for the purpose of supplementing or explaining any competent evidence of the existence of any such agreement.

(2) Each insurer transacting workers’ compensation insurance shall adhere to the policy forms filed by the licensed workers’ compensation rating organization of which the insurer is a member and approved by the Director of the Department of Consumer and Business Services. [1969 c.690 §19; 1971 c.385 §4; 1977 c.333 §1; 1981 c.535 §18; 1999 c.235 §3]

Source: Section 737.265 — Unauthorized adherence to rates, rating systems; workers’ compensation insurance policy forms , https://www.­oregonlegislature.­gov/bills_laws/ors/ors737.­html (accessed May 26, 2025).
ORS § 731.822 — OR Code / Title 56 / Chapter 731 / Section 731.822
731.822 Prepayment of tax due
Status: in_force

(1) Every insurer with a tax obligation under section 2, chapter 786, Oregon Laws 1995, ORS 731.820 (Gross premium tax on fire insurance premiums) or ORS 731.854 (Retaliatory tax) and 731.859 (Applicability of retaliatory provisions) shall make prepayment of the tax obligations under section 2, chapter 786, Oregon Laws 1995, ORS 731.820 (Gross premium tax on fire insurance premiums) , 731.854 (Retaliatory tax) and 731.859 (Applicability of retaliatory provisions) for the current calendar year’s business, if the sum of the tax obligations under section 2, chapter 786, Oregon Laws 1995, ORS 731.820 (Gross premium tax on fire insurance premiums) , 731.854 (Retaliatory tax) and 731.859 (Applicability of retaliatory provisions) for the preceding calendar year’s business is $400 or more.

(2) The Director of the Department of Consumer and Business Services shall credit the prepayment toward the appropriate tax obligations of the insurer for the current calendar year under section 2, chapter 786, Oregon Laws 1995, or ORS 731.820 (Gross premium tax on fire insurance premiums) or ORS 731.854 (Retaliatory tax) and 731.859 (Applicability of retaliatory provisions) .

(3) The amounts of the prepayments shall be percentages of the insurer’s tax obligation based on the preceding calendar year’s business adjusted, if necessary, to reflect the declining percentages set forth in section 2 (3), chapter 786, Oregon Laws 1995, applicable for the current year, and shall be paid to the director by the due dates and in the following amounts:

(a) On or before June 15, 45 percent;

(b) On or before September 15, 25 percent; and

(c) On or before December 15, 25 percent.

(4) The effect of transferring policies of insurance from one insurer to another insurer is to transfer the tax prepayment obligation with respect to such policies.

(5) On or before June 1 of each year, the director shall notify each insurer required to make prepayments in that year of the amount of each prepayment, and shall provide remittance forms to be used by the insurer. However, an insurer’s responsibility to make prepayments is not affected by failure of the director to send, or the insurer to receive, the notice or forms. [1980 c.10 §2; 1995 c.786 §5]

Source: Section 731.822 — Prepayment of tax due , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 750.035 — OR Code / Title 56 / Chapter 750 / Section 750.035
750.035 Regulation of hospital care associations under prior law
Status: in_force

(1) Notwithstanding any other provision of law, except as provided in subsection (2) of this section, any persons doing a hospital association business, as defined in ORS 742.010 (1959 Replacement Part) in compliance with ORS chapter 742 (1959 Replacement Part) on August 12, 1965, may continue such business in compliance with ORS chapter 742 (1959 Replacement Part).

(2) Every person doing a hospital association business, as defined in ORS 742.010 (1959 Replacement Part), on August 12, 1965, shall comply with the provisions of ORS 750.045 (Required capitalization) , 750.055 (Other provisions applicable to health care service contractors) , 750.085 (Offer of replacement coverage upon order of liquidation) and 750.095 (Requirements of contract between provider and subscriber) . [Formerly 742.035; 1989 c.783 §5]

Source: Section 750.035 — Regulation of hospital care associations under prior law; exceptions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors750.­html (accessed May 26, 2025).
ORS § 750.095 — OR Code / Title 56 / Chapter 750 / Section 750.095
750.095 Requirements of contract between provider and subscriber
Status: in_force

(1) For the purpose of this section only, and only in the event of a finding of impairment by the Director of the Department of Consumer and Business Services or of a final order of liquidation, as described in ORS 750.085 (Offer of replacement coverage upon order of liquidation) , any covered health care service furnished within the state by a provider to a subscriber of a health care service contractor shall be considered to have been furnished pursuant to a contract between the provider and the health care service contractor with whom the subscriber was enrolled when the services were furnished.

(2) Each contract between a health care service contractor and a provider of health care services shall provide that if the health care service contractor fails to pay for covered health care services as set forth in the subscriber’s evidence of coverage or contract, the subscriber is not liable to the provider for any amounts owed by the health care service contractor.

(3) If the contract between the contracting provider and the health care service contractor has not been reduced to writing or fails to contain the provisions required by subsection (2) of this section, the subscriber is not liable to the contracting provider for any amounts owed by the health care service contractor.

(4) No contracting provider or agent, trustee or assignee of the contracting provider may maintain a civil action against a subscriber to collect any amounts owed by the health care service contractor for which the subscriber is not liable to the contracting provider under this section.

(5) Nothing in this section impairs the right of a provider to charge, collect from, attempt to collect from or maintain a civil action against a subscriber for any of the following:

(a) Deductible, copayment or coinsurance amounts.

(b) Health care services not covered by the health care service contractor.

(c) Health care services rendered after the termination of the contract between the health care service contractor and the provider, unless the health care services were rendered during the confinement in an inpatient facility and the confinement began prior to the date of termination or unless the provider has assumed post-termination treatment obligations under the contract.

(6) Nothing in this section prohibits a subscriber from seeking noncovered health care services from a provider and accepting financial responsibility for these services.

(7) No health care service contractor shall limit the right of a provider of health care services to contract with the patient for payment of services not within the scope of the coverage offered by the health care service contractor. [1989 c.783 §3]

Source: Section 750.095 — Requirements of contract between provider and subscriber; content , https://www.­oregonlegislature.­gov/bills_laws/ors/ors750.­html (accessed May 26, 2025).
ORS § 731.760 — OR Code / Title 56 / Chapter 731 / Section 731.760
731.760 Definitions for ORS 731.760 to 731.770
Status: in_force

As used in ORS 731.760 (Definitions for ORS 731.760 to 731.770) to 731.770 (Other privileges or limitations pertaining to audit document) :

(1) “Insurance compliance audit” means a voluntary internal evaluation, review, assessment, audit or investigation that is undertaken to identify or prevent noncompliance with, or promote compliance with, laws, regulations, orders or industry or professional standards, and that is conducted by or on behalf of an insurer regulated under the Insurance Code.

(2) “Insurance compliance self-evaluative audit document” means a document prepared as a result of or in connection with an insurance compliance audit. “Insurance compliance self-evaluative audit document” includes, but is not limited to:

(a) A written response to the findings of an insurance compliance audit.

(b) Field notes and records of observations, findings, opinions, suggestions, conclusions, drafts, memoranda, drawings, photographs, exhibits, computer-generated or electronically recorded information, phone records, maps, charts, graphs and surveys, provided this supporting information is collected or developed solely for the purpose of an insurance compliance audit.

(c) An insurance compliance audit report prepared by an auditor, who may be an employee of the insurer or an independent contractor, which may include the scope of the audit, the information gained in the audit and conclusions and recommendations, with exhibits and appendices.

(d) Memoranda and documents analyzing portions or all of the insurance compliance audit report and discussing potential implementation issues.

(e) An implementation plan that addresses correcting past noncompliance, improving current compliance and preventing future noncompliance.

(f) Analytic data generated in the course of conducting the insurance compliance audit, not including any analytic data that exists independently of the audit or existed before the audit was conducted. [2001 c.329 §2]

Source: Section 731.760 — Definitions for ORS 731.760 to 731.770 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 744.609 — OR Code / Title 56 / Chapter 744 / Section 744.609
744.609 Exemptions
Status: in_force

The following persons are not insurance consultants for the purposes of this chapter, and the prohibition in ORS 744.605 (Insurance consultant’s license required) does not apply to them:

(1) Any attorney-at-law rendering services in the performance of duties of an attorney-at-law.

(2) Any certified public accountant or public accountant rendering services in the performance of the duties of a certified public accountant or public accountant, as authorized by law.

(3) Any person who, while conducting an educational seminar, performs any of the activities described in ORS 744.605 (Insurance consultant’s license required) (1)(b).

(4) Any financial institution, as defined in ORS 706.008 (Additional definitions for Bank Act) , or consumer finance licensee under ORS chapter 725.

(5) Any actuary who is a member of an organization determined by the Director of the Department of Consumer and Business Services as establishing standards for the actuarial profession.

(6) A person who provides or offers or purports to provide any of the services described in ORS 744.605 (Insurance consultant’s license required) only to an insurance producer or an authorized insurer. [1985 c.697 §3; 1989 c.701 §54; 1991 c.810 §16; 1997 c.419 §2; 1999 c.59 §228; 2003 c.364 §123]

Source: Section 744.609 — Exemptions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 743.195 — OR Code / Title 56 / Chapter 743 / Section 743.195
743.195 Installment payments
Status: in_force

A life insurance policy shall contain a table showing the amounts of installments, if any, by which its proceeds may be payable. [1967 c.359 §387]

Source: Section 743.195 — Installment payments , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 742.530 — OR Code / Title 56 / Chapter 742 / Section 742.530
742.530 Exclusions from coverage
Status: in_force

(1) The insurer may exclude from the coverage for personal injury protection benefits any injured person who:

(a) Intentionally causes self-injury;

(b) Is participating in any prearranged or organized racing or speed contest or practice or preparation for any such contest; or

(c) Willfully conceals or misrepresents any material fact in connection with a claim for personal injury protection benefits.

(2) The insurer may exclude from the coverage for the benefits required by ORS 742.524 (Contents of personal injury protection benefits) (1)(b) and (c) any person injured as a pedestrian in an accident outside this state, other than the insured person or a member of that person’s family residing in the same household. [Formerly 743.815; 2005 c.341 §2]

Source: Section 742.530 — Exclusions from coverage , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 743.453 — OR Code / Title 56 / Chapter 743 / Section 743.453
743.453 Misstatement of age
Status: in_force

A health insurance policy may contain a provision as follows: “MISSTATEMENT OF AGE: If the age of the insured has been misstated, all amounts payable under this policy shall be such as the premium paid would have purchased at the correct age.” [1967 c.359 §443]

Source: Section 743.453 — Misstatement of age , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 743.025 — OR Code / Title 56 / Chapter 743 / Section 743.025
743.025 Annual report of information related to prescription drugs covered by health benefit plans
Status: in_force

(1) As used in this section, “health benefit plan” has the meaning given that term in ORS 743B.005 (Definitions) .

(2) An insurer shall annually report the following information to the Department of Consumer and Business Services, in the form and manner prescribed by the department, regarding drugs reimbursed by the insurer under health benefit plans issued by the insurer in this state:

(a) The 25 most frequently prescribed drugs;

(b) The 25 most costly drugs as a portion of total annual spending;

(c) The 25 drugs that have caused the greatest increase in total plan spending from one year to the next; and

(d) The impact of the costs of prescription drugs on premium rates.

(3) The department shall conduct a public hearing annually on prescription drug prices, information reported to the department under ORS 646A.689 (Requirement to report certain information concerning drug manufacturing and pricing) and information described in subsection (2) of this section.

(4) The department shall regularly update the interim committees of the Legislative Assembly related to health on the information described in subsection (2) of this section.

(5) Subsection (2) of this section applies to an insurer that issues health benefit plans for sale in this state that include a prescription drug benefit. [2018 c.7 §5; 2023 c.466 §10]

Note: 743.025 (Annual report of information related to prescription drugs covered by health benefit plans) was added to and made a part of the Insurance Code by legislative action but was not added to ORS chapter 743 or any series therein. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 743.025 — Annual report of information related to prescription drugs covered by health benefit plans; reports to Legislative Assembly , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 742.483 — OR Code / Title 56 / Chapter 742 / Section 742.483
742.483 Effective period for premium reduction
Status: in_force

Except as otherwise provided in this section, the premium reduction required under ORS 742.480 (Appropriate premium charge reduction for certain motorcycle insurance policies) shall be effective for an insured for a three-year period after successful completion of the approved course. [2009 c.771 §3]

Note: See note under 742.480 (Appropriate premium charge reduction for certain motorcycle insurance policies) .

Source: Section 742.483 — Effective period for premium reduction , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 751.001 — OR Code / Title 56 / Chapter 751 / Section 751.001
751.001 Universal Health Plan Governance Board
Status: in_force

(1) The Universal Health Plan Governance Board is established in the Department of Consumer and Business Services, consisting of nine members appointed by the Governor who must:

(a) Support the objective of the board described in ORS 751.002 (Creation of comprehensive plan to finance and administer Universal Health Plan) (2);

(b) Support the values and principles expressed in ORS 751.002 (Creation of comprehensive plan to finance and administer Universal Health Plan) (3)(a) and (b); and

(c) Represent a variety of health care professionals and community perspectives, including individuals with experience:

(A) As enrollees in the state medical assistance program or Medicare; and

(B) Being without health insurance coverage.

(2) Of the membership of the board:

(a) Five members must have expertise in health care delivery, health care finance, health care operations or public administration; and

(b) Four members must be focused on public engagement.

(3) The term of office of each member of the board is four years, but a member serves at the pleasure of the Governor. Before the expiration of the term of a member, the Governor shall appoint a successor whose term begins on January 2 next following. A member is eligible for reappointment. If there is a vacancy for any cause, the Governor shall make an appointment to become immediately effective for the unexpired term.

(4) The appointment of each member of the board is subject to confirmation by the Senate in the manner prescribed in ORS 171.562 (Procedures for confirmation) and 171.565 (Vote required for confirmation) .

(5) A member of the board is entitled to compensation and reimbursement of actual and necessary travel and other expenses incurred by the member in the performance of the member’s official duties in accordance with ORS 292.495 (Compensation and expenses of members of state boards and commissions) .

(6) The board shall select one of its members as chairperson and another as vice chairperson, for terms and with duties and powers necessary for the performance of the functions of the offices as the board determines.

(7) A majority of the members of the board constitutes a quorum for the transaction of business.

(8) The board shall meet at a time and place determined by the board. The board also may meet at other times and places specified by the call of the chairperson or of a majority of the members of the board.

(9) In accordance with applicable provisions of ORS chapter 183, the board may adopt rules necessary for the administration of the laws that the board is charged with administering.

(10) Intentionally left blank —Ed.

(a) The board may establish any advisory or technical committees the board considers necessary to aid and advise the board in the performance of its functions. The committees may be continuing or temporary committees. The board shall determine the representation, membership, terms and organization of the committees and shall appoint the members of the committees.

(b) Members of the committees are not entitled to compensation but, in the discretion of the board, may be reimbursed from funds available to the board for actual and necessary travel and other expenses incurred by the members in the performance of official duties in the manner and amount provided in ORS 292.495 (Compensation and expenses of members of state boards and commissions) .

(11) Intentionally left blank —Ed.

(a) The board shall appoint an executive director to serve at the pleasure of the board, to be responsible for the administrative operations of the board and to perform such other duties as may be designated or assigned to the executive director from time to time by the board. The board shall fix the compensation of the executive director in accordance with ORS chapter 240.

(b) Subject to any applicable provisions of ORS chapter 240, the executive director shall appoint staff as needed for policy analysis and administrative support.

(c) The executive director shall contract with experts and consultants as necessary to carry out ORS 751.002 (Creation of comprehensive plan to finance and administer Universal Health Plan) (3). [2023 c.613 §1]

Source: Section 751.001 — Universal Health Plan Governance Board; membership; terms; appointment of executive director; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors751.­html (accessed May 26, 2025).
ORS § 734.580 — OR Code / Title 56 / Chapter 734 / Section 734.580
734.580 Discretionary functions of association
Status: in_force

The Oregon Insurance Guaranty Association may:

(1) With the approval of the Director of the Department of Consumer and Business Services, employ or retain such persons or designate such servicing facilities as are necessary to handle claims and perform the other duties of the association. Servicing facilities so designated may be foreign corporations or associations.

(2) Borrow funds necessary to carry out ORS 734.510 (Definitions for ORS 734.510 to 734.710) to 734.710 (Administration of delinquency proceeding claims and expenses) , in such manner as may be specified in the plan.

(3) Sue or be sued.

(4) Negotiate and become a party to such contracts as are necessary to carry out ORS 734.510 (Definitions for ORS 734.510 to 734.710) to 734.710 (Administration of delinquency proceeding claims and expenses) .

(5) At the end of any calendar year, refund to member insurers, in proportion to an insurer’s payments to the association, that amount by which the board of directors find that the funds of the association exceed its current claims and expenses plus the liabilities estimated for the coming year.

(6) Perform such other acts as are necessary or proper to carry out ORS 734.510 (Definitions for ORS 734.510 to 734.710) to 734.710 (Administration of delinquency proceeding claims and expenses) . [1971 c.616 §9]

Source: Section 734.580 — Discretionary functions of association , https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html (accessed May 26, 2025).
ORS § 746.405 — OR Code / Title 56 / Chapter 746 / Section 746.405
746.405 Definitions for ORS 746.405 to 746.530
Status: in_force

As used in ORS 746.405 (Definitions for ORS 746.405 to 746.530) to 746.530 (Attorney fees) , unless the context requires otherwise:

(1) “Premium finance agreement” means an agreement by which an insured or prospective insured promises to pay to a premium finance company or to its assignee the amount advanced or to be advanced under the agreement to an insurer or to an insurance producer in payment of premiums on an insurance policy together with a service charge. No mortgage, conditional sale contract or other security agreement covering property which authorizes the lienholder to pay or advance premiums for insurance with respect thereto shall be deemed to be a premium finance agreement.

(2) “Premium finance company” means a person engaged in the business of entering into premium finance agreements with insureds or of acquiring such premium finance agreements from insurance producers or other premium finance companies. [1969 c.639 §2; 2003 c.364 §146]

Source: Section 746.405 — Definitions for ORS 746.405 to 746.530 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors746.­html (accessed May 26, 2025).
ORS § 746.425 — OR Code / Title 56 / Chapter 746 / Section 746.425
746.425 Applicability of ORS 746.405 to 746.530
Status: in_force

ORS 746.405 (Definitions for ORS 746.405 to 746.530) to 746.530 (Attorney fees) do not apply to:

(1) Any insurer authorized to transact business in this state who finances insurance premiums on domestic risks with a service charge no greater than that provided in ORS 746.485 (Regulation of service charge for premium financing) and 746.495 (Delinquency charges regulated) ;

(2) Any bank, trust company, savings and loan association, credit union or other lending institution authorized to transact business in this state that does not possess or acquire any right, title or interest with respect to the insurance policy for which the premiums are financed other than in the proceeds thereof in the event of loss;

(3) The inclusion of a charge for insurance in connection with an installment sale in accordance with ORS 83.010 (Definitions for ORS 83.010 to 83.190) to 83.820 (Consumer paper) and 83.990 (Penalties) ; or

(4) Insurance producers financing only their own accounts and whose aggregate charge for financing does not exceed one and one-half percent per month on the outstanding balance. [1969 c.639 §4; 1981 c.412 §22; 2003 c.364 §147]

Source: Section 746.425 — Applicability of ORS 746.405 to 746.530 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors746.­html (accessed May 26, 2025).
ORS § 742.558 — OR Code / Title 56 / Chapter 742 / Section 742.558
742.558 Dispute resolution process for total loss vehicles
Status: in_force

(1) An insurer shall pay the insured or third-party owner of a motor vehicle the amount of the motor vehicle’s value that is not in dispute if the insurer declares the motor vehicle a total loss and the insurer and the insured or third-party owner are unable to agree on the value of the motor vehicle. Acceptance of payment of the undisputed amount neither waives the rights of the insured or third-party owner under the policy nor prevents the insured or third-party owner from pursuing a claim for additional amounts. Payment of the undisputed amount by the insurer does not waive any rights of the insurer under the policy.

(2) An insurer is not obligated to pay the undisputed amount under subsection (1) of this section until the insured or third-party owner of the motor vehicle:

(a) Agrees to execute documents sufficient to transfer ownership of the motor vehicle to the insurer; and

(b) Authorizes the insurer, at the insurer’s expense, to move the motor vehicle to a disclosed location selected by the insurer, where the motor vehicle will remain available for inspection and evaluation for not fewer than 14 calendar days.

(3) After the expiration of the 14-day period under subsection (2) of this section, the insurer may proceed with the salvage sale of the motor vehicle. [2009 c.65 §3]

Note: See note under 742.554 (Disclosures required by insurer to motor vehicle owner when insurer declares vehicle total loss) .

Source: Section 742.558 — Dispute resolution process for total loss vehicles , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 731.252 — OR Code / Title 56 / Chapter 731 / Section 731.252
731.252 Cease and desist orders
Status: in_force

(1) Whenever the Director of the Department of Consumer and Business Services has reason to believe that any person has been engaged or is engaging or is about to engage in any violation of the Insurance Code, the director may issue an order, directed to such person, to discontinue or desist from such violation or threatened violation. The copy of the order forwarded to the person involved shall set forth a statement of the specific charges and the fact that the person may request a hearing within 20 days of the date of mailing. Where a hearing is requested, the director shall set a date for the hearing to be held within 30 days after receipt of the request, and shall give the person involved written notice of the hearing date at least seven days prior thereto. The person requesting the hearing must establish to the satisfaction of the director that such order should not be complied with. The order shall become final 20 days after the date of mailing unless within such 20-day period the person to whom it is directed files with the director a written request for a hearing. To the extent applicable and not inconsistent with the foregoing, the provisions of ORS chapter 183 shall govern the hearing procedure and any judicial review thereof. Where the hearing has been requested, the director’s order shall become final at such time as the right to further hearing or review has expired or been exhausted.

(2) No order of the director under this section or order of a court to enforce the same shall in any way relieve or absolve any person affected by such order from any liability under any other laws of this state.

(3) The powers vested in the director pursuant to this section are supplementary and not in lieu of any other powers to suspend or revoke certificates of authority or licenses or to enforce any penalties, fines or forfeitures, authorized by law with respect to any violation for which an order of discontinuance has been issued. [Formerly 736.835]

Source: Section 731.252 — Cease and desist orders , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 743a.148 — OR Code / Title 56 / Chapter 743a / Section 743a.148
743A.148 Maxillofacial prosthetic services
Status: in_force

(1) The Legislative Assembly declares that all group health insurance policies providing hospital, medical or surgical expense benefits, other than limited benefit coverage, include coverage for maxillofacial prosthetic services considered necessary for adjunctive treatment.

(2) As used in this section, “maxillofacial prosthetic services considered necessary for adjunctive treatment” means restoration and management of head and facial structures that cannot be replaced with living tissue and that are defective because of disease, trauma or birth and developmental deformities when such restoration and management are performed for the purpose of:

(a) Controlling or eliminating infection;

(b) Controlling or eliminating pain; or

(c) Restoring facial configuration or functions such as speech, swallowing or chewing but not including cosmetic procedures rendered to improve on the normal range of conditions.

(3) The coverage required by subsection (1) of this section may be made subject to provisions of the policy that apply to other benefits under the policy including, but not limited to, provisions relating to deductibles and coinsurance.

(4) The services described in this section shall apply to individual health policies entered into or renewed on or after January 1, 1982. [Formerly 743.706; 2016 c.11 §5]

Source: Section 743A.148 — Maxillofacial prosthetic services , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743A.­html (accessed May 26, 2025).
ORS § 751.101 — OR Code / Title 56 / Chapter 751 / Section 751.101
751.101 Report to Legislative Assembly
Status: in_force

(1) The Universal Health Plan Governance Board shall provide a status report no later than December 1 of each year, beginning in 2024, to the interim committees of the Legislative Assembly related to health, on the progress in the development of the comprehensive plan and any needed legislative changes.

(2) The report need not be in compliance with ORS 192.245 (Form of report to legislature) . [2023 c.613 §3]

Source: Section 751.101 — Report to Legislative Assembly , https://www.­oregonlegislature.­gov/bills_laws/ors/ors751.­html (accessed May 26, 2025).
ORS § 734.113 — OR Code / Title 56 / Chapter 734 / Section 734.113
734.113 Application of Oregon Receivership Code
Status: in_force

Notwithstanding ORS 37.040 (Applicability) , the Oregon Receivership Code does not apply to delinquency proceedings under this chapter. [2017 c.358 §57]

Note: 734.113 (Application of Oregon Receivership Code) was added to and made a part of ORS chapter 734 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 734.113 — Application of Oregon Receivership Code , https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html (accessed May 26, 2025).
ORS § 731.566 — OR Code / Title 56 / Chapter 731 / Section 731.566
731.566 Reciprocal insurer surplus requirements
Status: in_force

To qualify for authority to transact insurance in this state, a reciprocal insurer shall possess and thereafter maintain a surplus of not less than $2.5 million, and any reciprocal insurer that exchanges policies of insurance covering workers’ compensation insurance shall possess and thereafter maintain a surplus of not less than $5 million. [1967 c.359 §109; 1975 c.274 §1; 1977 c.651 §2; 1987 c.483 §3; 1993 c.709 §3; 2001 c.318 §3]

Source: Section 731.566 — Reciprocal insurer surplus requirements , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 746.018 — OR Code / Title 56 / Chapter 746 / Section 746.018
746.018 Discrimination in issuance of burglary, theft, robbery or casualty policies prohibited
Status: in_force

(1) In cities of 300,000 or more, and except as provided in subsection (3) of this section, no insurer shall make or permit any unfair discrimination between risks of essentially the same degree of hazard in the issuance of burglary and theft or robbery insurance policies or casualty insurance policies which insure against liability to persons arising out of the use or control of real or personal property other than motor vehicles.

(2) Property insured or persons insured against liability arising out of use or control of real or personal property other than motor vehicles, if comparable in other respects in exposures to the peril insured against, shall not be deemed to be of different hazard solely because of the geographic location of the property or the place of residence or business of the person to be insured.

(3) Notwithstanding subsection (1) of this section an insurer may make or permit discrimination between risks of essentially the same degree of hazard in the issuance of insurance policies described in subsection (1) of this section if the insurer, at the time of the discrimination, insures a percentage of the similar risks at least equal to the ratio that its premiums for the respective line of business as reported in the annual statement required by ORS 731.574 (Annual financial statement) for the second preceding calendar year bears to the total premium for the same line of business as reported by all insurers in the annual statements required by ORS 731.574 (Annual financial statement) for the second preceding calendar year, within a square one mile on each side centered upon the location of the property, insurance in regard to which the insurer declines to issue. [1971 c.522 §2; 1973 c.9 §1]

Source: Section 746.018 — Discrimination in issuance of burglary, theft, robbery or casualty policies prohibited , https://www.­oregonlegislature.­gov/bills_laws/ors/ors746.­html (accessed May 26, 2025).
ORS § 748.501 — OR Code / Title 56 / Chapter 748 / Section 748.501
748.501 Examination
Status: in_force

(1) The Director of the Department of Consumer and Business Services, or any person the director may appoint, may examine any domestic, foreign or alien society transacting or applying for admission to transact business in this state in the same manner as authorized for examination of domestic, foreign or alien insurers. Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurers shall also be applicable to the examination of societies.

(2) The expense of each examination and of each valuation, including compensation and actual expense of examiners, shall be paid by the society examined or whose certificates are valued, upon statements furnished by the director. [1987 c.490 §29]

Source: Section 748.501 — Examination , https://www.­oregonlegislature.­gov/bills_laws/ors/ors748.­html (accessed May 26, 2025).
ORS § 734.650 — OR Code / Title 56 / Chapter 734 / Section 734.650
734.650 Notifying director of impaired insurers
Status: in_force

(1) Whenever the board obtains any information indicating that any member insurer is impaired or in a financial condition hazardous to the policyholders or the public, the board shall so notify the Director of the Department of Consumer and Business Services.

(2) The board may request the director to examine any member insurer that the board in good faith believes to be impaired or in a financial condition hazardous to the policyholders or the public. The director shall cause the examination to begin within 30 days after the receipt of any such request. Except as otherwise provided in ORS 734.510 (Definitions for ORS 734.510 to 734.710) to 734.710 (Administration of delinquency proceeding claims and expenses) , the examination shall be conducted as provided in ORS chapter 731.

(3) The director shall report the results of an examination to the board and shall notify the board whenever the director has reasonable cause to believe during an examination that the insurer is impaired or insolvent. The results of the completed examination shall not be released to the board before release to the public. The request for examination shall not be available for public inspection before release of the results of the examination to the public.

(4) The board may make such reports and recommendations to the director regarding the insolvency, liquidation, rehabilitation or conservation of member insurers as the board considers appropriate. Any such reports or recommendations are not public records. [1971 c.616 §17]

Source: Section 734.650 — Notifying director of impaired insurers; examination; reports on impaired insurers , https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html (accessed May 26, 2025).
ORS § 735.105 — OR Code / Title 56 / Chapter 735 / Section 735.105
735.105 Regulation of association as insurer
Status: in_force

The Oregon FAIR Plan Association is subject to regulation by the Director of the Department of Consumer and Business Services in the same manner as an insurer, to the extent determined by the director to be necessary to carry out the purpose of ORS 735.005 (Definitions for ORS 735.005 to 735.145) to 735.145 (Immunity from legal action in carrying out duties) . Not later than March 30 of each year the board shall submit to the director, in a form approved by the director, a financial report for the preceding calendar year. [1971 c.321 §12]

Source: Section 735.105 — Regulation of association as insurer; financial report to director , https://www.­oregonlegislature.­gov/bills_laws/ors/ors735.­html (accessed May 26, 2025).
ORS § 731.730 — OR Code / Title 56 / Chapter 731 / Section 731.730
731.730 Insurer filings with National Association of Insurance Commissioners
Status: in_force

(1) Every authorized insurer shall file with the National Association of Insurance Commissioners, on or before March 1 of each year, a copy of its annual statement blank, along with additional filings required by the Director of the Department of Consumer and Business Services for the preceding year. The information filed with the National Association of Insurance Commissioners must be in the same format and scope as that required by the director and must include the signed jurat page and the actuarial certification. Each amendment and each addendum to the annual statement filing subsequently filed with the director must also be filed with the National Association of Insurance Commissioners.

(2) A foreign insurer that is domiciled in a state having a law substantially similar to the provisions of subsection (1) of this section is considered to be in compliance with this section.

(3) An insurer making a filing under subsection (1) of this section must pay the National Association of Insurance Commissioners the fee established by the National Association of Insurance Commissioners for filing, reviewing or processing the information. [1993 c.447 §100]

Source: Section 731.730 — Insurer filings with National Association of Insurance Commissioners , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 731.074 — OR Code / Title 56 / Chapter 731 / Section 731.074
731.074 “Commercial liability insurance.”
Status: in_force

(1) “Commercial liability insurance” means insurance for a business, professional, nonprofit or governmental entity against legal, contractual or assumed liability for death, injury or disability of any human, or for damage to property, arising out of acts or omissions in the course of the conduct of the entity.

(2) “Commercial liability insurance” does not include the following lines of insurance or classes of business:

(a) Marine and transportation insurance;

(b) Wet marine and transportation insurance;

(c) FAIR plans and automobile assigned risk insurance;

(d) Workers’ compensation and employers’ liability insurance;

(e) Nuclear liability insurance;

(f) Fidelity and surety insurance;

(g) Hazardous waste and environmental impairment insurance;

(h) Aviation insurance; or

(i) Commercial automobile insurance.

(3) As used in this section, “commercial automobile” means a four wheel passenger or station wagon type of vehicle used as a public or private conveyance, including a motor vehicle of the utility, pickup, sedan delivery or panel truck type used for wholesale or retail delivery, and a farm truck. [1987 c.774 §32]

Note: 731.074 (“Commercial liability insurance.”) was added to and made a part of the Insurance Code but was not added to ORS chapter 731 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 731.074 — “Commercial liability insurance.” , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 735.178 — OR Code / Title 56 / Chapter 735 / Section 735.178
735.178 Suspension or revocation of certificate of authority
Status: in_force

(1) The Director of the Department of Consumer and Business Services may suspend or revoke the certificate of authority issued to a captive insurer to transact insurance in this state if the captive insurer:

(a) Is insolvent or impaired as defined in ORS 734.014 (Definitions) ;

(b) Fails to meet the requirements of ORS 735.150 (Definitions for ORS 735.150 to 735.190) to 735.190 (Incorporation of captive reinsurer) ;

(c) Refuses or fails to submit an annual report required by ORS 735.172 (Reporting) or any other report or statement required by law or by order of the director;

(d) Fails to comply with the charter, bylaws or other organizational document of the captive insurer;

(e) Fails to submit to an examination under ORS 735.174 (Examination) or 735.182 (Examination of branch captive insurer and alien captive insurer) or any legal obligation relative to an examination under ORS 735.174 (Examination) or 735.182 (Examination of branch captive insurer and alien captive insurer) ;

(f) Refuses or fails to pay the cost of examination under ORS 735.174 (Examination) or 735.182 (Examination of branch captive insurer and alien captive insurer) ;

(g) Uses methods that, although not otherwise specifically prohibited by law, render:

(A) The operation of the captive insurer detrimental to the public or the policyholders of the captive insurer according to standards adopted by the director by rule; or

(B) The condition of the captive insurer unsound with respect to the public or to the policyholders of the captive insurer; or

(h) Otherwise fails to comply with laws of this state.

(2) If the director finds, upon examination, hearing or other evidence that a captive insurer has committed any of the acts specified in subsection (1) of this section, the director may suspend or revoke the certificate of authority issued to the captive insurer if the director considers it in the best interest of the public and the policyholders of the captive insurer. [2012 c.84 §16]

Note: See note under 735.150 (Definitions for ORS 735.150 to 735.190) .

Source: Section 735.178 — Suspension or revocation of certificate of authority , https://www.­oregonlegislature.­gov/bills_laws/ors/ors735.­html (accessed May 26, 2025).
ORS § 750.341 — OR Code / Title 56 / Chapter 750 / Section 750.341
750.341 Requirement for multiple employer welfare arrangement to become traditional insurer
Status: in_force

A trust carrying out a multiple employer welfare arrangement shall not provide coverage to more than 20,000 lives unless the trust first obtains a certificate of authority as an insurer in this state. [1993 c.615 §23]

Note: See note under 750.301 (Definitions for ORS 750.301 to 750.341) .

Source: Section 750.341 — Requirement for multiple employer welfare arrangement to become traditional insurer , https://www.­oregonlegislature.­gov/bills_laws/ors/ors750.­html (accessed May 26, 2025).
ORS § 733.060 — OR Code / Title 56 / Chapter 733 / Section 733.060
733.060 Unearned premium reserve
Status: in_force

(1) Every insurer shall maintain an unearned premium reserve on all policies in force.

(2) The Director of the Department of Consumer and Business Services may require that such reserves shall be equal to the unearned portions of the gross premiums in force as calculated pro rata on each respective risk from the policy’s date of issue. In the absence of such requirement, the unearned premium reserve shall be equal to the pro rata unearned portions of the gross premiums in force as calculated by an approximation method approved by the director. After adopting a method of computing such reserves, an insurer shall not change methods without approval of the insurance supervisory official of the insurer’s domicile.

(3) This section does not apply to:

(a) Marine and transportation insurance on trip risks not terminated.

(b) Health insurance.

(c) Title insurance.

(d) Home protection insurance under policies issued by a home protection insurer.

(e) Life insurance. [1967 c.359 §213; 1981 c.247 §9]

Source: Section 733.060 — Unearned premium reserve , https://www.­oregonlegislature.­gov/bills_laws/ors/ors733.­html (accessed May 26, 2025).
ORS § 734.820 — OR Code / Title 56 / Chapter 734 / Section 734.820
734.820 Plan of operation
Status: in_force

(1) Intentionally left blank —Ed.

(a) The Oregon Life and Health Insurance Guaranty Association shall maintain on file with the Director of the Department of Consumer and Business Services a plan of operation and shall submit any amendments thereto necessary or suitable to ensure the fair, reasonable and equitable administration of the association. Amendments to the plan shall become effective upon approval in writing by the director.

(b) If the association fails to submit suitable amendments to the plan, the director shall, after notice and hearing, adopt and promulgate such reasonable rules as are necessary or advisable to implement the provisions of ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) . Such rules shall continue in force until modified by the director or superseded by amendments submitted by the association and approved by the director.

(2) All member insurers shall comply with the plan of operation.

(3) The plan of operation shall, in addition to requirements enumerated elsewhere in ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) :

(a) Establish procedures for handling the assets of the association.

(b) Establish the amount and method of reimbursing members of the board of directors.

(c) Establish regular places and times for meetings of the board of directors.

(d) Establish procedures for records to be kept of all financial transactions of the association, its agents, and the board of directors.

(e) Establish the procedures whereby selections for the board of directors will be made and submitted to the director.

(f) Establish any additional procedures for assessments under ORS 734.815 (Assessment of members) .

(g) Contain additional provisions necessary or proper for the execution of the powers and duties of the association.

(h) Establish procedures for removing a member of the board of directors for cause, including removing a board member who represents a member insurer when the member insurer becomes either an impaired or insolvent insurer.

(i) Include a policy and procedures for addressing a conflict of interest.

(4) The plan of operation may provide that any or all powers and duties of the association, except those under ORS 734.810 (Duties and powers of association) (15)(c) and 734.815 (Assessment of members) , may be delegated to a corporation, association or other organization which performs or will perform functions similar to those of the association, or its equivalent, in two or more states. Such corporation, association or organization shall be reimbursed for any payments made on behalf of the association and shall be paid for its performance of any function of the association. A delegation under this subsection shall take effect only with the approval of both the board of directors and the director, and may be made only to a corporation, association or organization which extends protection not substantially less favorable and effective than that provided by ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) . [1975 c.251 §11; 1991 c.811 §6; 2011 c.142 §7]

Source: Section 734.820 — Plan of operation; submission of amendments to director; rules; contents of plan , https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html (accessed May 26, 2025).
ORS § 743a.090 — OR Code / Title 56 / Chapter 743a / Section 743a.090
743A.090 Natural and adopted children
Status: in_force

(1) Intentionally left blank —Ed.

(a) All individual and group health benefit plans, as defined in ORS 743B.005 (Definitions) , that include coverage for a family member of the insured shall also provide that the health insurance benefits applicable for children in the family shall be payable with respect to:

(A) A child of the insured from the moment of birth; and

(B) An adopted child effective upon placement for adoption.

(b) All individual and group health benefit plans, as defined in ORS 743B.005 (Definitions) , that include coverage for a family member of the insured shall also provide that the health insurance benefits applicable for children in the family shall be payable with respect to a disabled child of the insured who is 26 years of age or older, if:

(A) The insured provides a statement from a physician certifying that the child has an ongoing disability that prevents the child from engaging in self-sustaining employment;

(B) The child was covered by a parent’s insurance for at least two years immediately before the time the child exceeded the age for eligibility for coverage under the parent’s insurance; and

(C) Intentionally left blank —Ed.

(i) The insured claims the child as a dependent of the insured for tax purposes;

(ii) The child files a tax return properly showing adjusted gross income that does not exceed 150 percent of the federal poverty level; or

(iii) The insured is the legal guardian of the insured’s child.

(2) The coverage of natural and adopted children required by subsection (1) of this section shall consist of coverage of preventive health services and treatment of injury or sickness, including the necessary care and treatment of medically diagnosed congenital defects and birth abnormalities.

(3) If payment of an additional premium is required to provide coverage for a child, the policy may require that notification of the birth of the child or of the placement for adoption of the child and payment of the premium be furnished to the insurer within 31 days after the date of birth or date of placement in order to effectuate the coverage required by this section and to have the coverage extended beyond the 31-day period.

(4) In any case in which a policy provides coverage for dependent children of participants or beneficiaries, the policy shall provide benefits to dependent children placed with participants or beneficiaries for adoption under the same terms and conditions as apply to the natural, dependent children of the participants and beneficiaries, regardless of whether the adoption has become final.

(5) As used in this section:

(a) “Child” means an individual who is:

(A) Under 26 years of age; or

(B) Disabled and 26 years of age or older, for purposes of coverage under subsection (1)(b) of this section.

(b) “Disabled” means to have a developmental disability, mental illness or a physical disability that began prior to the age of 26 and that prevents an individual from engaging in self-sustaining employment.

(c) “Placement for adoption” means the assumption and retention by a person of a legal obligation for total or partial support of a child in anticipation of the adoption of the child. The child’s placement with a person terminates upon the termination of such legal obligations.

(d) “Self-sustaining employment” means employment with annual earnings that exceed 150 percent of the federal poverty level.

(6) The provisions of ORS 743A.001 (Automatic repeal of certain statutes on individual and group health insurance) do not apply to this section. [Formerly 743.707; 2011 c.500 §40; 2013 c.681 §33; 2021 c.342 §5]

Source: Section 743A.090 — Natural and adopted children , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743A.­html (accessed May 26, 2025).
ORS § 732.686 — OR Code / Title 56 / Chapter 732 / Section 732.686
732.686 Maintenance of confidentiality and privilege
Status: in_force

(1) Intentionally left blank —Ed.

(a) Documents, materials or other information, including a corporate governance annual disclosure, that the Director of the Department of Consumer and Business Services discloses to, or receives in a submission or disclosure from, another person or otherwise possesses, controls, obtains or creates in accordance with ORS 732.680 (Submission of corporate governance annual disclosure) or 732.683 (Discretion as to form and content of responses to inquiries in corporate governance annual disclosure) contains trade secrets, is proprietary, confidential and privileged and is not subject to:

(A) Disclosure under ORS 192.311 (Definitions for ORS 192.311 to 192.478) to 192.478 (Exemption for Judicial Department) ;

(B) Subpoena; or

(C) Discovery and is not admissible in evidence in a private civil action.

(b) The director may use documents, materials or other information described in paragraph (a) of this subsection in any regulatory or legal action to carry out the director’s official duties without the prior written consent of the insurer or insurance group that provided or served as a source or subject of the documents, materials or other information but the director may not otherwise make the documents, materials or other information available to the public without prior written consent from the insurer or insurance group.

(c) The director, any person that acted under the director’s authority in an examination or other regulatory action or any person that under ORS 732.680 (Submission of corporate governance annual disclosure) or 732.683 (Discretion as to form and content of responses to inquiries in corporate governance annual disclosure) received shared documents, materials or other information described in paragraph (a) of this subsection may not testify concerning the documents, materials or other information in any private civil action.

(2) Intentionally left blank —Ed.

(a) The director, in performing the director’s regulatory duties, may:

(A) Share documents, materials and other information described in subsection (1)(a) of this section, including information in or related to a corporate governance annual disclosure, with other state, federal or international regulatory agencies, including members of a supervisory college described in ORS 732.571 (Supervisory college for domestic insurer) , with the National Association of Insurance Commissioners and with consultants identified in ORS 732.689 (Retention of consultant to assist director’s review of corporate governance annual disclosure) if a regulatory agency, the association or a consultant requests the documents, materials or other information and:

(i) Agrees in writing to maintain any privilege that applies to, and to keep confidential, the documents, materials and other information; and

(ii) Verifies in writing that the regulatory agency, the association or the consultant has legal authority to keep the documents, materials and other information confidential.

(B) Receive documents, materials and other information described in subsection (1)(a) of this section from the National Association of Insurance Commissioners and other state, federal and international regulatory agencies, including members of a supervisory college described in ORS 732.571 (Supervisory college for domestic insurer) .

(b) The director shall maintain any privilege that applies to, and keep confidential, any documents, materials or other information the director receives from any of the persons described in paragraph (a)(B) of this subsection with notice or an understanding that the documents, materials or information are privileged or are confidential under the laws of the jurisdiction in which the person that is the source or subject of the documents, materials or other information is domiciled or exercises regulatory authority.

(3) The director’s or another person’s disclosure of documents, materials or other information described in this section does not waive any privilege or claim of confidentiality that otherwise applies to the documents, materials or other information. [2017 c.479 §7]

Note: See note under 732.650 (Definitions) .

Source: Section 732.686 — Maintenance of confidentiality and privilege; permitted disclosures; waivers , https://www.­oregonlegislature.­gov/bills_laws/ors/ors732.­html (accessed May 26, 2025).
ORS § 737.320 — OR Code / Title 56 / Chapter 737 / Section 737.320
737.320 Review of certain filings
Status: in_force

(1) The Director of the Department of Consumer and Business Services shall review title insurance filings, and each workers’ compensation insurance filing, as soon as reasonably possible after they have been made in order to determine whether they meet the requirements of this chapter.

(2) The effective date of each title and workers’ compensation insurance filing shall be the date specified therein but not earlier than the 30th day after the date the filing is received by the director or from the date of receipt of the information furnished in support of a filing or specific portions of such filing if such supporting information is required by the director. The waiting period may be extended by the director for not more than 30 days if the director gives written notice within such waiting period to the insurer or rating organization which made the filing that the director needs such additional time for the consideration of such filing or specific portions of such filing. Upon written application by such insurer or rating organization, the director may authorize a filing or specific portions of such filing, which the director has reviewed, to become effective before the expiration of the waiting period. A filing or portions of a filing shall be deemed to meet the requirements of this chapter unless disapproved by the director within the waiting period or any extension thereof.

(3) Filings of workers’ compensation rates, rating plans and rating systems by a workers’ compensation rating organization shall be limited to provisions for claim payment approved or established by the director, and shall not include allowances for or recognition of expenses, taxes or profit. A workers’ compensation rating organization shall make such filings with the director, which filings shall be subject to this section. The organization shall also file the workers’ compensation policy forms to be used by its members. The filing shall include a report of investment income.

(4) Filings of workers’ compensation rates by an insurer shall specify allowances for expenses, taxes and profits.

(5) The director shall investigate and evaluate all workers’ compensation filings to determine whether the filings meet the requirements of this chapter. The director shall employ such experts and other personnel as may be reasonably necessary to make such investigation and evaluation, the cost of which shall be paid out of the fund created under ORS 705.145 (Consumer and Business Services Fund) .

(6) Notwithstanding the provisions of ORS 737.205 (Filing rates, plans with director) (1), the director may require any person to comply with the requirements of subsection (2) of this section if the director has good cause to believe that a reasonable degree of competition does not exist in the area with respect to the classification to which such rate is applicable.

(7) The director may require insurers to use, as that portion of a rate filing that constitutes the amount for claim payment, rates prescribed by the director based upon rating information determined pursuant to ORS 731.216 (Administrative power of director) (3). [Amended by 1967 c.359 §310; 1969 c.690 §5; 1973 c.353 §1; 1981 c.535 §20; 1981 c.874 §20; 1985 c.706 §5; 1987 c.373 §83a; 1987 c.884 §51; 1989 c.171 §83; 1989 c.700 §12]

Source: Section 737.320 — Review of certain filings; effective date of filings; investigation and evaluation of workers’ compensation rate filings , https://www.­oregonlegislature.­gov/bills_laws/ors/ors737.­html (accessed May 26, 2025).
ORS § 743.377 — OR Code / Title 56 / Chapter 743 / Section 743.377
743.377 Credit life and credit health insurance policy or group certificate
Status: in_force

(1) All credit life or credit health insurance shall be evidenced by an individual policy or, in the case of group insurance, by a certificate of insurance, which individual policy or group certificate of insurance shall be delivered to the debtor.

(2) Each individual policy or group certificate of credit life or credit health insurance, or both shall, in addition to other requirements of law, set forth:

(a) The name and home-office address of the insurer;

(b) The name or names of the debtor, or in the case of a certificate under a group policy, the identity by name or otherwise of the debtor;

(c) The premium or amount of payment by the debtor separately for credit life insurance and for credit health insurance;

(d) A description of the coverage including the amount and term thereof, and any exceptions, limitations and restrictions; and

(e) A statement that the benefits shall be paid to the creditor to reduce or extinguish the unpaid indebtedness and, wherever the amount of insurance may exceed the unpaid indebtedness, that any such excess shall be payable to a beneficiary, other than the creditor, named by the debtor or to the estate of the debtor.

(3) Such individual policy or group certificate of insurance shall be delivered to the insured debtor at the time the indebtedness is incurred except as provided in subsection (4) of this section.

(4) If such individual policy or group certificate of insurance is not delivered to the debtor at the time the indebtedness is incurred, a copy of the application for insurance or a notice of proposed insurance, signed by the debtor and setting forth the name and home-office address of the insurer, the name or names of the debtor, the premium or amount of payment by the debtor separately for credit life insurance and for credit health insurance, and the amount, term and a brief description of the coverage provided, shall be delivered to the debtor at the time the indebtedness is incurred. The copy of the application for insurance or notice of proposed insurance shall also refer exclusively to insurance coverage, and shall be separate and apart from the loan, sale or other credit statement of account, instrument or agreement, unless the information required by this subsection is prominently set forth therein. Upon acceptance of the insurance by the insurer and within 30 days of the date upon which the indebtedness is incurred, the insurer shall cause the individual policy or group certificate of insurance to be delivered to the debtor. The application for insurance or notice of proposed insurance shall state that upon acceptance by the insurer, the insurance shall become effective as provided in ORS 743.376 (Duration of credit life and credit health insurance) .

(5) If an insurer other than the named insurer accepts the risk, then the debtor shall receive a policy or certificate of insurance setting forth the name and home-office address of the substituted insurer and the amount of the premium to be charged, and if the amount of premium is less than that set forth in the notice of proposed insurance an appropriate refund shall be made. [Formerly 739.590 and then 743.579]

Source: Section 743.377 — Credit life and credit health insurance policy or group certificate; contents; delivery of policy, certificate or copy of application , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 731.804 — OR Code / Title 56 / Chapter 731 / Section 731.804
731.804 Assessments
Status: in_force

(1) Except as otherwise provided in this section, each authorized insurer doing business in this state shall pay assessments that the Director of the Department of Consumer and Business Services determines are necessary to support the legislatively authorized budget of the Department of Consumer and Business Services with respect to functions of the department under the Insurance Code. The director shall determine the assessments according to one or more percentage rates established by the director by rule. The director shall specify in the rule when assessments shall be made and payments shall be due. The premium-weighted average of the percentage rates may not exceed nine-hundredths of one percent of the gross amount of premiums received by an insurer or the insurer’s insurance producers from and under the insurer’s policies covering direct domestic risks, after deducting the amount of return premiums paid and the amount of dividend payments made to policyholders with respect to such policies. In the case of reciprocal insurers, the amount of savings paid or credited to the accounts of subscribers shall be deducted from the gross amount of premiums. In establishing the percentage rate or rates, the director shall use the most recent premium data approved by the director. In establishing the amounts to be collected under this subsection, the director shall take into consideration the expenses of the department for administering the Insurance Code and the fees collected under subsection (2) of this section. When the director establishes two or more percentage rates:

(a) Each rate shall be based on such expenses of the department ascribed by the director to the line of insurance for which the rate is established.

(b) Each rate shall be applied to the gross amount of premium received by an insurer or its insurance producers for the applicable line of insurance as provided in this subsection.

(2) The director may collect fees for specific services provided by the department under the Insurance Code according to a schedule of fees established by the director by rule. The director may collect such fees in advance. In establishing the schedule for fees, the director shall take into consideration the cost of each service for which a fee is imposed.

(3) Intentionally left blank —Ed.

(a) Notwithstanding the provisions of ORS 743A.067 (Reproductive health services) (7)(e) and 743A.067 (Reproductive health services) (9), for the purpose of mitigating inequity in the health insurance market, the director may assess a fee on any insurer that offers a health benefit plan, as defined in ORS 743B.005 (Definitions) , that is exempt from a provision of ORS chapter 743A or other provision of the Insurance Code that requires specified coverage by health benefit plans.

(b) Any fees collected under paragraph (a) of this subsection must be the actuarial equivalent of costs attributed to the provision and administration of the required coverage by an insurer that is not exempt.

(c) Nothing in this section limits the authority of the director to enforce the provisions of ORS chapter 743A if an insurer unlawfully fails to comply.

(d) Notwithstanding ORS 646A.628 (Allocation of moneys) , fees paid in accordance with paragraph (a) of this subsection shall be deposited in the General Fund to become available for general governmental expenses.

(4) Establishment and amendment of the schedule of fees under subsection (2) of this section are subject to prior approval of the Oregon Department of Administrative Services and shall be within the budget authorized by the Legislative Assembly as that budget may be modified by the Emergency Board.

(5) The director may not collect an assessment under subsection (1) of this section from any of the following persons:

(a) A fraternal benefit society complying with ORS chapter 748.

(b) Any person or class of persons designated by the director by rule.

(6) The director may not collect an assessment under subsection (1) of this section with respect to premiums received from any of the following policies:

(a) Workers’ compensation insurance policies.

(b) Wet marine and transportation insurance policies.

(c) Any category of policies designated by the director by rule. [1967 c.359 §131; 1971 c.231 §14; 1971 c.425 §7; 1983 c.94 §1; 1985 c.697 §17; 1987 c.373 §81; 1989 c.331 §24; 1989 c.413 §1; 1991 c.371 §1; 1991 c.703 §40; 1991 c.958 §5; 1993 c.265 §5; 2003 c.364 §75; 2005 c.31 §7; 2007 c.560 §1; 2019 c.285 §4; 2023 c.602 §30]

Source: Section 731.804 — Assessments; rules; fees; how determined , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 744.804 — OR Code / Title 56 / Chapter 744 / Section 744.804
744.804 Conditions under which reinsurance intermediary broker and insurer may enter into transactions
Status: in_force

A reinsurance intermediary broker and the insurer it represents in the capacity of a reinsurance intermediary broker may enter one or more transactions between them only pursuant to a written authorization that specifies the responsibilities of each party. The authorization must at least provide that:

(1) The insurer may terminate the authority of the reinsurance intermediary broker at any time.

(2) The reinsurance intermediary broker must render to the insurer accounts accurately detailing all material transactions, including information necessary to support all commissions, charges and other fees received by or owing to the reinsurance intermediary broker, and remit all funds due to the insurer not later than the 30th day following the date of receipt.

(3) All funds collected for the account of the insurer must be held by the reinsurance intermediary broker in a fiduciary capacity in a qualified United States financial institution. For purposes of this subsection, a “qualified United States financial institution” is an institution that:

(a) Is organized, or, in the case of a United States office of a foreign banking organization, is licensed, under the laws of the United States or any state thereof;

(b) Is regulated, supervised and examined by authorities of the United States or of any state thereof having regulatory authority over banks and trust companies; and

(c) Has been determined by the Director of the Department of Consumer and Business Services to meet standards of financial condition and standing that are necessary and appropriate for regulating the quality of financial institutions whose letters of credit will be acceptable to the director. The director may consider standards and classifications of institutions established by the Securities Valuation Office of the National Association of Insurance Commissioners for the purpose of making determinations under this paragraph.

(4) The reinsurance intermediary broker must comply with ORS 744.806 (Records required to be kept by reinsurance intermediary brokers) .

(5) The reinsurance intermediary broker must comply with the written standards established by the insurer for the cession or retrocession of all risks.

(6) The reinsurance intermediary broker must disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded. [1993 c.447 §76; 2003 c.364 §29]

Source: Section 744.804 — Conditions under which reinsurance intermediary broker and insurer may enter into transactions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 733.306 — OR Code / Title 56 / Chapter 733 / Section 733.306
733.306 Computation of minimum standards for life insurance, industrial insurance, annuities and pure endowment contracts
Status: in_force

Except as otherwise provided in ORS 733.308 (Computation of minimum standard for annuities and pure endowment contracts) and 733.310 (Interest rates for determining minimum standard for valuation) , the minimum standard for the valuation of all outstanding life insurance policies and annuity and pure endowment contracts issued prior to the operative date stated in ORS 743.204 (Standard Nonforfeiture Law for Life Insurance) for the Standard Nonforfeiture Law for Life Insurance shall be that provided by the laws of this state in effect immediately prior to that operative date. Except as otherwise provided in ORS 733.308 (Computation of minimum standard for annuities and pure endowment contracts) and 733.310 (Interest rates for determining minimum standard for valuation) , the minimum standard for the valuation of all such policies and contracts issued on or after the operative date stated in ORS 743.204 (Standard Nonforfeiture Law for Life Insurance) for the Standard Nonforfeiture Law for Life Insurance shall be the commissioners reserve valuation methods defined in ORS 733.312 (Amount of required reserves for life insurance policies) , 733.314 (Amount of required reserves for certain annuity and pure endowment contracts) and 733.320 (Minimum required reserve for certain policies) , three and one-half percent interest, or in the case of life insurance policies and contracts, other than annuity and pure endowment contracts, issued on or after January 1, 1974, four percent interest for such policies issued prior to January 1, 1978, five and one-half percent interest for single premium life insurance policies and four and one-half percent interest for all other such policies issued on and after January 1, 1978, and the following tables:

(1) For all ordinary policies of life insurance issued on the standard basis, excluding any disability and accidental death benefits in such policies:

(a) The Commissioners 1941 Standard Ordinary Mortality Table for such policies issued prior to the operative date stated in ORS 743.216 (Adjusted premiums) (5) for the Standard Nonforfeiture Law for Life Insurance;

(b) The Commissioners 1958 Standard Ordinary Mortality Table for such policies issued on or after the operative date stated in ORS 743.216 (Adjusted premiums) (5) for the Standard Nonforfeiture Law for Life Insurance and prior to the operative date stated in ORS 743.215 (Calculation of adjusted premiums) for the Standard Nonforfeiture Law for Life Insurance, except that for any category of such policies issued on female risks, all modified net premiums and present values referred to in ORS 733.300 (Short title) to 733.340 (Exemptions) and sections 14 to 17, chapter 547, Oregon Laws 2015, may be calculated according to an age not more than six years younger than the actual age of the insured; and

(c) For such policies issued on or after the operative date stated in ORS 743.215 (Calculation of adjusted premiums) for the Standard Nonforfeiture Law for Life Insurance:

(A) The Commissioners 1980 Standard Ordinary Mortality Table;

(B) At the election of the insurer for any one or more specified plans of life insurance, the Commissioners 1980 Standard Ordinary Mortality Table with Ten-Year Select Mortality Factors; or

(C) Any ordinary mortality table, adopted after 1980 by the National Association of Insurance Commissioners, that is approved by rule adopted by the Director of the Department of Consumer and Business Services for use in determining the minimum standard of valuation for such policies.

(2) For all industrial life insurance policies issued on the standard basis, excluding any disability and accidental death benefits in such policies:

(a) The 1941 Standard Industrial Mortality Table for such policies issued prior to the operative date defined in ORS 743.216 (Adjusted premiums) (7) of the Standard Nonforfeiture Law for Life Insurance; and

(b) For such policies issued on or after such operative date, the Commissioners 1961 Standard Industrial Mortality Table or any industrial mortality table, adopted after 1980 by the National Association of Insurance Commissioners, that is approved by rule adopted by the director for use in determining the minimum standard of valuation for such policies.

(3) For individual annuity and pure endowment contracts, excluding any disability and accidental death benefits in such policies:

(a) The 1937 Standard Annuity Mortality Table;

(b) At the option of the insurer, the Annuity Mortality Table for 1949, Ultimate; or

(c) Any modification of either table referred to in paragraph (a) or (b) of this subsection that is approved by the director.

(4) For group annuity and pure endowment contracts, excluding any disability and accidental death benefits in such policies:

(a) The Group Annuity Mortality Table for 1951;

(b) Any modification of the table referred to in paragraph (a) of this subsection that is approved by the director; or

(c) At the option of the insurer, any of the tables or modifications of tables specified for individual annuity and pure endowment contracts.

(5) Intentionally left blank —Ed.

(a) For total and permanent disability benefits in or supplementary to ordinary policies or contracts:

(A) For policies or contracts issued on or after January 1, 1966, the tables of Period 2 disablement rates and the 1930 to 1950 termination rates of the 1952 Disability Study of the Society of Actuaries, with due regard to the type of benefit or any tables of disablement rates and termination rates adopted after 1980 by the National Association of Insurance Commissioners, that are approved by rule adopted by the director for use in determining the minimum standard of valuation for such policies;

(B) For policies or contracts issued on or after January 1, 1961 and prior to January 1, 1966, either the tables referred to in subparagraph (A) of this paragraph or, at the option of the insurer, the Class (3) Disability Table (1926); and

(C) For policies issued prior to January 1, 1961 the Class (3) Disability Table (1926).

(b) Any table referred to in paragraph (a) of this subsection shall, for active lives, be combined with a mortality table permitted for calculating the reserves for life insurance policies.

(6) For accidental death benefits in or supplementary to policies:

(a) For policies issued on or after January 1, 1966, the 1959 Accidental Death Benefits Table or any accidental death benefits table adopted after 1980 by the National Association of Insurance Commissioners, that is approved by rule adopted by the director for use in determining the minimum standard of valuation for such policies.

(b) For policies issued on or after January 1, 1961, and prior to January 1, 1966, either the table referred to in paragraph (a) of this subsection or, at the option of the insurer, the Inter-Company Double Indemnity Mortality Table.

(c) For policies issued prior to January 1, 1961, the Inter-Company Double Indemnity Mortality Table.

(7) The table used under subsection (6)(a), (b) or (c) of this section shall be combined with a mortality table for calculating the reserves for life insurance policies.

(8) For group life insurance, life insurance issued on the substandard basis and other special benefits, an insurer may use tables therefor that are approved by the director. [1991 c.401 §20]

Source: Section 733.306 — Computation of minimum standards for life insurance, industrial insurance, annuities and pure endowment contracts; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors733.­html (accessed May 26, 2025).
ORS § 731.632 — OR Code / Title 56 / Chapter 731 / Section 731.632
731.632 Deposit required of domestic reciprocal insurers
Status: in_force

Every domestic reciprocal insurer shall deposit with the Department of Consumer and Business Services $50,000, except such an insurer which exchanges policies of insurance covering only wet marine hull insurance for persons whose earned income, in whole or in part, is derived from taking and selling food resources living in an ocean, bay or river. [1967 c.359 §119; 1977 c.651 §3; 1993 c.709 §5; 1999 c.196 §5]

Source: Section 731.632 — Deposit required of domestic reciprocal insurers; exception , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 742.018 — OR Code / Title 56 / Chapter 742 / Section 742.018
742.018 Provision for construction according to foreign law prohibited
Status: in_force

No policy of insurance shall contain any condition, stipulation or agreement requiring such policy to be construed according to the laws of any other state or country. Any such condition, stipulation or agreement shall be invalid. [Formerly 736.315 and then 743.048]

Source: Section 742.018 — Provision for construction according to foreign law prohibited , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 731.036 — OR Code / Title 56 / Chapter 731 / Section 731.036
731.036 Persons completely exempt from application of Insurance Code
Status: in_force

Except as provided in ORS 743.029 (Uniform standards for health care financial and administrative transactions) or as specifically provided by law, the Insurance Code does not apply to any of the following to the extent of the subject matter of the exemption:

(1) A bail bondsman, other than a corporate surety and its agents.

(2) A fraternal benefit society that has maintained lodges in this state and other states for 50 years prior to January 1, 1961, and for which a certificate of authority was not required on that date.

(3) A religious organization providing insurance benefits only to its employees, if the organization is in existence and exempt from taxation under section 501(c)(3) of the federal Internal Revenue Code on September 13, 1975.

(4) Public bodies, as defined in ORS 30.260 (Definitions for ORS 30.260 to 30.300) , that either individually or jointly establish a self-insurance program for tort liability in accordance with ORS 30.282 (Local public body insurance) .

(5) Public bodies, as defined in ORS 30.260 (Definitions for ORS 30.260 to 30.300) , that either individually or jointly establish a self-insurance program for property damage in accordance with ORS 30.282 (Local public body insurance) .

(6) Cities, counties, school districts, community college districts, community college service districts or districts, as defined in ORS 198.010 (“District” defined for chapter) and 198.180 (“District” defined for ORS 198.190) , that either individually or jointly insure for health insurance coverage, excluding disability insurance, their employees or retired employees, or their dependents, or students engaged in school activities, or combination of employees and dependents, with or without employee or student contributions, if all of the following conditions are met:

(a) The individual or jointly self-insured program meets the following minimum requirements:

(A) In the case of a school district, community college district or community college service district, the number of covered employees and dependents and retired employees and dependents aggregates at least 500 individuals;

(B) In the case of an individual public body program other than a school district, community college district or community college service district, the number of covered employees and dependents and retired employees and dependents aggregates at least 500 individuals; and

(C) In the case of a joint program of two or more public bodies, the number of covered employees and dependents and retired employees and dependents aggregates at least 1,000 individuals;

(b) The individual or jointly self-insured health insurance program includes all coverages and benefits required of group health insurance policies under ORS chapters 743, 743A and 743B;

(c) The individual or jointly self-insured program must have program documents that define program benefits and administration;

(d) Enrollees must be provided copies of summary plan descriptions including:

(A) Written general information about services provided, access to services, charges and scheduling applicable to each enrollee’s coverage;

(B) The program’s grievance and appeal process; and

(C) Other group health plan enrollee rights, disclosure or written procedure requirements established under ORS chapters 743, 743A and 743B;

(e) The financial administration of an individual or jointly self-insured program must include the following requirements:

(A) Program contributions and reserves must be held in separate accounts and used for the exclusive benefit of the program;

(B) The program must maintain adequate reserves. Reserves may be invested in accordance with the provisions of ORS chapter 293. Reserve adequacy must be calculated annually with proper actuarial calculations including the following:

(i) Known claims, paid and outstanding;

(ii) A history of incurred but not reported claims;

(iii) Claims handling expenses;

(iv) Unearned contributions; and

(v) A claims trend factor; and

(C) The program must maintain adequate reinsurance against the risk of economic loss in accordance with the provisions of ORS 742.065 (Insurance against risk of loss assumed under less than fully insured employee health benefit plan) unless the program has received written approval for an alternative arrangement for protection against economic loss from the Director of the Department of Consumer and Business Services;

(f) The individual or jointly self-insured program must have sufficient personnel to service the employee benefit program or must contract with a third party administrator licensed under ORS chapter 744 as a third party administrator to provide such services;

(g) The public body, or the program administrator in the case of a joint insurance program of two or more public bodies, files with the Director of the Department of Consumer and Business Services copies of all documents creating and governing the program, all forms used to communicate the coverage to enrollees, the schedule of payments established to support the program and, annually, a financial report showing the total incurred cost of the program for the preceding year. A copy of the annual audit required by ORS 297.425 (Annual audits required) may be used to satisfy the financial report filing requirement; and

(h) Each public body in a joint insurance program is liable only to its own employees and no others for benefits under the program in the event, and to the extent, that no further funds, including funds from insurance policies obtained by the pool, are available in the joint insurance pool.

(7) All ambulance services.

(8) A person providing any of the services described in this subsection. The exemption under this subsection does not apply to an authorized insurer providing such services under an insurance policy. This subsection applies to the following services:

(a) Towing service.

(b) Emergency road service, which means adjustment, repair or replacement of the equipment, tires or mechanical parts of a motor vehicle in order to permit the motor vehicle to be operated under its own power.

(c) Transportation and arrangements for the transportation of human remains, including all necessary and appropriate preparations for and actual transportation provided to return a decedent’s remains from the decedent’s place of death to a location designated by a person with valid legal authority under ORS 97.130 (Right to control disposition of remains) .

(9) Intentionally left blank —Ed.

(a) A person described in this subsection who, in an agreement to lease or to finance the purchase of a motor vehicle, agrees to waive for no additional charge the amount specified in paragraph (b) of this subsection upon total loss of the motor vehicle because of physical damage, theft or other occurrence, as specified in the agreement. The exemption established in this subsection applies to the following persons:

(A) The seller of the motor vehicle, if the sale is made pursuant to a motor vehicle retail installment contract.

(B) The lessor of the motor vehicle.

(C) The lender who finances the purchase of the motor vehicle.

(D) The assignee of a person described in this paragraph.

(b) The amount waived pursuant to the agreement shall be the difference, or portion thereof, between the amount received by the seller, lessor, lender or assignee, as applicable, that represents the actual cash value of the motor vehicle at the date of loss, and the amount owed under the agreement.

(10) A self-insurance program for tort liability or property damage that is established by two or more affordable housing entities and that complies with the same requirements that public bodies must meet under ORS 30.282 (Local public body insurance) (6). As used in this subsection:

(a) “Affordable housing” means housing projects in which some of the dwelling units may be purchased or rented, with or without government assistance, on a basis that is affordable to individuals of low income.

(b) “Affordable housing entity” means any of the following:

(A) A housing authority created under the laws of this state or another jurisdiction and any agency or instrumentality of a housing authority, including but not limited to a legal entity created to conduct a self-insurance program for housing authorities that complies with ORS 30.282 (Local public body insurance) (6).

(B) A nonprofit corporation that is engaged in providing affordable housing.

(C) A partnership or limited liability company that is engaged in providing affordable housing and that is affiliated with a housing authority described in subparagraph (A) of this paragraph or a nonprofit corporation described in subparagraph (B) of this paragraph if the housing authority or nonprofit corporation:

(i) Has, or has the right to acquire, a financial or ownership interest in the partnership or limited liability company;

(ii) Has the power to direct the management or policies of the partnership or limited liability company;

(iii) Has entered into a contract to lease, manage or operate the affordable housing owned by the partnership or limited liability company; or

(iv) Has any other material relationship with the partnership or limited liability company.

(11) Except as provided in ORS 735.500 (Requirements for certification as retainer medical practice) and 735.510 (Notice to department of specified changes to practice) , a person certified by the Department of Consumer and Business Services to operate a retainer medical practice.

(12) A fund established by the Board of Governors of the Oregon State Bar under ORS 9.080 (Duties and authority of bar and of board of governors) .

(13) An association or group of eligible employers, as defined in ORS 735.520 (Oregon Essential Workforce Health Care Program) , that administers a self-insured program to provide health insurance coverage, excluding disability insurance, to their employees or retired employees or their dependents or a combination of employees and dependents, with or without employee contributions, if all of the following conditions are met:

(a) The number of covered employees and dependents and retired employees and dependents aggregates at least 500 individuals;

(b) The program includes all coverages and benefits required of group health insurance policies under ORS chapters 743, 743A and 743B;

(c) The program has program documents that define program benefits and administration;

(d) Enrollees of the program are provided copies of summary plan descriptions including:

(A) Written general information about services provided, access to services, charges and scheduling applicable to each enrollee’s coverage;

(B) The program’s grievance and appeal process; and

(C) Other group health plan enrollee rights, disclosure or written procedure requirements established under ORS chapters 743, 743A and 743B;

(e) Program contributions and reserves are held in separate accounts and used for the exclusive benefit of the program;

(f) The program maintains adequate reserves, which may be invested in accordance with the provisions of ORS chapter 293, calculated annually with proper actuarial calculations including the following:

(A) Known claims, paid and outstanding;

(B) A history of incurred but not reported claims;

(C) Claims handling expenses;

(D) Unearned contributions; and

(E) A claims trend factor;

(g) The program maintains adequate reinsurance against the risk of economic loss in accordance with the provisions of ORS 742.065 (Insurance against risk of loss assumed under less than fully insured employee health benefit plan) unless the program has received written approval for an alternative arrangement for protection against economic loss from the Director of the Department of Consumer and Business Services;

(h) The program has sufficient personnel to service the program or contracts with a third party administrator licensed under ORS chapter 744 as a third party administrator to provide such services; and

(i) The program files with the director copies of all documents creating and governing the program, all forms used to communicate the coverage to enrollees, the schedule of payments established to support the program and, annually, a financial report showing the total incurred cost of the program for the preceding year. [1967 c.359 §8; 1975 c.314 §1; 1977 c.428 §4; 1981 c.891 §1; 1985 c.811 §1; 1987 c.97 §1; 1987 c.288 §1; 1991 c.958 §2; 1993 c.265 §4; 1995 c.79 §357; 1995 c.582 §1; 1995 c.629 §1; 1997 c.795 §3; 1999 c.502 §4; 2003 c.342 §1; 2005 c.175 §1; 2007 c.174 §1; 2007 c.826 §1; 2009 c.244 §1; 2009 c.470 §5; 2009 c.867 §48; 2011 c.9 §90; 2011 c.130 §6; 2011 c.499 §4; 2013 c.698 §§12,37; 2015 c.318 §§41,42; 2017 c.101 §§51,52; 2017 c.384 §§8,9; 2021 c.497 §16; 2021 c.595 §2]

Source: Section 731.036 — Persons completely exempt from application of Insurance Code , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 746.230 — OR Code / Title 56 / Chapter 746 / Section 746.230
746.230 Unfair claim settlement practices
Status: in_force

(1) An insurer or other person may not commit or perform any of the following unfair claim settlement practices:

(a) Misrepresenting facts or policy provisions in settling claims;

(b) Failing to acknowledge and act promptly upon communications relating to claims;

(c) Failing to adopt and implement reasonable standards for the prompt investigation of claims;

(d) Refusing to pay claims without conducting a reasonable investigation based on all available information;

(e) Failing to affirm or deny coverage of claims within a reasonable time after completed proof of loss statements have been submitted;

(f) Not attempting, in good faith, to promptly and equitably settle claims in which liability has become reasonably clear;

(g) Compelling claimants to initiate litigation to recover amounts due by offering substantially less than amounts ultimately recovered in actions brought by such claimants;

(h) Attempting to settle claims for less than the amount to which a reasonable person would believe a reasonable person was entitled after referring to written or printed advertising material accompanying or made part of an application;

(i) Attempting to settle claims on the basis of an application altered without notice to or consent of the applicant;

(j) Failing, after payment of a claim, to inform insureds or beneficiaries, upon request by them, of the coverage under which payment has been made;

(k) Delaying investigation or payment of claims by requiring a claimant or the claimant’s physician, naturopathic physician, physician assistant or nurse practitioner to submit a preliminary claim report and then requiring subsequent submission of loss forms when both require essentially the same information;

(L) Failing to promptly settle claims under one coverage of a policy where liability has become reasonably clear in order to influence settlements under other coverages of the policy;

(m) Failing to promptly provide the proper explanation of the basis relied on in the insurance policy in relation to the facts or applicable law for the denial of a claim; or

(n) Any of the practices described in ORS 746.233 (Unfair claim settlement practices with respect to prior authorizations of health care items or services) .

(2) No insurer shall refuse, without just cause, to pay or settle claims arising under coverages provided by its policies with such frequency as to indicate a general business practice in this state, which general business practice is evidenced by:

(a) A substantial increase in the number of complaints against the insurer received by the Department of Consumer and Business Services;

(b) A substantial increase in the number of lawsuits filed against the insurer or its insureds by claimants; or

(c) Other relevant evidence. [1967 c.359 §588a; 1973 c.281 §1; 1989 c.594 §1; 2014 c.45 §79; 2015 c.59 §6; 2017 c.356 §101; 2019 c.284 §10]

Source: Section 746.230 — Unfair claim settlement practices , https://www.­oregonlegislature.­gov/bills_laws/ors/ors746.­html (accessed May 26, 2025).
ORS § 743.290 — OR Code / Title 56 / Chapter 743 / Section 743.290
743.290 Notice of nonpayment of certain benefits to be included in annuity policy
Status: in_force

An annuity policy that does not provide cash surrender benefits or does not provide death benefits at least equal to the minimum nonforfeiture amount prior to the start of annuity payments shall include a statement in a prominent place in the policy that the benefits are not provided. [1977 c.320 §7; 2003 c.370 §7]

Source: Section 743.290 — Notice of nonpayment of certain benefits to be included in annuity policy , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 734.640 — OR Code / Title 56 / Chapter 734 / Section 734.640
734.640 Claim priority
Status: in_force

(1) Any person who has a claim under an insurance policy against an insurer other than an insolvent insurer which would also be a covered claim against an insolvent insurer must first exhaust the remedies under such policy.

(2) Any person who has a claim that may also be recovered from one or more insurance guaranty agencies that perform functions similar to that of the Oregon Insurance Guaranty Association shall first seek recovery from whichever organization serves the place of residence of the insured, except that:

(a) Recovery on first party claims for damage to property with a permanent location shall first be sought from whichever organization serves the location of the property; and

(b) Recovery on workers’ compensation claims shall first be sought from whichever organization serves the residence of the claimant.

(3) Any recovery under ORS 734.510 (Definitions for ORS 734.510 to 734.710) to 734.710 (Administration of delinquency proceeding claims and expenses) from the association shall be reduced by the amount of any recovery pursuant to subsections (1) and (2) of this section. [1971 c.616 §16; 1977 c.793 §10]

Source: Section 734.640 — Claim priority , https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html (accessed May 26, 2025).
ORS § 743.526 — OR Code / Title 56 / Chapter 743 / Section 743.526
743.526 Determination of whether trustees are policyholders
Status: in_force

(1) An insurer may not offer a policy of group health insurance described in ORS 731.098 (“Group health insurance.”) (3) that insures persons in this state or offer coverage under such a policy, whether the policy is to be issued in this or another state, unless the Director of the Department of Consumer and Business Services determines that the requirements of this section and ORS 731.098 (“Group health insurance.”) (3) are satisfied.

(2) The director shall determine with respect to a policy whether the trustees are the policyholder. If the director determines that the trustees are the policyholder and if the policy is issued or proposed to be issued in this state, the policy is subject to the Insurance Code. If the director determines that the trustees are not the policyholder, the evidence of coverage that is issued or proposed to be issued in this state to a participating employer, labor union or association shall be deemed to be a group health insurance policy subject to the provisions of the Insurance Code. The director may determine that the trustees are not the policyholder if:

(a) The evidence of coverage issued or proposed to be issued to a participating employer, labor union or association is in fact the primary statement of coverage for the employer, labor union or association; and

(b) The trust arrangement is under the actual control of the insurer.

(3) An insurer shall submit evidence to the director showing that the requirements of subsection (2) of this section and ORS 731.098 (“Group health insurance.”) (3) are satisfied. The director shall review the evidence and may request additional evidence as needed.

(4) An insurer shall submit to the director any changes in the evidence submitted under subsection (3) of this section.

(5) The director may adopt rules to carry out this section. [1989 c.784 §12; 2005 c.22 §494; 2013 c.681 §56]

Source: Section 743.526 — Determination of whether trustees are policyholders; consequences; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 735.085 — OR Code / Title 56 / Chapter 735 / Section 735.085
735.085 Plan of operation
Status: in_force

(1) The Oregon FAIR Plan Association shall submit to the Director of the Department of Consumer and Business Services, not later than September 7, 1971, a plan of operation, and may thereafter submit such amendments thereto as will provide for the reasonable and equitable exercise of the duties and powers of the association. The plan of operation, and any amendments thereto, shall become effective upon approval in writing by the director.

(2) If the association fails to submit a plan that receives the approval of the director as provided in subsection (1) of this section, or if the association after such approval fails to maintain a plan satisfactory to the director, the director shall by rule prescribe a plan of operation that meets the standards provided in subsection (1) of this section. A plan prescribed by the director shall remain in effect until the director by rule provides otherwise.

(3) No member insurer shall fail to comply with the currently effective plan. [1971 c.321 §10]

Source: Section 735.085 — Plan of operation; submission to director; approval of plan; compliance with plan; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors735.­html (accessed May 26, 2025).
ORS § 744.369 — OR Code / Title 56 / Chapter 744 / Section 744.369
744.369 Unlawful life settlement contract actions
Status: in_force

(1) With respect to a life settlement contract or insurance policy, it is unlawful for a life settlement broker to knowingly solicit an offer from, effectuate a life settlement contract with or make a sale to a life settlement provider, financing entity or related provider trust that is controlling, controlled by or under common control with a life settlement broker, unless that relationship is disclosed to the owner.

(2) With respect to a life settlement contract or insurance policy, it is unlawful for a life settlement broker to knowingly enter into a life settlement contract with an owner if, in connection with the life settlement contract, anything of value will be paid to a life settlement broker that is controlling, controlled by or under common control with a life settlement provider, financing entity or related provider trust that is involved in the settlement contract, unless that relationship is disclosed to the owner.

(3) A person may not issue, solicit, market or otherwise promote the purchase of an insurance policy for the purpose of, or with an emphasis on, settling the policy.

(4) A person may not enter into a premium finance arrangement under which the person receives any proceeds, fees or other consideration, directly or indirectly, from the proceeds of the policy, from the owner of the policy or from any other person with respect to the premium finance agreement, the life settlement contract or any other transaction related to the policy that are in addition to the amounts required to pay the principal, interest and service charges related to the policy premiums under the premium finance agreement or subsequent sale of the agreement. Any payments, charges, fees or other amounts in addition to the amounts required to pay the principal, interest and service charges related to policy premiums paid under the premium finance agreement must be remitted to the original owner of the policy or the original owner’s estate if the original owner is not living at the time of the determination of overpayment.

(5) In the solicitation, application or issuance of a life insurance policy, a person may not employ any device, scheme or artifice in violation of ORS 743.040 (Personal insurance, insurable interest and beneficiaries) .

(6) A life settlement provider may not enter into a life settlement contract unless the life settlement promotional, advertising and marketing materials, as may be prescribed by regulation, have been filed with the Director of the Department of Consumer and Business Services.

(7) A life insurance producer, insurance company, life settlement broker, life settlement provider or life settlement investment agent may not make any statement or representation to the applicant or policyholder in connection with the sale or financing of a life insurance policy to the effect that the insurance is free or without cost to the policyholder for any period of time unless provided in the policy.

(8) A person may not present, cause to be presented or prepare with the knowledge or belief that it will be presented to or by a life settlement provider, life settlement broker, life settlement purchaser, life settlement investment agent, financing entity, insurer, insurance producer or any other person, false material information, or conceal material information, as part of, in support of or concerning a fact material to one or more of the following:

(a) An application for the issuance of a life settlement contract or insurance policy;

(b) The underwriting of a life settlement contract or insurance policy;

(c) A claim for payment or benefit pursuant to a life settlement contract or insurance policy;

(d) Premiums paid on an insurance policy, or as a result of a life settlement purchase agreement;

(e) Payments and changes in ownership or beneficiary made in accordance with the terms of a life settlement contract, life settlement purchase agreement or insurance policy;

(f) The reinstatement or conversion of an insurance policy;

(g) The solicitation, offer, effectuation or sale of a life settlement contract, insurance policy or life settlement purchase agreement;

(h) The issuance of written evidence of a life settlement contract, life settlement purchase agreement or insurance; or

(i) A financing transaction.

(9) A person may not employ any plan, financial structure, device, scheme or artifice to defraud related to settled policies.

(10) A person may not enter into any practice or plan that involves stranger-originated life insurance.

(11) A person may not fail to disclose to the insurer when requested by the insurer that the prospective insured has undergone a life expectancy evaluation by any person or entity other than the insurer or its authorized representatives in connection with the issuance of the policy.

(12) A person may not, and may not permit employees or agents to:

(a) Remove, conceal, alter, destroy or sequester from the director the assets or records of a licensee or other person engaged in the business of life settlements;

(b) Misrepresent or conceal the financial condition of a licensee, financing entity, insurer or other person;

(c) Transact the business of life settlements in violation of laws requiring a license, certificate of authority or other legal authority for the transaction of the business of life settlements; or

(d) File with the director or the equivalent chief insurance regulatory official of another jurisdiction a document containing false information or otherwise conceal information about a material fact from the director.

(13) A person may not embezzle, steal, misappropriate or convert moneys, funds, premiums, credits or other property of a life settlement provider, insurer, insured, owner, insurance policyowner or any other person engaged in the business of life settlements or insurance.

(14) A person may not recklessly enter into, negotiate, broker or otherwise deal in a life settlement contract, the subject of which is a life insurance policy that was obtained by presenting false information concerning any fact material to the policy or by concealing, for the purpose of misleading another, information concerning any fact material to the policy, for which the person or the persons intended to defraud the policy’s issuer, the life settlement provider or the owner. For the purposes of this subsection, “recklessly” means engaging in conduct in conscious and clearly unjustifiable disregard of a substantial likelihood of the existence of the relevant facts or risks, such disregard involving a gross deviation from acceptable standards of conduct.

(15) A person may not facilitate the change of state of ownership of a policy or certificate or the state of residency of an owner to a state or jurisdiction that does not have a law similar to ORS 744.318 (Definitions for ORS 744.318 to 744.384) to 744.384 (Rules) , 744.991 (Criminal penalties) and 744.992 (Civil penalties) for the express purposes of evading or avoiding the provisions of ORS 744.318 (Definitions for ORS 744.318 to 744.384) to 744.384 (Rules) , 744.991 (Criminal penalties) and 744.992 (Civil penalties) .

(16) A person may not attempt to commit, assist, aid or abet in the commission of, or conspire to commit the acts or omissions specified in, this subsection.

(17) A life settlement investment agent shall not have any contact, directly or indirectly, with the owner or insured under the policy or have knowledge of the identity of the owner or insured. [2009 c.711 §15]

Source: Section 744.369 — Unlawful life settlement contract actions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 744.111 — OR Code / Title 56 / Chapter 744 / Section 744.111
744.111 Rules
Status: in_force

The Director of the Department of Consumer and Business Services shall adopt rules to implement and administer the provisions of ORS 744.101 (Definitions) to 744.107 (Violations) . [2015 c.675 §5]

Note: 744.111 (Rules) was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 744 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 744.111 — Rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 733.578 — OR Code / Title 56 / Chapter 733 / Section 733.578
733.578 Conditions necessary for investments used to provide compensating balances
Status: in_force

Investments of an insurer of the kind described in ORS 733.650 (Investment of funds in certain obligations and other specified items) (4) that are made for the purpose of providing compensating balances for other persons will not be prohibited by ORS 733.575 (Prohibited use of funds as compensating balances) or 733.780 (Prohibited investments) while the following conditions are met:

(1) The investment is made in the name of and remains the sole property of the insurer;

(2) The investment is not subject to appropriation in any manner by any person, including the person for whom the compensating balance is being provided, the institution in which the deposit is made and other creditors of such persons;

(3) The insurer holds an irrevocable written waiver from the depositary institution, in a form satisfactory to the Director of the Department of Consumer and Business Services, waiving all right, title and interest in or to any setoff, banker’s or similar lien or other security interest in such investment or any funds represented thereby;

(4) The investment is unrestricted as to right of withdrawal except for such restrictions as may be usual and customary for such investments under ORS 733.650 (Investment of funds in certain obligations and other specified items) (4) when no compensating balance is involved; and

(5) The insurer is receiving a reasonable fee, taking into consideration its return on other funds, for providing the compensating balance involved. [1975 c.232 §3]

Source: Section 733.578 — Conditions necessary for investments used to provide compensating balances , https://www.­oregonlegislature.­gov/bills_laws/ors/ors733.­html (accessed May 26, 2025).
ORS § 750.311 — OR Code / Title 56 / Chapter 750 / Section 750.311
750.311 Multiple employer welfare arrangements established in another state
Status: in_force

An association or group of employers may provide health benefits in this state through a multiple employer welfare arrangement established in another state if the association or group of employers first obtains a certificate of multiple employer welfare arrangement in this state. Such a multiple employer welfare arrangement is a foreign multiple employer welfare arrangement. If the state in which the principal place of business of the multiple employer welfare arrangement is located issues certificates or licenses authorizing multiple employer welfare arrangements to transact insurance or provide health benefits, the foreign multiple employer welfare arrangement must show in its application that it is authorized to transact insurance or provide health benefits in that state. [1993 c.615 §7]

Note: See note under 750.301 (Definitions for ORS 750.301 to 750.341) .

Source: Section 750.311 — Multiple employer welfare arrangements established in another state , https://www.­oregonlegislature.­gov/bills_laws/ors/ors750.­html (accessed May 26, 2025).
ORS § 750.635 — OR Code / Title 56 / Chapter 750 / Section 750.635
750.635 Registered agent and registered office in state required
Status: in_force

(1) Each organization shall continuously maintain in this state a registered agent and registered office that may be, but need not be, the same as any of its places of business.

(2) A registered agent shall be:

(a) An individual who resides in this state and whose business office is identical to the registered office;

(b) A domestic corporation or domestic nonprofit corporation whose business office is identical to the registered office; or

(c) A foreign corporation or foreign nonprofit corporation authorized to transact business in this state whose business office is identical to the registered office.

(3) The Director of the Department of Consumer and Business Services shall be an agent of an organization upon whom process may be served whenever the organization fails to appoint or maintain a registered agent in this state or whenever the registered agent of the organization cannot with reasonable diligence be found at the registered office. [1989 c.331 §16; 2001 c.315 §57]

Source: Section 750.635 — Registered agent and registered office in state required , https://www.­oregonlegislature.­gov/bills_laws/ors/ors750.­html (accessed May 26, 2025).
ORS § 743a.052 — OR Code / Title 56 / Chapter 743a / Section 743a.052
743A.052 Services provided by professional counselor or marriage and family therapist
Status: in_force

(1) If a group health benefit plan, as described in ORS 743B.005 (Definitions) , provides for coverage for services performed by a clinical social worker or nurse practitioner, the plan also must cover services provided by a professional counselor or marriage and family therapist licensed under ORS 675.715 (Application) to 675.835 (Injunctive proceedings) when the counselor or therapist is acting within the counselor’s or therapist’s lawful scope of practice.

(2) Health maintenance organizations may limit the receipt of covered services performed by professional counselors and marriage and family therapists to services provided by or upon referral by providers contracting with the health maintenance organization. Health maintenance organizations and health care service contractors may create substantive plan benefit and reimbursement differentials at the same level as, and subject to limitations not more restrictive than, those imposed on coverage or reimbursement of expenses arising out of other medical conditions and apply them to contracting and noncontracting providers.

(3) The provisions of ORS 743A.001 (Automatic repeal of certain statutes on individual and group health insurance) do not apply to this section. [2009 c.549 §2]

Note: 743A.052 (Services provided by professional counselor or marriage and family therapist) was added to and made a part of the Insurance Code by legislative action but was not added to ORS chapter 743A or any series therein. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 743A.052 — Services provided by professional counselor or marriage and family therapist , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743A.­html (accessed May 26, 2025).
ORS § 746.025 — OR Code / Title 56 / Chapter 746 / Section 746.025
746.025 Securities or other contracts as inducement to insurance
Status: in_force

No person shall sell, agree or offer to sell, or give or offer to give, directly or indirectly in any manner whatsoever, shares of stock, securities, bonds, special or advisory board contracts or agreements of any form or nature promising returns and profits as an inducement to insurance. No insurer engaging in or permitting its representatives to engage in such practices in this or any other state may be authorized to do business in this state. [Formerly 739.535]

Source: Section 746.025 — Securities or other contracts as inducement to insurance , https://www.­oregonlegislature.­gov/bills_laws/ors/ors746.­html (accessed May 26, 2025).
ORS § 743b.252 — OR Code / Title 56 / Chapter 743b / Section 743b.252
743B.252 External review
Status: in_force

(1) An insurer offering health benefit plans in this state shall have an external review program that meets the requirements of this section and ORS 743B.255 (Enrollee application for external review) and rules adopted by the Director of the Department of Consumer and Business Services to carry out the provisions of this section and ORS 743B.250 (Required notices to applicants and enrollees) and 743B.255 (Enrollee application for external review) . Each insurer shall provide the external review through an independent review organization that is under contract with the director to provide external review. Each health benefit plan must allow an enrollee, by applying to the insurer or the director, to obtain review by an independent review organization of a dispute relating to an adverse benefit determination by the insurer on one or more of the following:

(a) Whether a course or plan of treatment is medically necessary.

(b) Whether a course or plan of treatment is experimental or investigational.

(c) Whether a course or plan of treatment that an enrollee is undergoing is an active course of treatment for purposes of continuity of care under ORS 743B.225 (Continuity of care) .

(d) Whether a course or plan of treatment is delivered in an appropriate health care setting and with the appropriate level of care.

(e) Whether an exception to the health benefit plan’s prescription drug formulary should be granted.

(2) An insurer shall incur all costs of its external review program. The insurer may not establish or charge a fee payable by enrollees for conducting external review.

(3) Intentionally left blank —Ed.

(a) When an enrollee applies for external review, the director shall appoint an independent review organization. When an independent review organization is appointed, the insurer shall forward all medical records and other relevant materials to the independent review organization no later than five business days after the appointment. The insurer shall produce additional information as requested by the independent review organization to the extent that the information is reasonably available to the insurer. An independent review organization may reverse the adverse benefit determination if the insurer fails to furnish records, information and materials to the independent review organization in a timely manner.

(b) Paragraph (a) of this subsection does not require an insurer to disclose protected health information to an independent review organization if the disclosure is prohibited by state or federal law.

(4) An enrollee may submit additional information to the independent review organization no later than five business days after the enrollee’s receipt of notification of the appointment of the independent review organization and the organization must consider the information in its review.

(5) The insurer and the director shall expedite the external review:

(a) If the adverse benefit determination concerns an admission, the availability of care, a continued stay or a health care service for a medical condition for which the enrollee received emergency services, as defined in ORS 743A.012 (Emergency services) , and has not been discharged from a health care facility; or

(b) If a provider with an established clinical relationship to the enrollee certifies in writing and provides supporting documentation that the ordinary time period for external review would seriously jeopardize the life or health of the enrollee or the enrollee’s ability to regain maximum function. [Formerly 743.857; 2017 c.152 §12; 2021 c.205 §8]

Source: Section 743B.252 — External review; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743B.­html (accessed May 26, 2025).
ORS § 743.380 — OR Code / Title 56 / Chapter 743 / Section 743.380
743.380 Claim report and payment
Status: in_force

(1) All claims under policies of credit life or credit health insurance, or both, shall be promptly reported to the insurer or its designated claim representative and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the policy.

(2) All claims shall be paid either by draft drawn upon the insurer or by check of the insurer to the order of the claimant to whom payment is due pursuant to the policy provisions or, upon direction of such claimant, to the one specified. [Formerly 739.610 and then 743.588]

Source: Section 743.380 — Claim report and payment , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 731.562 — OR Code / Title 56 / Chapter 731 / Section 731.562
731.562 Title insurer capital and surplus requirements
Status: in_force

To qualify for authority to transact title insurance in this state, an insurer shall possess and thereafter maintain capital or surplus, or any combination thereof, of not less than $2.5 million. [Formerly 748.010; 1987 c.483 §2; 2001 c.318 §2]

Source: Section 731.562 — Title insurer capital and surplus requirements , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 743.540 — OR Code / Title 56 / Chapter 743 / Section 743.540
743.540 Application and certificates not required for blanket health insurance policies
Status: in_force

An individual application need not be required from a person insured under a blanket health insurance policy, nor shall it be necessary for the insurer to furnish each person a certificate. [1967 c.359 §467]

Source: Section 743.540 — Application and certificates not required for blanket health insurance policies , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 744.816 — OR Code / Title 56 / Chapter 744 / Section 744.816
744.816 Director access to books, accounts and records
Status: in_force

(1) The Director of the Department of Consumer and Business Services may examine any reinsurance intermediary broker and any reinsurance intermediary manager. The director shall have access to all books, bank accounts and records of a reinsurance intermediary broker or reinsurance intermediary manager being examined. All such books, bank accounts and records must be maintained in a form usable to the director.

(2) A reinsurance intermediary manager may be examined as if the reinsurance intermediary manager were the reinsurer. [1993 c.447 §82; 2003 c.364 §35]

Source: Section 744.816 — Director access to books, accounts and records , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 743.023 — OR Code / Title 56 / Chapter 743 / Section 743.023
743.023 Electronic administration
Status: in_force

(1) As used in this section:

(a) “Explanation of benefits” means claim processing advice or notification of action on claims.

(b) “Payment, remittance and reconciliation information” means all information required for premium billing or invoicing, facilitating timely electronic payment of premiums due, delinquency notification, final billing notification or termination of coverage.

(c) “Plan renewal information” means all correspondence and materials related to an offer to renew insurance provided by an insurer to a health insurance purchaser.

(d) “Quote information” means all correspondence and materials related to an offer to insure or a rate quotation provided by an insurer to a health insurance purchaser.

(e) “Sale and enrollment information” means all information documenting the sale of a policy or certificate of health insurance, the renewal of a policy or certificate of health insurance, the enrollment of members in a group health insurance plan or the enrollment of an individual in an individual health insurance plan, including but not limited to:

(A) The application for insurance;

(B) Initial and ongoing documentation required by the insurer to be provided by an insured to establish eligibility and enrollment, adjudicate and process claims and prove prior creditable coverage or duplicate coverage;

(C) Premium information;

(D) Documentation of the payment of a premium; and

(E) Membership identification cards.

(2) Notwithstanding any other provision of law, in the administration of small employer group health insurance or individual health insurance, an insurer may elect to communicate one or more of the following by electronic means:

(a) Quote information.

(b) Sale and enrollment information.

(c) Payment, remittance and reconciliation information except notices required by ORS 743B.323 (Separate notice to policyholder required before cancellation of individual or group health insurance policy for nonpayment of premium) and 743B.330 (Notice to policyholder required for cancellation or nonrenewal of health benefit plan) .

(d) Explanation of benefits.

(e) Plan renewal information.

(f) Notifications required by law.

(g) Other communications, documentation, revisions or materials otherwise provided on paper.

(3) An insurer that elects to communicate by electronic means shall offer a small employer group member or individual applying for coverage and coverage renewal the option to receive by regular mail one or more of the types of communications described in subsection (2) of this section.

(4) Electronic administration of small employer group or individual health insurance plans shall be transacted using secure systems specifically designed by the insurer for the purpose of electronic health insurance administration.

(5) An insurer who elects to offer discounted rates for a health insurance plan utilizing electronic administration shall include the schedule of discounts for utilization of electronic administration as part of a small employer group health insurance or individual health insurance rate filing. The rate discounts may be graduated and must be proportionate to the amount of administrative cost savings the insurer anticipates as a result of the use of electronic transactions described in subsections (2) to (4) of this section.

(6) Discounted rates allowed under subsection (5) of this section shall be applied uniformly to all similarly situated small employer group or individual health insurance purchasers of an insurer.

(7) Discounts in premium rates under subsections (5) and (6) of this section are not premium rate variations for purposes of ORS 743.022 (Premium rates for individual health benefit plans) or 743B.013 (Requirements for small employer health benefit plans) (8).

(8) This section does not require an insurer to offer discounted rates for a health insurance plan utilizing electronic administration or require a small employer group or an individual health insurance purchaser to use electronic administration. [Formerly 743.777]

Note: 743.023 (Electronic administration) was added to and made a part of the Insurance Code by legislative action but was not added to ORS chapter 743 or any series therein. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 743.023 — Electronic administration; discounted rates; requirements , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 742.202 — OR Code / Title 56 / Chapter 742 / Section 742.202
742.202 Standard fire insurance policy
Status: in_force

Except as provided in ORS 742.204 (Exceptions to standard fire insurance policy requirements) , no fire insurer, its officers or agents, shall use any fire insurance policy or renew any fire insurance policy on property in this state unless it contains the provisions set forth in ORS 742.206 (Insuring agreement) to 742.242 (Subrogation) , which shall form a portion of the contract between the insurer and the insured. [Formerly 743.606]

Source: Section 742.202 — Standard fire insurance policy , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 734.555 — OR Code / Title 56 / Chapter 734 / Section 734.555
734.555 Application to association of certain laws governing corporations
Status: in_force

The provisions, procedures and requirements of ORS chapter 60 relating to a registered office, registered agent and to service of process, notice and demand shall govern the Oregon Insurance Guaranty Association, except that the Director of the Department of Consumer and Business Services shall be substituted for the Secretary of State as the person with whom all filings shall be made and upon whom, in the circumstances specified by statute, such service may be effected. [1977 c.600 §6; 1987 c.846 §12]

Source: Section 734.555 — Application to association of certain laws governing corporations; exception , https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html (accessed May 26, 2025).
ORS § 748.201 — OR Code / Title 56 / Chapter 748 / Section 748.201
748.201 Benefits
Status: in_force

(1) A society may provide in any form the following contractual benefits:

(a) Death benefits;

(b) Endowment benefits;

(c) Annuity benefits;

(d) Temporary or permanent disability benefits;

(e) Hospital, medical or nursing benefits;

(f) Monument or tombstone benefits to the memory of deceased members; and

(g) Such other benefits as authorized for life insurers and which are not inconsistent with this chapter, upon determination by the Director of the Department of Consumer and Business Services that the society is in compliance with all the requirements for a mutual life insurer to write such benefits.

(2) A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection (1) of this section, consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person. [1987 c.490 §17]

Source: Section 748.201 — Benefits , https://www.­oregonlegislature.­gov/bills_laws/ors/ors748.­html (accessed May 26, 2025).
ORS § 743.100 — OR Code / Title 56 / Chapter 743 / Section 743.100
743.100 Short title
Status: in_force

ORS 743.100 (Short title) to 743.109 (Approval of certain policy forms containing specified provisions) may be cited as the Life and Health Insurance Policy Language Simplification Act. [Formerly 743.350]

Source: Section 743.100 — Short title , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 743.444 — OR Code / Title 56 / Chapter 743 / Section 743.444
743.444 Change of beneficiary
Status: reserved

(1) A health insurance policy shall contain a provision as follows: “CHANGE OF BENEFICIARY: Unless the insured makes an irrevocable designation of beneficiary, the right to change of beneficiary is reserved to the insured and the consent of the beneficiary or beneficiaries shall not be requisite to surrender or assignment of this policy or to any change of beneficiary or beneficiaries or to any other changes in this policy.”

(2) The first clause of the provision set forth in subsection (1) of this section, relating to the irrevocable designation of beneficiary, may be omitted at the insurer’s option. [1967 c.359 §440]

Source: Section 743.444 — Change of beneficiary , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 743.411 — OR Code / Title 56 / Chapter 743 / Section 743.411
743.411 Entire contract
Status: in_force

A health insurance policy shall contain a provision as follows: “ENTIRE CONTRACT; CHANGES: This policy, including the indorsements and the attached papers, if any, constitutes the entire contract of insurance. No change in this policy shall be valid until approved by an executive officer of the insurer and unless such approval be indorsed hereon or attached hereto. No insurance producer has authority to change this policy or to waive any of its provisions.” [1967 c.359 §429; 2003 c.364 §107]

Source: Section 743.411 — Entire contract; changes , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 743.656 — OR Code / Title 56 / Chapter 743 / Section 743.656
743.656 Eligibility for benefits
Status: in_force

(1) No long term care insurance policy shall be delivered or issued for delivery in this state unless the policy determines eligibility for benefits through a determination that is not more restrictive than requiring that:

(a) The policyholder be functionally impaired and needing assistance in any three or more activities of daily living as defined by the Director of the Department of Consumer and Business Services, by rule, after consultation with the Director of Human Services.

(b) Benefits must be payable when the beneficiary is receiving covered services from any of the following providers approved by the insurer:

(A) Nursing home;

(B) Assisted living;

(C) Home care; and

(D) Adult foster care.

(c) The insurer shall approve nursing home, assisted living, home care, adult foster home and any other providers of covered services by using standards that have been submitted to and approved by the director in consultation with the Director of Human Services.

(2) No long term care policy that offers only nursing home benefits shall be sold in this state. [1989 c.1022 §§13,14; 2003 c.14 §449]

Source: Section 743.656 — Eligibility for benefits; providers required to be covered , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 731.488 — OR Code / Title 56 / Chapter 731 / Section 731.488
731.488 Annual audit of insurer
Status: in_force

(1) Each insurer shall have an annual audit conducted by an independent certified public accountant and shall file an audited financial report annually with the Director of the Department of Consumer and Business Services. The annual audited financial report shall disclose:

(a) The financial position of the insurer as of the end of the most recent calendar year; and

(b) The results of the insurer’s operations, cash flows and changes in capital and surplus for the year then ended.

(2) The director shall adopt rules with respect to the following matters as needed for carrying out the requirements of this section:

(a) Required contents and format of the audited financial report.

(b) Requirements for filing the report.

(c) Requirements applicable to qualifications and designation of certified public accountants for purposes of audits under this section. The requirements may include limitations on length of service for certified public accountants and may permit recognition of accountants comparably qualified under the laws of another country.

(d) Requirements applicable to evaluation of the accounting procedures of an insurer and its system of internal control by a certified public accountant.

(e) Standards governing the scope and preparation of the audit.

(f) Requirements and procedures relating to the reporting of the adverse financial condition of an insurer by a certified public accountant.

(g) Requirements and procedures relating to the reporting of significant deficiencies for internal controls of an insurer.

(h) Exemptions.

(i) Any other matter that the director determines to be needed for preparation of or inclusion in the financial report. [1991 c.401 §15]

Source: Section 731.488 — Annual audit of insurer; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 744.716 — OR Code / Title 56 / Chapter 744 / Section 744.716
744.716 Notification of change in ownership or control
Status: in_force

A third party administrator shall immediately notify the Director of the Department of Consumer and Business Services of any material change in ownership or control or in any other matter affecting the qualification of the third party administrator for a license as a third party administrator in this state. [1991 c.812 §10]

Source: Section 744.716 — Notification of change in ownership or control , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 744.806 — OR Code / Title 56 / Chapter 744 / Section 744.806
744.806 Records required to be kept by reinsurance intermediary brokers
Status: in_force

(1) A reinsurance intermediary broker must keep a complete record for each transaction of a contract of reinsurance as provided in this subsection. For each contract of reinsurance transacted by the reinsurance intermediary broker that is limited to first party property coverages, the reinsurance intermediary broker must keep the record for not less than five years after expiration of the contract of reinsurance. For all other contracts of reinsurance transacted by the reinsurance intermediary broker, the reinsurance intermediary broker must keep the record for not less than 10 years after expiration of each contract of reinsurance. The record must show all of the following:

(a) The type of contract, limits, underwriting restrictions, classes or risks and territory.

(b) The period of coverage, including effective and expiration dates, cancellation provisions and notice required of cancellation.

(c) Reporting and settlement requirements of balances.

(d) The rate used to compute the reinsurance premium.

(e) Names and addresses of assuming reinsurers.

(f) Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance intermediary broker.

(g) Related correspondence and memoranda.

(h) Proof of placement.

(i) Details regarding retrocessions handled by the reinsurance intermediary broker, including the identity of retrocessionaires and percentage of each contract assumed or ceded.

(j) Financial records, including premium and loss accounts.

(k) The following written evidence, when the reinsurance intermediary broker procures a reinsurance contract on behalf of an authorized ceding insurer:

(A) When the contract is procured directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk.

(B) When the contract is placed through a representative of the assuming reinsurer other than an employee, written evidence that the reinsurer has delegated binding authority to the representative.

(2) The insurer must have access to and the right to copy and audit all accounts and records maintained by the reinsurance intermediary broker and related to its business. The reinsurance intermediary broker must maintain the accounts and records in a form usable by the insurer. [1993 c.447 §77; 2003 c.364 §30]

Source: Section 744.806 — Records required to be kept by reinsurance intermediary brokers , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 742.374 — OR Code / Title 56 / Chapter 742 / Section 742.374
742.374 Surety may issue guaranteed arrest bond certificate not to exceed $1,000
Status: in_force

Upon compliance with ORS 742.376 (Requirements to issue guaranteed arrest bond certificate) , any authorized domestic or foreign surety insurer may become surety in an amount not to exceed $1,000 with respect to any unexpired guaranteed arrest bond certificate that is issued by an automobile club or association. [Formerly 747.084 and then 743.765]

Source: Section 742.374 — Surety may issue guaranteed arrest bond certificate not to exceed $1,000 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 743.278 — OR Code / Title 56 / Chapter 743 / Section 743.278
743.278 Required provisions in annuity policies
Status: repealed

(1) An annuity policy shall contain in substance the following provisions, or corresponding provisions that in the opinion of the Director of the Department of Consumer and Business Services are at least as favorable to the policyholder:

(a) That upon the termination of considerations under the policy, or upon the written request of the policyholder, the insurer shall grant a paid-up annuity benefit on a plan stipulated in the policy, of the value specified in ORS 743.284 (Computation of benefits) and 743.287 (Commencement of annuity payments at optional maturity dates) .

(b) That, if the policy provides for a lump sum settlement at maturity or any other time, the insurer shall pay upon surrender of the policy on or before the start of annuity payments, in lieu of a paid-up annuity benefit, a cash surrender benefit of the amount specified in ORS 743.284 (Computation of benefits) and 743.287 (Commencement of annuity payments at optional maturity dates) . The insurer may reserve the right to defer the payment of the cash surrender benefit for a period not to exceed six months after demand therefor with surrender of the policy, if the insurer makes a written request and receives written approval from the director. The request shall address the necessity and equitability to all policyholders of the deferral.

(c) A statement of the mortality table, if any, and interest rates used in calculating any minimum guaranteed paid-up annuity, cash surrender or death benefits that are guaranteed under the policy, together with sufficient information to determine the amount of the benefits.

(d) A statement that any paid-up annuity, cash surrender or death benefits available under the policy are not less than the minimum benefits required by any statute of the state in which the policy is delivered and an explanation of the manner in which the benefits are altered by the existence of any additional amounts credited by the insurer to the policy, any indebtedness to the insurer on the policy or any prior withdrawals from or partial surrenders of the policy.

(2) Notwithstanding subsection (1) of this section, a deferred annuity policy may provide that if no considerations have been received for two full years and the portion of the paid-up annuity benefit at maturity on the plan stipulated in the policy arising from prior considerations paid would be less than $20 monthly, the insurer at its option may terminate the policy by payment in cash of the then present value of the portion of the paid-up annuity benefit. The value shall be calculated on the basis of the mortality table, if any, and the interest rate specified in the policy for determining the paid-up annuity benefit. By this payment the insurer shall be relieved of further obligations under the policy. [1977 c.320 §3; 2003 c.370 §2]

743.281 [1977 c.320 §4; repealed by 2003 c.370 §9]

Source: Section 743.278 — Required provisions in annuity policies; exception , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 742.538 — OR Code / Title 56 / Chapter 742 / Section 742.538
742.538 Subrogation rights of insurers to certain amounts received by injured person
Status: in_force

If a motor vehicle liability insurer has furnished personal injury protection benefits, or a health insurer has furnished benefits, to a person who was injured in a motor vehicle accident and the interinsurer reimbursement benefit of ORS 742.534 (Reimbursement of other insurers paying benefits) is not available under the terms of that section, the insurer has not elected recovery by lien as provided in ORS 742.536 (Notice of claim or legal action to insurer) , and the insurer is entitled by the terms of the insurer’s policy to the benefit of this section:

(1) Subject to ORS 742.544 (Reimbursement for benefits paid) , the insurer is entitled to the proceeds of any settlement or judgment that results from the exercise of any rights of recovery the injured person has against any person legally responsible for the accident, to the extent of the benefits the insurer furnished less the insurer’s share of expenses, costs and attorney fees the injured person incurred in connection with the recovery.

(2) The injured person shall hold in trust for the benefit of the insurer the amount to which the insurer is entitled under this section, which may not exceed the amount of benefits the insurer furnished.

(3) The injured person shall do whatever is proper to secure, and may not prejudice, the rights an insurer has under this section.

(4) If requested in writing by the insurer, the injured person shall take, in the injured person’s name and through any representative the insurer designates who is not in conflict in interest with the injured person, such action as is necessary or appropriate to recover the amounts to which the insurer is entitled under this section, including amounts for the injured person’s share of expenses, costs and attorney fees that the insurer incurred in connection with the recovery.

(5) In calculating respective shares of expenses, costs and attorney fees under this section, the basis of allocation must be the respective proportions borne to the total recovery by:

(a) Benefits the insurer furnished; and

(b) The total recovery less the benefits the insurer furnished.

(6) The injured person shall execute and deliver to the insurer instruments and papers as are appropriate to secure the rights and obligations of the insurer and the injured person as established by this section.

(7) Any provisions in a motor vehicle liability insurance policy or health insurance policy giving rights to the insurer relating to subrogation or the subject matter of this section must be construed and applied in accordance with the provisions of this section. [Formerly 743.830; 2019 c.460 §2]

Source: Section 742.538 — Subrogation rights of insurers to certain amounts received by injured person; recovery actions against persons causing injury , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 732.526 — OR Code / Title 56 / Chapter 732 / Section 732.526
732.526 Hearing on proposed activity
Status: in_force

(1) If a person has duly filed a written request for a hearing or if, within 10 days after an acquiring party has filed a completed statement under ORS 732.523 (Procedure for acquiring controlling interest of capital stock) , the Director of the Department of Consumer and Business Services finds that holding a hearing is necessary or advisable, the director shall cause a hearing to be held.

(2) The hearing must be held at a time and place the director designates within 30 days after the written request for a hearing was filed or within 30 days after the date of the director’s order for a hearing to be held. In addition to any other notice required under ORS chapter 183, at least 20 days before the hearing the director shall notify the person that filed the written request and the acquiring party of the hearing. At least seven days before the hearing, one or more of the insurers or other parties to the proposed activity shall give notice as the director requires to parties the director designates. The acquiring party shall bear the expense of providing the notice and, as security for the payment of the expense, shall file with the director a bond or other deposit in a form and amount acceptable to the director.

(3) The hearing must be conducted in accordance with the provisions for a contested case proceeding under ORS chapter 183. [Formerly 732.535; 2013 c.370 §20]

Source: Section 732.526 — Hearing on proposed activity; notice , https://www.­oregonlegislature.­gov/bills_laws/ors/ors732.­html (accessed May 26, 2025).
ORS § 731.841 — OR Code / Title 56 / Chapter 731 / Section 731.841
731.841 Conditions under which local authority to tax insurer is preempted
Status: in_force

If, on account of the provisions of section 2, chapter 786, Oregon Laws 1995, and the amendments to ORS 731.840 (Retaliatory or corporate excise tax in lieu of certain taxes and assessments) by section 6, chapter 786, Oregon Laws 1995, the amendments to ORS 750.329 (Taxation) by section 11, chapter 786, Oregon Laws 1995, the amendments to ORS 317.010 (Definitions) by section 12, chapter 786, Oregon Laws 1995, and the amendments to ORS 317.080 (Exempt corporations) by section 13, chapter 786, Oregon Laws 1995, any insurer authorized to transact business in Oregon on January 1, 1997, is subject to the local taxes, licenses and fees described in ORS 731.840 (Retaliatory or corporate excise tax in lieu of certain taxes and assessments) (4)(a) as of January 1, 1997, and was not so subject before January 1, 1997, the authority of the local government to impose those taxes is preempted by the State of Oregon and no county, city, district or other political subdivision or agency in this state shall levy or impose upon such insurer, or upon its insurance producers or representatives, any excise, privilege, franchise, income, license, permit, registration or similar tax, license or fee. [1995 c.786 §20; 2003 c.364 §79]

Source: Section 731.841 — Conditions under which local authority to tax insurer is preempted , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 748.309 — OR Code / Title 56 / Chapter 748 / Section 748.309
748.309 Group membership
Status: in_force

(1) Group benefit certificates may provide for the payment of benefits in the event of the death, or death and disability, of:

(a) Persons engaged in a common enterprise or employment.

(b) The employees of any employer.

(2) Group certificates may be issued with or without medical examination and without limitation as to age.

(3) The society shall organize the persons or employees into a lodge or lodges with officers selected in the same manner as officers of other lodges and subject to the provisions of the laws of the society.

(4) Not less than 50 persons may be admitted to membership under one group without medical examination. [1987 c.490 §37]

Source: Section 748.309 — Group membership; lodges , https://www.­oregonlegislature.­gov/bills_laws/ors/ors748.­html (accessed May 26, 2025).
ORS § 742.038 — OR Code / Title 56 / Chapter 742 / Section 742.038
742.038 Validity and construction of noncomplying forms
Status: in_force

(1) A policy in violation of the Insurance Code, but otherwise binding on the insurer, shall be held valid, but shall be construed as provided in the Insurance Code.

(2) Any insurance policy issued and otherwise valid which contains any condition, omission or provision not in compliance with the Insurance Code, shall not be thereby rendered invalid but shall be construed and applied in accordance with such conditions and provisions as would have applied had such policy been in full compliance with the Insurance Code. [Formerly 743.069]

Source: Section 742.038 — Validity and construction of noncomplying forms , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 742.204 — OR Code / Title 56 / Chapter 742 / Section 742.204
742.204 Exceptions to standard fire insurance policy requirements
Status: in_force

Any insurance policy that includes, either on an unspecified basis as to coverage or for a single premium, coverage against the peril of fire and substantial coverage against other perils need not comply with the provisions of ORS 742.202 (Standard fire insurance policy) and 742.246 (Other fire insurance policy provisions permitted) , if such policy:

(1) Affords coverage with respect to the peril of fire, not less than the substantial equivalent of the coverage afforded by the provisions of the standard fire insurance policy as required by ORS 742.202 (Standard fire insurance policy) ;

(2) After a review under ORS 742.005 (Grounds for disapproval of policy forms) by the Director of the Department of Consumer and Business Services, is found by the director not to violate ORS 742.005 (Grounds for disapproval of policy forms) (2); and

(3) Is complete as to all its terms without reference to the standard fire insurance policy or any other policy. [Formerly 743.607; 2001 c.85 §1]

Source: Section 742.204 — Exceptions to standard fire insurance policy requirements , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 732.811 — OR Code / Title 56 / Chapter 732 / Section 732.811
732.811 Application of ORS 732.810 to 732.814
Status: in_force

(1) ORS 732.810 (Definitions for ORS 732.810 to 732.814) to 732.814 (Authority of director over controlling producer and controlled insurer) apply to an insurer who is authorized in this state to transact property insurance or casualty insurance, or both, and is:

(a) Domiciled in this state; or

(b) Domiciled in a state that is not accredited by the National Association of Insurance Commissioners and does not have in effect a law that the Director of the Department of Consumer and Business Services determines to be substantially similar to ORS 732.810 (Definitions for ORS 732.810 to 732.814) to 732.814 (Authority of director over controlling producer and controlled insurer) . For purposes of this paragraph, a state is accredited if its insurance department or regulatory agency is determined by the National Association of Insurance Commissioners to meet the minimum financial regulatory standards promulgated and established from time to time by the National Association of Insurance Commissioners.

(2) ORS 732.517 (Purpose of ORS 732.517 to 732.546) to 732.596 (Request by insurance holding company system for determination or acknowledgement of group-wide supervisor) apply to all parties within a holding company system that is subject to ORS 732.810 (Definitions for ORS 732.810 to 732.814) to 732.814 (Authority of director over controlling producer and controlled insurer) , to the extent that ORS 732.517 (Purpose of ORS 732.517 to 732.546) to 732.596 (Request by insurance holding company system for determination or acknowledgement of group-wide supervisor) are not inconsistent with ORS 732.810 (Definitions for ORS 732.810 to 732.814) to 732.814 (Authority of director over controlling producer and controlled insurer) .

(3) ORS 732.810 (Definitions for ORS 732.810 to 732.814) to 732.814 (Authority of director over controlling producer and controlled insurer) do not apply to any of the following persons:

(a) A risk retention group as defined in the Superfund Amendments Reauthorization Act of 1986, P.L. 99-499, 100 Stat. 1613 (1986), the Liability Risk Retention Act, 15 U.S.C. § 3901 et seq. or ORS 735.305 (Definitions for ORS 735.300 to 735.365) .

(b) A residual market pool or a joint underwriting authority or association.

(c) An insurer that is owned by another organization whose exclusive purpose is to insure risks of the parent organization and affiliated companies or, in the case of groups and associations, an insurer that is owned by the insureds and whose exclusive purpose is to insure risks to member organizations or group members and their affiliates, or any combination thereof. [1993 c.447 §59]

Note: See note under 732.810 (Definitions for ORS 732.810 to 732.814) .

Source: Section 732.811 — Application of ORS 732.810 to 732.814 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors732.­html (accessed May 26, 2025).
ORS § 733.652 — OR Code / Title 56 / Chapter 733 / Section 733.652
733.652 Investment of funds of separate accounts
Status: in_force

Except as may be prescribed by the Director of the Department of Consumer and Business Services under ORS 733.220 (Establishment and regulation of separate accounts to fund life insurance or annuities) (3) for reserves for guaranteed benefits and funds:

(1) Amounts allocated to a separate account and accumulations thereon may be invested and reinvested without regard to the requirements and limitations prescribed by ORS 733.510 (Investments of insurers) to 733.780 (Prohibited investments) , except as expressly provided for separate accounts under such sections; and

(2) The investments in separate accounts shall not be considered in applying the investment limitations applicable to the general investments of the insurer. [1973 c.435 §9]

Source: Section 733.652 — Investment of funds of separate accounts , https://www.­oregonlegislature.­gov/bills_laws/ors/ors733.­html (accessed May 26, 2025).
ORS § 732.602 — OR Code / Title 56 / Chapter 732 / Section 732.602
732.602 Intent of ORS 732.600 to 732.630
Status: in_force

ORS 732.600 (Definitions for ORS 732.600 to 732.630) to 732.630 (Dissenters’ rights) are intended to enable a domestic mutual insurer, to the extent consistent with the interests of its members and the insurance buying public, to:

(1) Adopt any other type of organizational structure, including a stock insurer, stock holding company or mutual holding company, that enhances its financial strength and flexibility; and

(2) Support long-term growth through creative internal strategies, mergers and acquisitions. [1997 c.771 §17]

Source: Section 732.602 — Intent of ORS 732.600 to 732.630 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors732.­html (accessed May 26, 2025).
ORS § 746.668 — OR Code / Title 56 / Chapter 746 / Section 746.668
746.668 Relationship of ORS 746.620, 746.630 and 746.665 to federal Fair Credit Reporting Act
Status: in_force

Nothing in ORS 746.620 (Notice of insurance information practices) , 746.630 (Authorization for disclosure of certain information) or 746.665 (Limitations and conditions on disclosure of certain information) may be construed to modify, limit or supersede the operation of the federal Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) and no inference may be drawn on the basis of ORS 746.620 (Notice of insurance information practices) , 746.630 (Authorization for disclosure of certain information) or 746.665 (Limitations and conditions on disclosure of certain information) regarding whether personal information is transaction information or experience information under section 603 of the federal Fair Credit Reporting Act (15 U.S.C. 1681 et seq.). [2001 c.377 §28c; 2003 c.87 §16]

Source: Section 746.668 — Relationship of ORS 746.620, 746.630 and 746.665 to federal Fair Credit Reporting Act , https://www.­oregonlegislature.­gov/bills_laws/ors/ors746.­html (accessed May 26, 2025).
ORS § 733.312 — OR Code / Title 56 / Chapter 733 / Section 733.312
733.312 Amount of required reserves for life insurance policies
Status: in_force

(1) Except as otherwise provided in ORS 733.314 (Amount of required reserves for certain annuity and pure endowment contracts) and 733.320 (Minimum required reserve for certain policies) , reserves according to the commissioners reserve valuation method for the life insurance and endowment benefits of policies providing for a uniform amount of insurance and requiring the payment of uniform premiums shall be the excess, if any, of the present value, at the date of valuation, of the future guaranteed benefits provided for by the policies, over the then present value of any future modified net premiums therefor. The modified net premiums for any such policy shall be the uniform percentage of the respective contract premiums for such benefits that the present value, at the date of issue of the policy, of all such modified net premiums shall be equal to the sum of the then present value of such benefits provided for by the policy and the excess of A over B, as follows:

(a) A net level annual premium equal to the present value, at the date of issue, of such benefits provided for after the first policy year, divided by the present value, at the date of issue, of an annuity of one per annum payable on the first and each subsequent anniversary of such policy on which a premium falls due, except that the net level annual premium shall not exceed the net level annual premium on the 19 year premium whole life plan for insurance of the same amount at an age one year higher than the age at issue of such policy.

(b) A net one year term premium for such benefits provided for in the first policy year.

(2) For any life insurance policy issued on or after January 1, 1986, for which the contract premium in the first policy year exceeds that of the second year and for which no comparable additional benefit is provided in the first year for the excess and which provides an endowment benefit or a cash surrender value or a combination thereof in an amount greater than the excess premium, the reserve according to the commissioners reserve valuation method as of any policy anniversary occurring on or before the assumed ending date, which is defined as the first policy anniversary on which the sum of any endowment benefit and any cash surrender value then available is greater than such excess premium, shall, except as otherwise provided in ORS 733.320 (Minimum required reserve for certain policies) , be the greater of the reserve as of the policy anniversary calculated as described in subsection (1) of this section and the reserve as of the policy anniversary calculated as described in subsection (1) of this section, but with (i) the value defined in subsection (1)(a) of this section being reduced by 15 percent of the amount of the excess first year premium, (ii) all present values of benefits and premiums being determined without reference to premiums or benefits provided for by the policy after the assumed ending date, (iii) the policy being assumed to mature on such date as an endowment, and (iv) the cash surrender value provided on such date being considered as an endowment benefit. The mortality and interest bases stated in ORS 733.306 (Computation of minimum standards for life insurance, industrial insurance, annuities and pure endowment contracts) and 733.310 (Interest rates for determining minimum standard for valuation) shall be used for the purpose of making the comparison.

(3) Reserves according to the commissioners reserve valuation method shall be calculated by a method consistent with subsections (1) and (2) of this section for:

(a) Life insurance policies providing for a varying amount of insurance or requiring the payment of varying premiums;

(b) Group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietorship, or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under Section 408 of the Internal Revenue Code, as now or hereafter amended;

(c) Disability and accidental death benefits in all policies and contracts; and

(d) All other benefits, except life insurance and endowment benefits in life insurance policies and benefits provided by all other annuity and pure endowment contracts. [1991 c.401 §23]

Source: Section 733.312 — Amount of required reserves for life insurance policies , https://www.­oregonlegislature.­gov/bills_laws/ors/ors733.­html (accessed May 26, 2025).
ORS § 743b.501 — OR Code / Title 56 / Chapter 743b / Section 743b.501
743B.501 Registration of contracting entity
Status: in_force

(1) A contracting entity that does not have a certificate of authority shall register with the Department of Consumer and Business Services as a contracting entity by submitting the following information to the department in written or electronic form as prescribed by the department along with any fee prescribed by the department:

(a) The official name of the entity and any secondary, alternative or substitute designations.

(b) The mailing address and telephone number of the headquarters of the entity.

(c) The name and telephone number of a representative of the entity who shall serve as the primary contact for the department.

(2) The requirements of this section do not apply to a contracting entity that is under common ownership and control of a contracting entity that is licensed by or has a certificate of authority from the department. [Formerly 743.083]

Note: 743B.501 (Registration of contracting entity) was added to and made a part of the Insurance Code by legislative action but was not added to ORS chapter 743B or any series therein. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 743B.501 — Registration of contracting entity , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743B.­html (accessed May 26, 2025).
ORS § 731.066 — OR Code / Title 56 / Chapter 731 / Section 731.066
731.066 “Authorized,” “unauthorized” insurer
Status: in_force

(1) An “authorized” insurer is one authorized by a subsisting certificate of authority to transact insurance in this state.

(2) An “unauthorized” insurer is one not so authorized. [1967 c.359 §14]

Source: Section 731.066 — “Authorized,” “unauthorized” insurer , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 742.526 — OR Code / Title 56 / Chapter 742 / Section 742.526
742.526 Primary nature of benefits
Status: in_force

(1) The personal injury protection benefits with respect to:

(a) The insured and members of the family of the insured residing in the same household injured while occupying the insured motor vehicle shall be primary.

(b) Passengers injured while occupying the insured motor vehicle shall be primary.

(c) The insured and members of family residing in the same household injured as pedestrians shall be primary.

(d) The insured and members of family residing in the same household injured while occupying a motor vehicle not insured under the policy shall be excess.

(e) Pedestrians injured by the insured motor vehicle, other than the insured and members of family residing in the same household, shall be excess over any other collateral benefits to which the injured person is entitled, including but not limited to insurance benefits, governmental benefits or gratuitous benefits.

(2) The personal injury protection benefits may be reduced or eliminated, if it is so provided in the policy, when the injured person is entitled to receive, under the laws of this state or any other state or the United States, workers’ compensation benefits or any other similar medical or disability benefits. [Formerly 743.810]

Source: Section 742.526 — Primary nature of benefits , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 750.575 — OR Code / Title 56 / Chapter 750 / Section 750.575
750.575 Grounds for suspension or revocation of certificate or refusal to issue or renew certificate
Status: in_force

(1) The Director of the Department of Consumer and Business Services may suspend, revoke, refuse to issue or refuse to renew a certificate of registration for any one or any combination of the following reasons:

(a) Fraud or deceit in obtaining or applying for the certificate.

(b) Dishonesty, fraud or gross negligence in the transaction of insurance.

(c) Conduct resulting in a conviction of a felony under the laws of any state or of the United States, to the extent that such conduct may be considered under ORS 670.280 (Denial, suspension or revocation of license based on criminal conviction) .

(d) Conviction of any crime, an essential element of which is dishonesty or fraud, under the laws of any state or of the United States.

(e) Refusal to renew or cancellation, revocation or suspension of authority to transact insurance or business as a legal expense organization or similar entity in another state.

(f) Failure to pay a civil penalty imposed by final order of the director.

(2) An organization holding a certificate that has not been renewed or has been revoked shall surrender the certificate to the director at the director’s request.

(3) The director may suspend or refuse to renew a certificate immediately and without hearing pursuant to ORS 183.430 (Hearing on refusal to renew license) if the facts giving rise to such action demonstrate the organization to be a serious danger to the public’s safety, or untrustworthy to maintain the certificate.

(4) Except as provided in subsection (3) of this section, the director may suspend, revoke, refuse to renew or refuse to issue a certificate of registration only after giving an opportunity for a hearing pursuant to ORS chapter 183. [1989 c.331 §9]

Source: Section 750.575 — Grounds for suspension or revocation of certificate or refusal to issue or renew certificate , https://www.­oregonlegislature.­gov/bills_laws/ors/ors750.­html (accessed May 26, 2025).
ORS § 752.035 — OR Code / Title 56 / Chapter 752 / Section 752.035
752.035 Professional liability funds
Status: in_force

A professional liability fund commission appointed pursuant to ORS 752.025 (Commission) shall establish a professional liability fund for qualified members of the appropriate profession. When a fund is established under this section:

(1) The commission shall require all qualified members of the profession to carry professional liability insurance offered by the fund with primary liability limits of at least $200,000.

(2) A professional liability fund established under this section shall pay, on behalf of qualified members of the profession, all sums as may be provided under the fund which any such member shall become legally obligated to pay as money damages because of any claim made against such member as a result of any act or omission of such member in rendering or failing to render professional services for others in the member’s professional capacity or caused by any other person for whose acts or omissions the member is legally responsible.

(3) The commission shall have the authority:

(a) To assess each person covered by the fund for contributions to the fund;

(b) To establish definitions of coverage to be provided by the fund;

(c) To employ legal counsel to represent the fund and to defend and control the defense of any person covered by the fund against whom a claim is made;

(d) To employ any persons necessary for the proper administration of the fund; and

(e) To contract with a local insurer to administer the fund. [1987 c.774 §93]

Source: Section 752.035 — Professional liability funds; establishment; minimum insurance coverage; authority of commission , https://www.­oregonlegislature.­gov/bills_laws/ors/ors752.­html (accessed May 26, 2025).
ORS § 744.093 — OR Code / Title 56 / Chapter 744 / Section 744.093
744.093 Solicitation or sale of insurance policy by retail insurance producer or wholesale insurance producer
Status: in_force

(1) As used in this section:

(a) “Retail insurance producer” means an insurance producer who directly solicits or sells an insurance policy to a prospective insured or directly negotiates an insurance policy with a prospective insured.

(b) “Wholesale insurance producer” means an insurance producer who solicits or sells an insurance policy to a prospective insured through a retail insurance producer or negotiates an insurance policy for a prospective insured with a retail insurance producer and does not solicit or sell directly to or negotiate directly with a prospective insured.

(2) A wholesale insurance producer who sells, solicits or negotiates a policy directly with a retail insurance producer and not on behalf of a prospective insured may charge the retail insurance producer a fee or a combination of a fee and a commission if the wholesale insurance producer has a written agreement with the retail insurance producer prior to the binding or issuance of the insurance policy. The charge must be commensurate with the services provided by the wholesale insurance producer.

(3) A retail insurance producer may charge a fee to a prospective insured when the retail insurance producer pays a fee or a combination of a fee and a commission to a wholesale insurance producer under subsection (2) of this section if the retail insurance producer has a written agreement with the prospective insured prior to the binding or issuance of the insurance policy. The fee may not exceed the amount of compensation paid by the retail insurance producer to the wholesale insurance producer.

(4) For the purpose of determining the charge under subsection (2) of this section, the retail insurance producer and wholesale insurance producer may agree to any allocation of the fee that the retail insurance producer charges the consumer under this section. The Director of the Department of Consumer and Business Services may establish by rule minimum conditions for written agreements entered into under this section. An insurer or insurance producer who enters into a written agreement as provided in this section is not in violation of ORS 746.035 (Inducements not specified in policy) or 746.045 (Prohibition on rebates) . [2003 c.364 §26b]

Source: Section 744.093 — Solicitation or sale of insurance policy by retail insurance producer or wholesale insurance producer; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 731.150 — OR Code / Title 56 / Chapter 731 / Section 731.150
731.150 Definitions of classes of insurance not mutually exclusive
Status: in_force

It is intended that certain insurance coverages may come within the definitions of two or more classes of insurance as defined in the Insurance Code, and the inclusion of such coverage within one definition shall not exclude it as to any other class of insurance within the definition of which such coverage is likewise reasonably includable. [1967 c.359 §32]

Source: Section 731.150 — Definitions of classes of insurance not mutually exclusive , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).