ORS § 732.820 — OR Code / Title 56 / Chapter 732 / Section 732.820
732.820 Interstate Insurance Product Regulation Compact
Status: repealed

The Interstate Insurance Product Regulation Compact is enacted into law and entered into on behalf of this state with all other jurisdictions legally joining therein in the form substantially as follows:

The purposes of this compact are, through means of joint and cooperative action among the compacting states:

(1) To promote and protect the interest of consumers of individual and group annuity, life insurance, disability income and long-term care insurance products;

(2) To develop uniform standards for insurance products covered under the compact;

(3) To establish a central clearinghouse to receive and provide prompt review of insurance products covered under the compact and, in certain cases, advertisements related to these products, submitted by insurers authorized to do business in one or more compacting states;

(4) To give appropriate regulatory approval to those product filings and advertisements satisfying the applicable uniform standard;

(5) To improve coordination of regulatory resources and expertise between state insurance departments regarding the setting of uniform standards and review of insurance products covered under the compact;

(6) To create the Interstate Insurance Product Regulation Commission; and

(7) To perform these and such other related functions as may be consistent with the state regulation of the business of insurance.

As used in this compact:

(1) “Advertisement” means any material designed to create public interest in a product, or induce the public to purchase, increase, modify, reinstate, borrow on, surrender, replace or retain a policy, as more specifically defined in the rules and operating procedures of the commission.

(2) “Bylaws” means those bylaws established by the commission for its governance, or for directing or controlling the commission’s actions or conduct.

(3) “Commission” means the Interstate Insurance Product Regulation Commission established by this compact.

(4) “Commissioner” means the chief insurance regulatory official of a state, including, but not limited to, a commissioner, superintendent, director or administrator.

(5) “Compacting state” means any state that has enacted this compact legislation and that has not withdrawn pursuant to subsection (1), Article XIV, of this compact, or been terminated pursuant to subsection (2), Article XIV, of this compact.

(6) “Insurer” means any entity licensed by a state to issue contracts of insurance for any of the lines of insurance covered by this compact.

(7) “Member” means the person chosen by a compacting state as its representative to the commission, or the person’s designee.

(8) “Noncompacting state” means any state that is not at the time a compacting state.

(9) “Operating procedures” means procedures adopted by the commission implementing a rule, uniform standard or a provision of this compact.

(10) “Product” means the form of a policy or contract, including any application, endorsement or related form that is attached to and made a part of the policy or contract, and any evidence of coverage or certificate, for an individual or group annuity, life insurance, disability income or long-term care insurance product that an insurer is authorized to issue.

(11) “Rule” means a statement of general or particular applicability and future effect adopted by the commission, including a uniform standard developed pursuant to Article VII of this compact, designed to implement, interpret or prescribe law or policy or describing the organization, procedure or practice requirements of the commission, which shall have the force and effect of law in the compacting states.

(12) “State” means any state, district or territory of the United States of America.

(13) “Third-party filer” means an entity that submits a product filing to the commission on behalf of an insurer.

(14) “Uniform standard” means a standard adopted by the commission for a product line, pursuant to Article VII of this compact, and shall include all of the product requirements in aggregate. However, each uniform standard shall be construed, whether express or implied, to prohibit the use of any inconsistent, misleading or ambiguous provisions in a product and the form of the product made available to the public shall not be unfair, inequitable or against public policy as determined by the commission.

(1) The compacting states hereby create and establish a joint public agency known as the Interstate Insurance Product Regulation Commission. Pursuant to Article IV of this compact, the commission shall have the power to develop uniform standards for product lines, receive and provide prompt review of products filed therewith and give approval to those product filings satisfying applicable uniform standards. However, it is not intended for the commission to be the exclusive entity for receipt and review of insurance product filings. This subsection does not prohibit any insurer from filing its product in any state wherein the insurer is licensed to conduct the business of insurance, and any such filing shall be subject to the laws of the state where filed.

(2) The commission is a body corporate and politic, and an instrumentality of the compacting states.

(3) The commission is solely responsible for its liabilities except as otherwise specifically provided in this compact.

(4) Venue is proper and judicial proceedings by or against the commission shall be brought solely and exclusively in a court of competent jurisdiction where the principal office of the commission is located.

The commission shall have all of the following powers:

(1) To adopt rules under Article VII of this compact, which shall have the force and effect of law and shall be binding in the compacting states to the extent and in the manner provided in this compact.

(2) To exercise its rulemaking authority and establish reasonable uniform standards for products covered under the compact, and advertisement related thereto, which shall have the force and effect of law and shall be binding in the compacting states, but only for those products filed with the commission. However, a compacting state shall have the right to opt out of such uniform standard pursuant to Article VII of this compact, to the extent and in the manner provided in this compact. Any uniform standard established by the commission for long-term care insurance products may provide the same or greater protections for consumers as, but shall not provide less than, those protections set forth in the National Association of Insurance Commissioners’ Long-Term Care Insurance Model Act and Long-Term Care Insurance Model Regulation, respectively, adopted as of 2001. The commission shall consider whether any subsequent amendments to the National Association of Insurance Commissioners’ Long-Term Care Insurance Model Act or Long-Term Care Insurance Model Regulation adopted by the National Association of Insurance Commissioners require amending of the uniform standards established by the commission for long-term care insurance products.

(3) To receive and review in an expeditious manner products filed with the commission, and rate filings for disability income and long-term care insurance products, and give approval of those products and rate filings that satisfy the applicable uniform standard, where such approval shall have the force and effect of law and be binding on the compacting states to the extent and in the manner provided in the compact.

(4) To receive and review in an expeditious manner advertisement relating to long-term care insurance products for which uniform standards have been adopted by the commission, and give approval to all advertisement that satisfies the applicable uniform standard. For any product covered under this compact, other than long-term care insurance products, the commission shall have the authority to require an insurer to submit all or any part of its advertisement with respect to that product for review or approval prior to use, if the commission determines that the nature of the product is such that an advertisement of the product could have the capacity or tendency to mislead the public. The actions of the commission as provided in this section shall have the force and effect of law and shall be binding in the compacting states to the extent and in the manner provided in the compact.

(5) To exercise its rulemaking authority and designate products and advertisement that may be subject to a self-certification process without the need for prior approval by the commission.

(6) To adopt operating procedures, pursuant to Article VII of this compact, that shall be binding in the compacting states to the extent and in the manner provided in this compact.

(7) To bring and prosecute legal proceedings or actions in its name as the commission. However, the standing of any state insurance department to sue or be sued under applicable law shall not be affected.

(8) To issue subpoenas requiring the attendance and testimony of witnesses and the production of evidence.

(9) To establish and maintain offices.

(10) To purchase and maintain insurance and bonds.

(11) To borrow, accept or contract for services of personnel, including, but not limited to, employees of a compacting state.

(12) To hire employees, professionals or specialists, and elect or appoint officers, and to fix their compensation, define their duties and give them appropriate authority to carry out the purposes of the compact, and determine their qualifications, and to establish the commission’s personnel policies and programs relating to, among other things, conflicts of interest, rates of compensation and qualifications of personnel.

(13) To accept any and all appropriate donations and grants of money, equipment, supplies, materials and services, and to receive, utilize and dispose of the same. However, at all times the commission shall strive to avoid any appearance of impropriety.

(14) To lease, purchase, accept appropriate gifts or donations of or otherwise own, hold, improve or use any property, real, personal or mixed. However, at all times the commission shall strive to avoid any appearance of impropriety.

(15) To sell, convey, mortgage, pledge, lease, exchange, abandon or otherwise dispose of any property, real, personal or mixed.

(16) To remit filing fees to compacting states as may be set forth in the bylaws, rules or operating procedures.

(17) To enforce compliance by compacting states with rules, uniform standards, operating procedures and bylaws.

(18) To provide for dispute resolution among compacting states.

(19) To advise compacting states on issues relating to insurers domiciled or doing business in noncompacting states, consistent with the purposes of this compact.

(20) To provide advice and training to those personnel in state insurance departments responsible for product review, and to be a resource for state insurance departments.

(21) To establish a budget and make expenditures.

(22) To borrow money.

(23) To appoint committees, including advisory committees comprising members, state insurance regulators, state legislators or their representatives, insurance industry and consumer representatives, and such other interested persons as may be designated in the bylaws.

(24) To provide and receive information from, and to cooperate with, law enforcement agencies.

(25) To adopt and use a corporate seal.

(26) To perform such other functions as may be necessary or appropriate to achieve the purposes of this compact consistent with the state regulation of the business of insurance.

(1) Intentionally left blank —Ed.

(a) Each compacting state shall have and be limited to one member. Each member shall be qualified to serve in that capacity pursuant to applicable law of the compacting state. Any member may be removed or suspended from office as provided by the law of the state from which the member shall be appointed. Any vacancy occurring in the commission shall be filled in accordance with the laws of the compacting state wherein the vacancy exists. Nothing herein shall be construed to affect the manner in which a compacting state determines the election or appointment and qualification of its own commissioner.

(b) Each member shall be entitled to one vote and shall have an opportunity to participate in the governance of the commission in accordance with the bylaws. Notwithstanding any provision in this compact to the contrary, no action of the commission with respect to the adoption of a uniform standard shall be effective unless two-thirds of the members vote in favor thereof.

(c) The commission shall, by a majority of the members, prescribe bylaws to govern its conduct as may be necessary or appropriate to carry out the purposes and exercise the powers of the compact, including but not limited to:

(A) Establishing the fiscal year of the commission.

(B) Providing reasonable procedures for appointing and electing members, as well as holding meetings, of the management committee.

(C) Providing reasonable standards and procedures for:

(i) The establishment and meetings of other committees; and

(ii) Governing any general or specific delegation of any authority or function of the commission.

(D) Providing reasonable procedures for calling and conducting meetings of the commission that consist of a majority of commission members, ensuring reasonable advance notice of each such meeting and providing for the right of residents to attend each such meeting with enumerated exceptions designed to protect the public’s interest, the privacy of individuals and insurers’ proprietary information, including trade secrets. The commission may meet in camera only after a majority of the entire membership votes to close a meeting. As soon as practicable, the commission must make public:

(i) A copy of the vote to close the meeting revealing the vote of each member with no proxy votes allowed; and

(ii) Votes taken during the meeting.

(E) Establishing the titles, duties and authority and reasonable procedures for the election of the officers of the commission.

(F) Providing reasonable standards and procedures for the establishment of the personnel policies and programs of the commission. Notwithstanding any civil service or other similar laws of any compacting state, the bylaws shall exclusively govern the personnel policies and programs of the commission.

(G) Promulgating a code of ethics to address permissible and prohibited activities of commission members and employees.

(H) Providing a mechanism for winding up the operations of the commission and the equitable disposition of any surplus funds that may exist after the termination of the compact after the payment or reserving of all of its debts and obligations.

(d) The commission shall publish its bylaws in a convenient form and file a copy thereof and a copy of any amendment thereto, with the appropriate agency or officer in each of the compacting states.

(2) Intentionally left blank —Ed.

(a) A management committee comprising no more than 14 members shall be established as follows:

(A) One member from each of the six compacting states with the largest premium volume for individual and group annuities, life, disability income and long-term care insurance products, determined from the records of the National Association of Insurance Commissioners for the prior year;

(B) Four members from those compacting states with at least two percent of the market based on the premium volume described above, other than the six compacting states with the largest premium volume, selected on a rotating basis as provided in the bylaws; and

(C) Four members from those compacting states with less than two percent of the market based on the premium volume described above, with one selected from each of the four zone regions of the National Association of Insurance Commissioners as provided in the bylaws.

(b) The management committee shall have authority and duties as may be set forth in the bylaws, including but not limited to:

(A) Managing the affairs of the commission in a manner consistent with the bylaws and purposes of the commission;

(B) Establishing and overseeing an organizational structure within, and appropriate procedures for, the commission to provide for the creation of uniform standards and other rules, receipt and review of product filings, administrative and technical support functions, review of decisions regarding the disapproval of a product filing, and the review of elections made by a compacting state to opt out of a uniform standard. However, a uniform standard shall not be submitted to the compacting states for adoption unless approved by two-thirds of the members of the management committee;

(C) Overseeing the offices of the commission; and

(D) Planning, implementing and coordinating communications and activities with other state, federal and local government organizations in order to advance the goals of the commission.

(c) The commission shall elect annually officers from the management committee, with each having such authority and duties as may be specified in the bylaws.

(d) The management committee may, subject to the approval of the commission, appoint or retain an executive director for any period, upon such terms and conditions and for such compensation as the commission may deem appropriate. The executive director shall serve as secretary to the commission, but shall not be a member of the commission. The executive director shall hire and supervise such other staff as may be authorized by the commission.

(3) Intentionally left blank —Ed.

(a) A legislative committee comprising state legislators or their designees shall be established to monitor the operations of, and make recommendations to, the commission, including the management committee. However, the manner of selection and term of any legislative committee member shall be as set forth in the bylaws. Prior to the adoption by the commission of any uniform standard, revision to the bylaws, annual budget or other significant matter as may be provided in the bylaws, the management committee shall consult with and report to the legislative committee.

(b) The commission shall establish two advisory committees, one of which shall comprise consumer representatives independent of the insurance industry, and the other comprising insurance industry representatives.

(c) The commission may establish additional advisory committees as its bylaws may provide for the carrying out of its functions.

(4) The commission shall maintain its corporate books and records in accordance with the bylaws.

(5) Intentionally left blank —Ed.

(a) The members, officers, executive director, employees and representatives of the commission shall be immune from suit and liability, either personally or in their official capacity, for any claim for damage to or loss of property or personal injury or other civil liability caused by or arising out of any actual or alleged act, error or omission that occurred, or that the person against whom the claim is made had a reasonable basis for believing occurred within the scope of commission employment, duties or responsibilities. However, this paragraph does not protect any such person from suit or liability for any damage, loss, injury or liability caused by the intentional or willful and wanton misconduct of that person.

(b) The commission shall defend any member, officer, executive director, employee or representative of the commission in any civil action seeking to impose liability arising out of any actual or alleged act, error or omission that occurred within the scope of commission employment, duties or responsibilities, or that the person against whom the claim is made had a reasonable basis for believing occurred within the scope of commission employment, duties or responsibilities. However, this paragraph does not prohibit that person from retaining the person’s own counsel. Also, the actual or alleged act, error or omission must not have resulted from that person’s intentional or willful and wanton misconduct.

(c) The commission shall indemnify and hold harmless any member, officer, executive director, employee or representative of the commission for the amount of any settlement or judgment obtained against that person arising out of any actual or alleged act, error or omission that occurred within the scope of commission employment, duties or responsibilities, or that such person had a reasonable basis for believing occurred within the scope of commission employment, duties or responsibilities. However, the actual or alleged act, error or omission must not have resulted from the intentional or willful and wanton misconduct of that person.

(1) The commission shall meet and take such actions as are consistent with the provisions of this compact and the bylaws.

(2) Each member of the commission shall have the right and power to cast a vote to which that compacting state is entitled and to participate in the business and affairs of the commission. A member shall vote in person or by such other means as provided in the bylaws. The bylaws may provide for members’ participation in meetings by telephone or other means of communication.

(3) The commission shall meet at least once during each calendar year. Additional meetings shall be held as set forth in the bylaws.

RULES AND OPERATING PROCEDURES:

(1) The commission shall adopt reasonable rules, including uniform standards, and operating procedures in order to effectively and efficiently achieve the purposes of this compact. In the event the commission exercises its rulemaking authority in a manner that is beyond the scope of the purposes of this compact, then such an action by the commission shall be invalid and have no force and effect.

(2) Rules and operating procedures shall be made pursuant to a rulemaking process that conforms to the Model State Administrative Procedure Act of 1981 as amended, as may be appropriate to the operations of the commission. Before the commission adopts a uniform standard, the commission shall give written notice to the relevant state legislative committee in each compacting state responsible for insurance issues of its intention to adopt the uniform standard. The commission in adopting a uniform standard shall consider fully all submitted materials and issue a concise explanation of its decision.

(3) A uniform standard shall become effective 90 days after its adoption by the commission or on such later date as the commission may determine. However, a compacting state may opt out of a uniform standard as provided in this Article. All other rules and operating procedures, and amendments thereto, shall become effective as of the date specified in each rule, operating procedure or amendment.

(4) Intentionally left blank —Ed.

(a) A compacting state may opt out of a uniform standard either by legislation or regulation adopted by the insurance department under the compacting state’s Administrative Procedure Act. If a compacting state elects to opt out of a uniform standard by regulation, the compacting state must:

(A) Give written notice to the commission no later than 10 business days after the uniform standard is adopted, or at the time the state becomes a compacting state; and

(B) Find that the uniform standard does not provide reasonable protections to the residents of the state, given the conditions in the state.

(b) The commissioner shall make specific findings of fact and conclusions of law, based on a preponderance of the evidence, detailing the conditions in the state that warrant a departure from the uniform standard and determining that the uniform standard would not reasonably protect the residents of the state. The commissioner must consider and balance the following factors and find that the conditions in the state and needs of the residents of the state outweigh:

(A) The intent of the legislature to participate in, and the benefits of, an interstate agreement to establish national uniform consumer protections for the products subject to this compact; and

(B) The presumption that a uniform standard adopted by the commission provides reasonable protections to consumers of the relevant product.

(c) A compacting state may, at the time of its enactment of this compact, prospectively opt out of all uniform standards involving long-term care insurance products by expressly providing for such opt out in the enacted compact, and such an opt out shall not be treated as a material variance in the offer or acceptance of any state to participate in this compact. Such opt out shall be effective at the time of enactment of this compact by the compacting state and shall apply to all existing uniform standards involving long-term care insurance products and those subsequently adopted.

(5) If a compacting state elects to opt out of a uniform standard, the uniform standard shall remain applicable in the compacting state electing to opt out until such time the opt out legislation is enacted into law or the regulation opting out becomes effective. Once the opt out of a uniform standard by a compacting state becomes effective as provided under the laws of that state, the uniform standard shall have no further force and effect in that state unless and until the legislation or regulation implementing the opt out is repealed or otherwise becomes ineffective under the laws of the state. If a compacting state opts out of a uniform standard after the uniform standard has been made effective in that state, the opt out shall have the same prospective effect as provided under Article XIV of this compact for withdrawals.

(6) If a compacting state has formally initiated the process of opting out of a uniform standard by regulation, and while the regulatory opt out is pending, the compacting state may petition the commission, at least 15 days before the effective date of the uniform standard, to stay the effectiveness of the uniform standard in that state. The commission may grant a stay if it determines the regulatory opt out is being pursued in a reasonable manner and there is a likelihood of success. If a stay is granted or extended by the commission, the stay or extension thereof may postpone the effective date by up to 90 days, unless affirmatively extended by the commission. However, a stay may not be permitted to remain in effect for more than one year unless the compacting state can show extraordinary circumstances that warrant a continuance of the stay, including, but not limited to, the existence of a legal challenge that prevents the compacting state from opting out. A stay may be terminated by the commission upon notice that the rulemaking process has been terminated.

(7) Not later than 30 days after a rule or operating procedure is adopted, any person may file a petition for judicial review of the rule or operating procedure. However, the filing of such a petition shall not stay or otherwise prevent the rule or operating procedure from becoming effective unless the court finds that the petitioner has a substantial likelihood of success. The court shall give deference to the actions of the commission consistent with applicable law and shall not find the rule or operating procedure to be unlawful if the rule or operating procedure represents a reasonable exercise of the commission’s authority.

(8) As used in this article, “opt out” means any action by a compacting state to decline to adopt or participate in an adopted uniform standard.

(1) The commission shall adopt rules establishing conditions and procedures for public inspection and copying of its information and official records, except such information and records involving the privacy of individuals and insurers’ trade secrets. The commission may adopt additional rules under which it may make available to federal and state agencies, including law enforcement agencies, records and information otherwise exempt from disclosure, and may enter into agreements with such agencies to receive or exchange information or records subject to nondisclosure and confidentiality provisions.

(2) Except as to privileged records, data and information, the laws of any compacting state pertaining to confidentiality or nondisclosure shall not relieve any compacting state of the duty to disclose any relevant records, data or information to the commission. However, disclosure to the commission shall not be deemed to waive or otherwise affect any confidentiality requirement. Except as otherwise expressly provided in this compact, the commission shall not be subject to the compacting state’s laws pertaining to confidentiality and nondisclosure with respect to records, data and information in its possession. Confidential information of the commission shall remain confidential after such information is provided to any commissioner.

(3) The commission shall monitor compacting states for compliance with duly adopted bylaws, rules, including uniform standards, and operating procedures. The commission shall notify any noncomplying compacting state in writing of its noncompliance with commission bylaws, rules or operating procedures. If a noncomplying compacting state fails to remedy its noncompliance within the time specified in the notice of noncompliance, the compacting state shall be deemed to be in default as set forth in Article XIV of this compact.

(4) Any commissioner of a compacting state in which an insurer is authorized to do business, or is conducting the business of insurance, shall continue to exercise the state’s authority to oversee the market regulation of the activities of the insurer in accordance with the provisions of the state’s law. The commissioner’s enforcement of compliance with the compact is governed by the following provisions:

(a) With respect to the commissioner’s market regulation of a product or advertisement that is approved or certified to the commission, the content of the product or advertisement shall not constitute a violation of the provisions, standards or requirements of the compact except upon a final order of the commission, issued at the request of a commissioner after prior notice to the insurer and an opportunity for hearing before the commission.

(b) Before a commissioner may bring an action for violation of any provision, standard or requirement of the compact relating to the content of an advertisement not approved or certified to the commission, the commission, or an authorized commission officer or employee, must authorize the action. However, authorization under this paragraph does not require notice to the insurer, opportunity for hearing or disclosure of requests for authorization or records of the commission’s action on such requests.

The commission shall attempt, upon the request of a member, to resolve any disputes or other issues that are subject to this compact and that may arise among two or more compacting states, or between compacting states and noncompacting states. The commission shall adopt an operating procedure providing for resolution of such disputes.

(1) Insurers and third-party filers seeking to have a product approved by the commission shall file the product with, and pay applicable filing fees to, the commission. Nothing in this compact shall be construed to restrict or otherwise prevent an insurer from filing its product with the insurance department in any state wherein the insurer is licensed to conduct the business of insurance, and such filing shall be subject to the laws of the states where filed.

(2) The commission shall establish appropriate filing and review processes and procedures pursuant to commission rules and operating procedures. The commission shall adopt rules to establish conditions and procedures under which the commission will provide public access to product filing information. In establishing such rules, the commission shall consider the interests of the public in having access to such information, as well as protection of personal medical and financial information and trade secrets, that may be contained in a product filing or supporting information.

(3) Any product approved by the commission may be sold or otherwise issued in those compacting states for which the insurer is legally authorized to do business.

(1) Not later than 30 days after the commission has given notice of a disapproved product or advertisement filed with the commission, the insurer or third-party filer whose filing was disapproved may appeal the determination to a review panel appointed by the commission. The commission shall adopt rules to establish procedures for appointing such review panels and provide for notice and hearing. An allegation that the commission, in disapproving a product or advertisement filed with the commission, acted arbitrarily, capriciously or in a manner that is an abuse of discretion or otherwise not in accordance with the law is subject to judicial review in accordance with subsection (4) of Article III of this compact.

(2) The commission shall have authority to monitor, review and reconsider products and advertisement subsequent to their filing or approval upon a finding that the product does not meet the relevant uniform standard. Where appropriate, the commission may withdraw or modify its approval after proper notice and hearing, subject to the appeal process in subsection (1) of this Article.

(1) The commission shall pay or provide for the payment of the reasonable expenses of its establishment and organization. To fund the cost of its initial operations, the commission may accept contributions and other forms of funding from the National Association of Insurance Commissioners, compacting states and other sources. Contributions and other forms of funding from other sources shall be of such a nature that the independence of the commission concerning the performance of its duties is not compromised.

(2) The commission shall collect a filing fee from each insurer and third-party filer filing a product with the commission to cover the cost of the operations and activities of the commission and its staff in a total amount sufficient to cover the commission’s annual budget.

(3) The commission’s budget for a fiscal year may not be approved until it has been subject to notice and comment as set forth in Article VII of this compact.

(4) The commission shall be exempt from all taxation in and by the compacting states.

(5) The commission may not pledge the credit of any compacting state, except by and with the appropriate legal authority of that compacting state.

(6) The commission shall keep complete and accurate accounts of all its internal receipts, including grants and donations, and disbursements of all funds under its control. The internal financial accounts of the commission shall be subject to the accounting procedures established under its bylaws. The financial accounts and reports including the system of internal controls and procedures of the commission shall be audited annually by an independent certified public accountant. Upon the determination of the commission, but no less frequently than every three years, the review of the independent auditor shall include a management and performance audit of the commission. The commission shall make an annual report to the governor and legislature of the compacting states, which shall include a report of the independent audit. The commission’s internal accounts shall not be confidential and such materials may be shared with the commissioner of any compacting state upon request. However, any work papers related to any internal or independent audit and any information regarding the privacy of individuals and insurers’ proprietary information, including trade secrets, shall remain confidential.

(7) A compacting state does not have any claim to or ownership of any property held by or vested in the commission or to any commission funds held under the provisions of this compact.

COMPACTING STATES, EFFECTIVE DATE AND AMENDMENT

(1) Any state is eligible to become a compacting state.

(2) The compact shall become effective and binding upon legislative enactment of the compact into law by two compacting states. However, the commission shall become effective for purposes of adopting uniform standards for, reviewing and giving approval or disapproval of products filed with the commission that satisfy applicable uniform standards only after 26 states are compacting states or, alternatively, states representing greater than 40 percent of the premium volume for life insurance, annuity, disability income and long-term care insurance products, based on records of the National Association of Insurance Commissioners for the prior year, are compacting states. Thereafter, the compact becomes effective and binding as to any other compacting state upon enactment of the compact into law by that state.

(3) Amendments to the compact may be proposed by the commission for enactment by the compacting states. An amendment does not become effective and binding upon the commission and the compacting states unless and until all compacting states enact the amendment into law.

WITHDRAWAL, DEFAULT

(1) Intentionally left blank —Ed.

(a) Once effective, the compact shall continue in force and remain binding upon each and every compacting state. However, a compacting state may withdraw from the compact by enacting a statute specifically repealing the statute that enacted the compact into law.

(b) The effective date of withdrawal is the effective date of the repealing statute. However, the withdrawal shall not apply to any product filings approved or self-certified, or any advertisement of such products, on the date the repealing statute becomes effective, except by mutual agreement of the commission and the withdrawing state unless the approval is rescinded by the withdrawing state as provided in paragraph (e) of this subsection.

(c) The commissioner of a withdrawing state shall immediately notify the management committee in writing upon the introduction of legislation repealing this compact in the withdrawing state.

(d) The commission shall notify the other compacting states of the introduction of such legislation within 10 days after its receipt of notice thereof.

(e) The withdrawing state is responsible for all obligations, duties and liabilities incurred through the effective date of withdrawal, including any obligations, the performance of which extend beyond the effective date of withdrawal, except to the extent those obligations may have been released or relinquished by mutual agreement of the commission and the withdrawing state. The commission’s approval of products and advertisement prior to the effective date of withdrawal shall continue to be effective and be given full force and effect in the withdrawing state, unless formally rescinded by the withdrawing state in the same manner as provided by the laws of the withdrawing state for the prospective disapproval of products or advertisement previously approved under state law.

(f) Reinstatement following withdrawal of any compacting state shall occur upon the effective date of the withdrawing state reenacting the compact.

(2) Intentionally left blank —Ed.

(a) If the commission determines that any compacting state has at any time defaulted in the performance of any of its obligations or responsibilities under this compact, the bylaws or adopted rules or operating procedures, then the commission may suspend, after notice and hearing as set forth in the bylaws, all rights, privileges and benefits conferred by this compact on the defaulting state from the effective date of default as fixed by the commission. The grounds for default include, but are not limited to, failure of a compacting state to perform its obligations or responsibilities, and any other grounds designated in commission rules. The commission shall immediately notify the defaulting state in writing of the defaulting state’s suspension pending a cure of the default. The commission shall stipulate the conditions and the time period within which the defaulting state must cure its default. If the defaulting state fails to cure the default within the time period specified by the commission, the defaulting state shall be terminated from the compact and all rights, privileges and benefits conferred by this compact shall be terminated from the effective date of termination.

(b) Product approvals by the commission or product self-certifications, or any advertisement in connection with such product, that are in force on the effective date of termination shall remain in force in the defaulting state in the same manner as if the defaulting state had withdrawn voluntarily pursuant to subsection (1) of this Article.

(c) Reinstatement following termination of any compacting state requires a reenactment of the compact.

(3) Intentionally left blank —Ed.

(a) Dissolution of the compact is effective upon the date of the withdrawal or default of the compacting state that reduces membership in the compact to one compacting state.

(b) Upon the dissolution of this compact, the compact becomes null and void and shall be of no further force or effect, and the business and affairs of the commission shall be wound up and any surplus funds shall be distributed in accordance with the bylaws.

(1) The provisions of this compact shall be severable, and if any phrase, clause, sentence or provision is deemed unenforceable, the remaining provisions of the compact shall be enforceable.

(2) The provisions of this compact shall be liberally construed.

(1) Intentionally left blank —Ed.

(a) This compact does not prevent the enforcement of any other law of a compacting state, except as provided in paragraph (b) of this subsection.

(b) For any product approved or certified to the commission, the rules, uniform standards and any other requirements of the commission shall constitute the exclusive provisions applicable to the content, approval and certification of such products. For advertisement that is subject to the commission’s authority, any rule, uniform standard or other requirement of the commission that governs the content of the advertisement shall constitute the exclusive provision that a commissioner may apply to the content of the advertisement. However, no action taken by the commission shall abrogate or restrict:

(A) The access of any person to state courts;

(B) Remedies available under state law related to breach of contract, tort or other laws not specifically directed to the content of the product;

(C) State law relating to the construction of insurance contracts; or

(D) The authority of the attorney general of the state, including but not limited to maintaining any actions or proceedings, as authorized by law.

(c) All insurance products filed with individual states shall be subject to the laws of those states.

(2) Intentionally left blank —Ed.

(a) All lawful actions of the commission, including all rules and operating procedures adopted by the commission, are binding upon the compacting states.

(b) All agreements between the commission and the compacting states are binding in accordance with their terms.

(c) Upon the request of a party to a conflict over the meaning or interpretation of commission actions, and upon a majority vote of the compacting states, the commission may issue advisory opinions regarding the meaning or interpretation in dispute.

(d) In the event any provision of this compact exceeds the constitutional limits imposed on the legislature of any compacting state, the obligations, duties, powers or jurisdiction sought to be conferred by that provision upon the commission shall be ineffective as to that compacting state, and those obligations, duties, powers or jurisdiction shall remain in the compacting state and shall be exercised by the agency thereof to which those obligations, duties, powers or jurisdiction are delegated by law in effect at the time this compact becomes effective.

[2011 c.520 §2]

Note: 732.820 (Interstate Insurance Product Regulation Compact) and 732.825 (State member of Interstate Insurance Product Regulation Commission) were added to and made a part of the Insurance Code by legislative action but were not added to ORS chapter 732 or any series therein. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 732.820 — Interstate Insurance Product Regulation Compact , https://www.­oregonlegislature.­gov/bills_laws/ors/ors732.­html (accessed May 26, 2025).
ORS § 744.074 — OR Code / Title 56 / Chapter 744 / Section 744.074
744.074 Authority of director to place licensee on probation or to suspend, revoke or refuse to issue or renew license
Status: in_force

(1) The Director of the Department of Consumer and Business Services may place a licensee on probation or suspend, revoke or refuse to issue or renew an insurance producer license and may take other actions authorized by the Insurance Code in lieu thereof or in addition thereto, for any one or more of the following causes:

(a) Providing incorrect, misleading, incomplete or materially untrue information in the license application.

(b) Violating any insurance laws, or violating any rule, subpoena or order of the director or of the insurance commissioner of another state or Mexico or Canada.

(c) Obtaining or attempting to obtain a license through misrepresentation or fraud.

(d) Improperly withholding, misappropriating or converting any moneys or properties received in the course of doing insurance business.

(e) Intentionally misrepresenting the terms of an actual or proposed insurance contract or application for insurance.

(f) Having been convicted of a felony, of a misdemeanor involving dishonesty or breach of trust, or of an offense punishable by death or imprisonment under the laws of the United States. The record of the conviction shall be conclusive evidence of the conviction.

(g) Having admitted or been found to have committed any unfair trade practice or fraud related to insurance.

(h) Using fraudulent, coercive or dishonest practices, or demonstrating incompetence, untrustworthiness or financial irresponsibility in the conduct of business in this state or elsewhere.

(i) Cancellation, revocation, suspension or refusal to renew by any state of a license or other evidence of authority to act as an adjuster or an insurance producer or consultant. The record of the cancellation, revocation, suspension or refusal to renew shall be conclusive evidence of the action taken.

(j) Cancellation, revocation, suspension or refusal to renew by any state or federal agency, by a Canadian province or by the government of Mexico of the authority to practice law or to practice under any other regulatory authority if the cancellation, revocation, suspension or refusal to renew was related to the business of an adjuster or an insurance producer or consultant, or if dishonesty, fraud or deception was involved. The record of the cancellation, revocation, suspension or refusal to renew shall be conclusive evidence of the action taken.

(k) Forging another person’s name to an application for insurance or to any document related to an insurance transaction.

(L) Improperly using notes or any other reference material to complete an examination for an insurance license.

(m) Knowingly accepting insurance business from an individual who is not licensed.

(n) Error by the director in issuing or renewing a license.

(o) Failing to pay a civil penalty assessed by the director that has become final by operation of law or upon appeal.

(p) Failing to pay any fee or charge to the director.

(q) Failing to comply with continuing education requirements applicable to the license or any class of insurance authorized under the license, unless the director has waived the requirements.

(2) If the director refuses to issue or renew an insurance producer license, the director shall notify the applicant or licensee and inform the applicant or licensee in writing of the reason for the refusal to issue or renew and of the applicant’s or licensee’s rights under ORS chapter 183.

(3) The director may suspend, revoke or refuse to issue or renew the insurance producer license of a business entity if the director determines that an individual licensee’s violation was known or should have been known by one or more of the partners, officers or managers acting on behalf of the partnership or corporation but the violation was not reported to the director and corrective action was not taken. [2001 c.191 §14; 2003 c.364 §15]

Source: Section 744.074 — Authority of director to place licensee on probation or to suspend, revoke or refuse to issue or renew license , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 732.626 — OR Code / Title 56 / Chapter 732 / Section 732.626
732.626 Plan review and approval
Status: in_force

(1) The Director of the Department of Consumer and Business Services shall review a plan of conversion, reorganization or restructuring that is submitted to the director. Upon review, the director shall approve or conditionally approve the plan if the director finds all of the following:

(a) The applicable provisions of ORS 732.600 (Definitions for ORS 732.600 to 732.630) to 732.630 (Dissenters’ rights) , and other applicable provisions of law, have been fully met.

(b) The plan protects the rights of policyholders.

(c) The plan will be fair and equitable to the members, and the plan will not prejudice the interests of the members.

(d) The allocation of consideration among the eligible members is fair and equitable.

(e) The converted stock insurer will have capital or surplus, or any combination thereof, that is required of a domestic stock insurer on initial authorization to transact like kinds of insurance, and otherwise will be able to satisfy the requirements of this state for transacting its insurance business.

(f) The plan will not substantially reduce the security of the policyholders and the service to be rendered to the policyholders.

(g) If a stock holding company or mutual holding company is organized, the financial condition of the stock holding company, the mutual holding company or any subsidiary thereof will not jeopardize the financial stability of the converted stock insurer.

(h) The financial condition of the converting mutual insurer will not be jeopardized by the conversion or reorganization, and the conversion or reorganization will not jeopardize the financial stability of the stock holding company, the mutual holding company or any subsidiary thereof.

(i) The competence, experience and integrity of those persons who will control the operation of the converted stock insurer are not contrary to the interests of policyholders of the converted stock insurer and of the public in allowing the plan to proceed.

(j) Implementation of the plan will protect the interests of the insurance-buying public.

(k) The activity is not subject to other material and reasonable objections.

(L) All modifications required by the director have been made.

(2) An approval or conditional approval of a plan by the director expires if the plan is not carried out within one year after the date of the approval or conditional approval, unless the time period is extended by the director for good cause, upon written application for such extension.

(3) In connection with an approval or disapproval of a plan, when the plan must include a valuation, the director shall separately review and approve or disapprove the valuation stated in the plan, and shall make a specific finding thereon in the approval or disapproval.

(4) The director may retain, at the expense of the converting mutual insurer or restructuring mutual holding company, qualified experts not otherwise a part of the staff of the Department of Consumer and Business Services to assist in reviewing the plan and supplemental documents and valuations, and in making the finding in subsection (3) of this section.

(5) The director may hold a hearing for the purposes of receiving comment on whether a plan should be approved and on any other matter relating to the conversion, reorganization or restructuring. The hearing shall be held within 60 days after the director has received a completed filing of the plan and all information required by the director. [1997 c.771 §13]

Source: Section 732.626 — Plan review and approval; general provisions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors732.­html (accessed May 26, 2025).
ORS § 742.524 — OR Code / Title 56 / Chapter 742 / Section 742.524
742.524 Contents of personal injury protection benefits
Status: in_force

(1) Personal injury protection benefits required by ORS 742.520 (Personal injury protection benefits for motor vehicle liability policies) consist of the following payments for the injury or death of each person:

(a) All reasonable and necessary expenses of medical, hospital, dental, surgical, ambulance and prosthetic services incurred within two years after the date of the person’s injury, but not more than $15,000 in the aggregate for all such expenses of the person. Expenses of medical, hospital, dental, surgical, ambulance and prosthetic services are presumed to be reasonable and necessary unless the provider receives notice of denial of the charges not more than 60 calendar days after the insurer receives from the provider notice of the claim for the services. At any time during the first 50 calendar days after the insurer receives notice of claim, the provider shall, within 10 business days, answer in writing questions from the insurer regarding the claim. For purposes of determining when the 60-day period provided by this paragraph has elapsed, counting of days shall be suspended if the provider does not supply written answers to the insurer within 10 days and may not resume until the answers are supplied.

(b) If the injured person is usually engaged in a remunerative occupation and if disability continues for at least 14 days, 70 percent of the loss of income from work during the period of the injured person’s disability until the date the person is able to return to the person’s usual occupation. This benefit is subject to a maximum payment of $3,000 per month and a maximum payment period in the aggregate of 52 weeks. As used in this paragraph, “income” includes but is not limited to salary, wages, tips, commissions, professional fees and profits from an individually owned business or farm.

(c) If the injured person is not usually engaged in a remunerative occupation and if disability continues for at least 14 days, the expenses reasonably incurred by the injured person for essential services that were performed by a person who is not related to the injured person or residing in the injured person’s household in lieu of the services the injured person would have performed without income during the period of the person’s disability until the date the person is reasonably able to perform such essential services. This benefit is subject to a maximum payment of $30 per day and a maximum payment period in the aggregate of 52 weeks.

(d) All reasonable and necessary funeral expenses incurred within one year after the date of the person’s injury, but not more than $5,000.

(e) If the injured person is a parent of a minor child and is required to be hospitalized for a minimum of 24 hours, $25 per day for child care, with payments to begin after the initial 24 hours of hospitalization and to be made for as long as the person is unable to return to work if the person is engaged in a remunerative occupation or for as long as the person is unable to perform essential services that the person would have performed without income if the person is not usually engaged in a remunerative occupation, but not to exceed $750.

(2) With respect to the insured person and members of that person’s family residing in the same household, an insurer may offer forms of coverage for the benefits required by subsection (1)(a), (b) and (c) of this section with deductibles of up to $250. [Formerly 743.805; 1991 c.768 §7; 2003 c.813 §2; 2005 c.341 §1; 2009 c.66 §1; 2015 c.5 §4]

Source: Section 742.524 — Contents of personal injury protection benefits; deductibles , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 744.300 — OR Code / Title 56 / Chapter 744 / Section 744.300
744.300 License and indorsement
Status: in_force

(1) A person shall not act as a managing general agent with respect to risks located in this state for an authorized insurer unless the person holds a license issued under ORS 744.062 (Issuance of insurance producer license) authorizing the person to act as an insurance producer and indorsed to authorize the person to act as a managing general agent.

(2) A person shall not act as a managing general agent representing a domestic insurer with respect to risks located outside this state unless the person holds a license issued under ORS 744.062 (Issuance of insurance producer license) authorizing the person to act as an insurance producer and indorsed to authorize the person to act as a managing general agent.

(3) For purposes of ORS 744.300 (License and indorsement) to 744.316 (Authority of director if managing general agent violates provisions of ORS 744.300 to 744.316) , a person acts as a managing general agent when the person:

(a) Negotiates and binds ceding reinsurance contracts on behalf of an authorized insurer or manages all or part of the insurance business of an authorized insurer, including the management of a separate division, department or underwriting office, and acts as an insurance producer for the insurer, whether the person is known as a managing general agent, manager or other similar term; and

(b) With or without the authority, either separately or together with affiliates, produces, directly or indirectly, and underwrites an amount of gross direct written premium equal to or more than five percent of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year, together with either or both of the following activities:

(A) Adjusting or paying claims in excess of an amount determined by the Director of the Department of Consumer and Business Services.

(B) Negotiating reinsurance on behalf of the insurer.

(4) The provisions of ORS 744.062 (Issuance of insurance producer license) governing application for amendment of a license apply to the indorsement of the license of an insurance producer for authority to act as a managing general agent, except that an examination is not required for the indorsement.

(5) The provisions of this section are subject to exemptions stated in ORS 744.301 (Exemptions from license requirement) . [1991 c.495 §2; 2001 c.191 §39; 2003 c.364 §119]

Source: Section 744.300 — License and indorsement; managing general agent described , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 734.590 — OR Code / Title 56 / Chapter 734 / Section 734.590
734.590 Plan of operation
Status: in_force

(1) The Oregon Insurance Guaranty Association shall submit to the Director of the Department of Consumer and Business Services not later than 90 days after September 9, 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 thereafter 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 of operation. [1971 c.616 §10]

Source: Section 734.590 — Plan of operation; submission to director; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html (accessed May 26, 2025).
ORS § 746.663 — OR Code / Title 56 / Chapter 746 / Section 746.663
746.663 Cancellation or nonrenewal of personal insurance policies based on credit history or insurance score
Status: in_force

(1) An insurer that issues personal insurance policies in this state may not cancel or nonrenew a policy of personal insurance based in whole or in part on a consumer’s credit history or insurance score.

(2) If, prior to January 1, 2004, an insurer has assigned a consumer to a less favorable rating category for a policy of personal insurance based in whole or in part on the consumer’s credit history or insurance score, the consumer may request, no more than once annually, that the insurer rerate the consumer according to the standards that the insurer would apply to the consumer if the consumer were initially applying for the same personal insurance on or after January 1, 2004.

(3) An insurer that receives a request under subsection (2) of this section may not consider that the consumer was assigned to a less favorable rate category when the insurer rerates the consumer.

(4) If an insurer uses disputed credit history to determine eligibility for coverage of personal insurance and places a consumer with an affiliate that charges higher premiums or offers less favorable policy terms:

(a) The insurer shall rerate the policy retroactive to the effective date of the current policy term; and

(b) The policy, as reissued or rerated, shall provide the premiums and policy terms for which the consumer would have been eligible if accurate credit history had been used to determine eligibility.

(5) If an insurer charges higher premiums due to disputed credit history, the insurer shall rerate the policy retroactive to the effective date of the current policy term. As rerated, the insurer shall charge the consumer the same premiums the consumer would have been charged if accurate credit history had been used to calculate an insurance score.

(6) Subsections (4) and (5) of this section apply only if the consumer resolves the credit dispute under the process set forth in the federal Fair Credit Reporting Act (15 U.S.C. 1681) and notifies the insurer in writing that the dispute has been resolved.

(7) Except as provided in subsections (2), (4) and (5) of this section, an insurer may only use rating factors other than credit history or insurance score to rerate the policy at renewal. [2003 c.788 §7]

Source: Section 746.663 — Cancellation or nonrenewal of personal insurance policies based on credit history or insurance score , https://www.­oregonlegislature.­gov/bills_laws/ors/ors746.­html (accessed May 26, 2025).
ORS § 742.218 — OR Code / Title 56 / Chapter 742 / Section 742.218
742.218 Additional perils insured
Status: in_force

A fire insurance policy shall contain a provision as follows: “Any other peril to be insured against or subject of insurance to be covered in this policy shall be by indorsement in writing hereon or added hereto.” [Formerly 743.627]

Source: Section 742.218 — Additional perils insured , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 743.550 — OR Code / Title 56 / Chapter 743 / Section 743.550
743.550 Student health insurance
Status: in_force

(1) Student health insurance is subject to ORS 743.537 (Required provisions for blanket health insurance policies) , 743.540 (Application and certificates not required for blanket health insurance policies) , 743.543 (Payment of benefits under blanket health insurance policies) , 743.546 (Exemption of policy form approval for blanket health insurance policies) and 743B.475 (Guidelines for coordination of benefits) , except as provided in this section.

(2) Coverage under a student health insurance policy may be mandatory for all students at the institution, voluntary for all students at the institution, or mandatory for defined classes of students and voluntary for other classes of students. As used in this subsection, “classes” refers to undergraduates, graduate students, domestic students, international students or other like classifications. Any differences based on a student’s nationality may be established only for the purpose of complying with federal law in effect when the policy is issued.

(3) When coverage under a student health insurance policy is mandatory, the policyholder may allow any student subject to the policy to decline coverage if the student provides evidence acceptable to the policyholder that the student has similar health coverage.

(4) A student health insurance policy may provide for any student to purchase optional supplemental coverage.

(5) Student health insurance coverage for athletic injuries may:

(a) Exclude coverage for injuries of students who have not obtained medical release for a similar injury; and

(b) Be provided in excess of or in addition to any other coverage under any other health insurance policy, including a student health insurance policy.

(6) A student health insurance policy may provide that coverage under the policy is secondary to any other health insurance for purposes of guidelines established under ORS 743B.475 (Guidelines for coordination of benefits) .

(7) A student health insurance policy may provide, on request by the policyholder, that all or any portion of any indemnities provided by such policy on account of hospital, nursing, medical or surgical services may, at the insurer’s option, be paid directly to the hospital or person rendering such services. However, the amount of any such payment shall not exceed the amount of benefit provided by the policy with respect to the service or billing of the provider of aid. The amount of such payments pursuant to one or more assignments shall not exceed the amount of expenses incurred on account of such hospitalization or medical or surgical aid.

(8) An insurer providing student health insurance as primary coverage may negotiate and enter into contracts for alternative rates of payment with providers and offer the benefit of such alternative rates to insureds who select such providers. An insurer may utilize such contracts by offering a choice of plans at the time an insured enrolls, one of which provides benefits only for services by members of a particular provider organization with whom the insurer has an agreement. If an insured chooses such a plan, benefits are payable only for services rendered by a member of that provider organization, unless such services were requested by a member of such organization or are rendered as the result of an emergency.

(9) Payments made under subsection (8) of this section shall discharge the insurer’s obligation with respect to the amount of insurance paid.

(10) An insurer shall provide each student health insurance policyholder with a current roster of institutional and professional providers under contract to provide services at alternative rates under the group policy and shall also make such lists available for public inspection during regular business hours at the insurer’s principal office within this state.

(11) As used in this section, “student health insurance”:

(a) Means that form of health insurance under a policy issued to a college, school or other institution of learning, a school district or districts, or school jurisdictional unit, or recognized student government at a public university listed in ORS 352.002 (Public universities) , or to the head, principal or governing board of any such educational unit, who or which shall be deemed the policyholder, that is available exclusively to students at the college, school or other institution.

(b) Does not include a student health benefit plan as defined in ORS 743.551 (Student health benefit plans) . [1995 c.623 §2; 2011 c.637 §289; 2013 c.681 §15]

Source: Section 743.550 — Student health insurance , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 731.056 — OR Code / Title 56 / Chapter 731 / Section 731.056
731.056 “Action.”
Status: in_force

“Action” means any action, suit or legal proceeding. [1967 c.359 §12]

Source: Section 731.056 — “Action.” , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 742.492 — OR Code / Title 56 / Chapter 742 / Section 742.492
742.492 Duration of reduction
Status: in_force

Except as otherwise provided in this section, the premium reduction required by ORS 742.490 (Premium reduction) (1) shall be effective for an insured for a three-year period after successful completion of the approved course if the person is less than 70 years of age at the time of taking the course or for a two-year period after successful completion of an approved course if the person is 70 years of age or more at the time of taking the course. An insurer may require, as a condition of maintaining the discount, that the insured:

(1) Not be involved in an accident for which the insured is at fault; and

(2) Not be convicted of or plead guilty or nolo contendere to a moving traffic violation. [1989 c.379 §3]

Source: Section 742.492 — Duration of reduction , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 750.015 — OR Code / Title 56 / Chapter 750 / Section 750.015
750.015 Management to include representatives of public
Status: in_force

(1) Except as provided in subsection (2) of this section, at least one-third of the group of persons vested with managing the affairs of a health care service contractor, as defined in ORS 750.005 (Definitions) (4)(a), must be representatives of the public who are not:

(a) Practicing doctors; or

(b) Employees or trustees of a participant hospital.

(2) Intentionally left blank —Ed.

(a) Notwithstanding subsection (1) of this section, the group of persons vested with managing the affairs of a nonprofit private organization described in paragraph (b) of this subsection must have at least two representatives of the public who are not:

(A) Practicing doctors, as defined in ORS 750.005 (Definitions) ; or

(B) Employees or trustees of a participant hospital.

(b) This subsection applies to a nonprofit private organization that is a health maintenance organization, as defined in ORS 442.015 (Definitions) , that is controlled by a single nonprofit hospital or by a group of nonprofit hospitals under common ownership and that operates in a county with a population of 200,000 or more. [Formerly 742.015; 1983 c.804 §1; 2003 c.33 §6; 2017 c.479 §19]

Source: Section 750.015 — Management to include representatives of public , https://www.­oregonlegislature.­gov/bills_laws/ors/ors750.­html (accessed May 26, 2025).
ORS § 731.378 — OR Code / Title 56 / Chapter 731 / Section 731.378
731.378 Foreign and alien insurers exempt from laws governing admission of foreign and alien corporations
Status: in_force

No foreign or alien insurer that has complied with the requirements of the Insurance Code shall be subject to any other provisions of the laws of this state relating to admission or licensing of foreign or alien corporations. [Formerly 736.220]

Source: Section 731.378 — Foreign and alien insurers exempt from laws governing admission of foreign and alien corporations , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 732.215 — OR Code / Title 56 / Chapter 732 / Section 732.215
732.215 Management contracts prohibited
Status: in_force

No domestic insurer shall make any contract whereby any person is granted or is to enjoy in fact the management of the insurer to the substantial exclusion of its board of directors or other governing body. [1967 c.359 §166]

Source: Section 732.215 — Management contracts prohibited , https://www.­oregonlegislature.­gov/bills_laws/ors/ors732.­html (accessed May 26, 2025).
ORS § 734.790 — OR Code / Title 56 / Chapter 734 / Section 734.790
734.790 Application
Status: in_force

(1) ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) provide coverage for policies and contracts specified in subsection (2) of this section to the following persons who are not provided coverage under the laws of another state:

(a) To a person who is a resident, if the person is an owner of or a certificate holder under the policy or contract other than a structured settlement annuity or, in the case of an unallocated annuity contract, an employee participating in a governmental retirement plan established under section 401, 403(b) or 457 of the United States Internal Revenue Code or the beneficiaries of each such individual if deceased.

(b) To a person who is not a resident, if the person is an owner of or a certificate holder under the policy or contract other than a structured settlement annuity or, in the case of an unallocated annuity contract, an employee participating in a governmental retirement plan established under section 401, 403(b) or 457 of the United States Internal Revenue Code or the beneficiaries of each such individual if deceased. This paragraph applies to a person who is not a resident only if all of the following conditions are met:

(A) The insurer that issued the policy or contract must be a member insurer.

(B) The state in which the person resides must have an association similar to the Oregon Life and Health Insurance Guaranty Association.

(C) The person must not be eligible for coverage by an association in the state in which the person resides, as described in subparagraph (B) of this paragraph, due to the fact that the insurer was not authorized to transact insurance or licensed in that state at the time specified in the state’s guaranty association law.

(c) To a person who, regardless of where the person resides, is a beneficiary, assignee or payee of the persons covered under paragraph (a) or (b) of this subsection. This paragraph does not include a nonresident certificate holder under a group policy or contract.

(d) To a person who is a payee under a structured settlement annuity, or to the beneficiary of a payee if the payee is deceased, if the payee:

(A) Is a resident, regardless of where the contract owner resides; or

(B) Is not a resident, but only under both of the following conditions:

(i) The contract owner of the structured settlement annuity is a resident and is not afforded any coverage by an association in another state that is similar to the association created under ORS 734.800 (Oregon Life and Health Insurance Guaranty Association) , or the contract owner of the structured settlement annuity is not a resident but the insurer that issued the structured settlement annuity is domiciled in this state and the state in which the contract owner resides has an association similar to the association created under ORS 734.800 (Oregon Life and Health Insurance Guaranty Association) ; and

(ii) Neither the payee or beneficiary nor the contract owner of the structured settlement annuity is eligible for coverage by the association of the state in which the payee or contract owner resides.

(2) Except as limited by ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) , the association shall provide coverage to the persons specified in subsection (1) of this section for direct nongroup life or health insurance policies or annuity contracts, for certificates under direct group policies or contracts, and for supplemental contracts to any of these, in each case issued by member insurers.

(3) ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) do not provide coverage for:

(a) That portion of any policy or contract not guaranteed by the member insurer or under which the risk is borne by the policyholder or contract owner.

(b) Any policy or contract or part thereof assumed by the impaired or insolvent insurer under a contract of reinsurance, other than reinsurance for which assumption certificates have been issued.

(c) Any policy or contract issued by a health care service contractor complying with ORS 750.005 (Definitions) to 750.095 (Requirements of contract between provider and subscriber) .

(d) Any policy or contract issued by a fraternal benefit society.

(e) Any portion of a policy or contract to the extent that the interest rate on which the policy or contract is based, or to the extent that the interest rate, crediting rate or similar factor determined by use of an index or other external reference stated in the policy or contract for the purpose of calculating returns or changes in value:

(A) Exceeds, when averaged over the period of four years prior to the date on which the member insurer becomes either an impaired or insolvent insurer under ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) , whichever occurs first, a rate of interest determined by subtracting four percentage points from Moody’s Corporate Bond Yield Average averaged for that same four-year period or for a lesser period if the policy or contract was issued less than four years before the member insurer becomes either an impaired or insolvent insurer under ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) , whichever occurred first; and

(B) Exceeds, on and after the date on which the member insurer becomes either an impaired or insolvent insurer under ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) , whichever occurs first, the rate of interest determined by subtracting three percentage points from Moody’s Corporate Bond Yield Average as most recently available.

(f) Any portion of a policy or contract issued to a plan or program of an employer, association or similar entity to provide life insurance, health insurance or annuity benefits to its employees or members to the extent that the plan or program is self-funded or uninsured, including benefits payable by an employer, association or similar entity under any of the following:

(A) A multiple employer welfare arrangement as defined in section 3(40) (29 U.S.C. 1002(40)) of the Employee Retirement Income Security Act of 1974, as amended.

(B) A minimum premium group insurance plan.

(C) A stop-loss group insurance plan.

(D) An administrative services only contract.

(g) Any portion of a policy or contract to the extent that it provides dividends or experience rating credits or voting rights, or provides that any fees or allowances be paid to any person, including the policyholder or contract owner, in connection with the service to or administration of the policy or contract.

(h) Any policy or contract issued in this state by a member insurer at a time that the insurer did not have a certificate of authority to issue the policy or contract in this state.

(i) Any unallocated annuity contract issued to or in connection with an employee benefit plan protected under the federal Pension Benefit Guaranty Corporation, regardless of whether the federal Pension Benefit Guaranty Corporation has yet become liable to make any payments with respect to the benefit plan.

(j) Any portion of any unallocated annuity contract that is not issued to or in connection with a government retirement plan referred to in subsection (1) of this section, or a government lottery.

(k) Any portion of a policy or contract to the extent that the assessments required by ORS 734.815 (Assessment of members) with respect to the policy or contract are preempted by federal or state law.

(L) An obligation that does not arise under the express written terms of the policy or contract issued by the insurer to the policyholder or contract owner, including but not limited to:

(A) Claims based on marketing materials;

(B) Claims based on side letters, riders or other documents that were issued by the insurer without meeting applicable policy or contract form filing or approval requirements;

(C) Misrepresentations of, or regarding, policy or contract benefits;

(D) Extracontractual claims, including but not limited to claims related to bad faith in the payment of claims, punitive or exemplary damages or attorney fees or costs; or

(E) A claim for penalties or consequential or incidental damages.

(m) A contractual agreement that establishes the member insurer’s obligations to provide a book value accounting guaranty for defined contribution benefit plan participants by reference to a portfolio of assets that is owned by the benefit plan or its trustee that in either case is not an affiliate of the member insurer.

(n) Any portion of a policy or contract to the extent that portion provides for interest or other changes in value to be determined by the use of an index or other external reference stated in the policy or contract, but the changes in value have not been credited to the policy or contract, or as to which the policyholder’s or contract owner’s rights are subject to forfeiture, as of the date on which the member insurer becomes either an impaired or insolvent insurer, whichever occurs first. If the interest or changes in value in a policy or contract are credited less frequently than annually, for purposes of determining the values that have been credited and are not subject to forfeiture under this paragraph, the interest or change in value that is determined by using the procedures specified in the policy or contract shall be credited as if the contractual date of crediting interest or changing value was the date of the impairment or insolvency, whichever is earlier, and may not be subject to forfeiture.

(o) Any policy or contract providing any hospital, medical, prescription drug or other health care benefits under Part C or Part D of subchapter XVIII, chapter 7, Title 42 of the United States Code, or any regulations issued under those provisions.

(4) As used in this section, “Moody’s Corporate Bond Yield Average” means the Monthly Average Corporates as published by Moody’s Investors Service, Inc., or any successor thereto. [1975 c.251 §4; 1987 c.414 §181; 1991 c.811 §3; 2011 c.142 §2; 2013 c.698 §13]

Source: Section 734.790 — Application , https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html (accessed May 26, 2025).
ORS § 744.313 — OR Code / Title 56 / Chapter 744 / Section 744.313
744.313 Financial examination
Status: in_force

(1) An insurer shall have on file an independently performed financial examination of each managing general agent with which it has done business, in a form prescribed by the Director of the Department of Consumer and Business Services.

(2) An insurer is ultimately responsible for reporting the loss reserves. If a managing general agent calculates the loss reserves or a portion thereof, the insurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves calculated for losses incurred and outstanding on business produced by the managing general agent. The requirement under this subsection is in addition to any other required loss reserve actuarial opinion. The actuary must be a member in good standing of an association of actuaries determined by the director to have established adequate professional standards for membership.

(3) Periodically, but not less frequently than annually, an insurer shall conduct an on-site review of the underwriting and claims processing operations of the managing general agent.

(4) Binding authority for all reinsurance contracts or participation in insurance or reinsurance syndicates shall rest with an officer of the insurer. The officer must not be affiliated with the managing general agent.

(5) Not later than the 30th day after entering into a contract with a managing general agent, and not later than the 30th day after terminating such a contract, an insurer shall provide written notification of the appointment or termination to the director. A notice of appointment shall include any information required by the director.

(6) An insurer shall review its books and records each calendar quarter to determine if any insurance producer who previously had not produced and underwritten sufficient gross direct written premium to meet the description of a managing general agent in ORS 744.300 (License and indorsement) has become a managing general agent subject to ORS 744.300 (License and indorsement) to 744.316 (Authority of director if managing general agent violates provisions of ORS 744.300 to 744.316) . When an insurer determines that an insurance producer has become a managing general agent:

(a) The insurer shall promptly notify the insurance producer and the director of its determination.

(b) The insurer and insurance producer must fully comply with ORS 744.300 (License and indorsement) to 744.316 (Authority of director if managing general agent violates provisions of ORS 744.300 to 744.316) not later than the 60th day after the date of notification under paragraph (a) of this subsection.

(7) An insurer shall not appoint to its board of directors an officer, director, employee, subproducer or controlling shareholder of any of its managing general agents. This subsection does not apply to relationships governed by 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) .

(8) The acts of a managing general agent shall be regarded as the acts of the insurer on whose behalf the managing general agent is acting. The director may examine a managing general agent as if it were the insurer. [1991 c.495 §§8,9; 2003 c.364 §121]

Source: Section 744.313 — Financial examination; loss reserves; notification of appointment and termination; acts of managing general agent attributed to insurer , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 742.572 — OR Code / Title 56 / Chapter 742 / Section 742.572
742.572 Immunity from liability of persons furnishing information regarding cancellation or nonrenewal of policies
Status: in_force

There shall be no liability on the part of and no cause of action of any nature shall arise against the Director of the Department of Consumer and Business Services or against any insurer, its authorized representative, its agents, its employees, or any firm, person or corporation furnishing to the insurer information as to reasons for cancellation or nonrenewal, for any statement made by any of them in any written notice of cancellation or nonrenewal, or in any other communication, oral or written, specifying the reasons for cancellation or nonrenewal, or providing of information pertaining thereto, or for statements made or evidence submitted at any hearings conducted in connection therewith. [Formerly 743.930]

Source: Section 742.572 — Immunity from liability of persons furnishing information regarding cancellation or nonrenewal of policies , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 742.546 — OR Code / Title 56 / Chapter 742 / Section 742.546
742.546 Required disclosure in release for bodily injuries related to personal injury protection benefits
Status: in_force

(1) When a motor vehicle liability insurer obtains a release for bodily injuries within 60 calendar days following an accident from a person who is eligible to receive personal injury protection benefits under ORS 742.518 (Definitions for ORS 742.518 to 742.542) to 742.542 (Effect of personal injury protection benefits paid) , the release must state that, subject to the motor vehicle liability insurer’s applicable limits of liability, the rights of an insurer furnishing personal injury protection to recover payments made for medical benefits from the motor vehicle liability insurer are not impaired.

(2) Nothing in this section impairs the rights of a motor vehicle liability insurer to contest a recovery claim from an insurer furnishing personal injury protection, based upon liability or the reasonableness or necessity of medical benefits paid by the insurer furnishing personal injury protection. [2009 c.545 §2]

Note: 742.546 (Required disclosure in release for bodily injuries related to personal injury protection benefits) and 742.548 (Required language in disclosure) were added to and made a part of the Insurance Code by legislative action but were not added to ORS chapter 742 or any series therein. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 742.546 — Required disclosure in release for bodily injuries related to personal injury protection benefits , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 742.500 — OR Code / Title 56 / Chapter 742 / Section 742.500
742.500 Definitions for ORS 742.500 to 742.506
Status: in_force

As used in ORS 742.500 (Definitions for ORS 742.500 to 742.506) to 742.506 (Allocation of responsibility among insurers) :

(1) “Bodily injury” has the meaning given that term in ORS 742.504 (Required provisions of uninsured motorist coverage) .

(2) “Insured” has the meaning given that term in ORS 742.504 (Required provisions of uninsured motorist coverage) .

(3) Intentionally left blank —Ed.

(a) “Motor vehicle” means every self-propelled device in, upon or by which any person or property is or may be transported or drawn upon a public highway.

(b) “Motor vehicle” does not include:

(A) A device used exclusively on stationary rails or tracks;

(B) Motor trucks, as defined in ORS 801.355 (“Motor truck.”) , that have a registration weight, as defined in ORS 803.430 (Certain vehicles required to establish registration weight for fee determination) , of more than 8,000 pounds, if the insured has employees that operate the trucks and a workers’ compensation law, a disability benefits law or a similar law covers the employees; or

(C) Farm-type tractors or self-propelled equipment designed for use principally off public highways.

(4) “Sums that the insured or the heirs or legal representative of the insured is legally entitled to recover as damages” has the meaning given that term in ORS 742.504 (Required provisions of uninsured motorist coverage) .

(5) “Uninsured motorist coverage” means coverage within the terms and conditions specified in ORS 742.504 (Required provisions of uninsured motorist coverage) that insures the insured or the heirs or legal representative of the insured for all sums that the insured or the heirs or legal representative is legally entitled to recover as damages for bodily injury or death that is caused by accident and that arises from owning, maintaining or using an uninsured vehicle in amounts or limits not less than the amounts or limits prescribed for bodily injury or death under ORS 806.070 (Minimum payment schedule) .

(6) “Uninsured vehicle” has the meaning given that term in ORS 742.504 (Required provisions of uninsured motorist coverage) . [Formerly 743.786; 2015 c.5 §1]

Source: Section 742.500 — Definitions for ORS 742.500 to 742.506 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 733.115 — OR Code / Title 56 / Chapter 733 / Section 733.115
733.115 Establishing reserves for variable life insurance and annuity policies
Status: in_force

Reserves for variable life insurance and annuity policies shall be established in accordance with actuarial procedures that recognize the variable nature of the benefits provided, any mortality guarantees, and the valuation requirements of the Standard Valuation Law. [1973 c.435 §24; 1981 c.609 §4]

Source: Section 733.115 — Establishing reserves for variable life insurance and annuity policies , https://www.­oregonlegislature.­gov/bills_laws/ors/ors733.­html (accessed May 26, 2025).
ORS § 743b.505 — OR Code / Title 56 / Chapter 743b / Section 743b.505
743B.505 Provider networks
Status: in_force

(1) An insurer offering a health benefit plan in this state that provides coverage to individuals or to small employers, as defined in ORS 743B.005 (Definitions) , through a specified network of health care providers shall:

(a) Contract with or employ a network of providers that is sufficient in number, geographic distribution and types of providers to ensure that all covered services under the health benefit plan, including mental health and substance abuse treatment, are accessible to enrollees for initial and follow-up appointments without unreasonable delay.

(b) Intentionally left blank —Ed.

(A) With respect to health benefit plans offered through the health insurance exchange under ORS 741.310 (Requirements for purchase of insurance through exchange and for participation of insurers in exchange) , contract with a sufficient number and geographic distribution of essential community providers, where available, to ensure reasonable and timely access to a broad range of essential community providers for low-income, medically underserved individuals in the plan’s service area in accordance with the network adequacy standards established by the Department of Consumer and Business Services;

(B) If the health benefit plan offered through the health insurance exchange offers a majority of the covered services through physicians employed by the insurer or through a single contracted medical group, have a sufficient number and geographic distribution of employed or contracted providers and hospital facilities to ensure reasonable and timely access for low-income, medically underserved enrollees in the plan’s service area, in accordance with network adequacy standards adopted by the Department of Consumer and Business Services; or

(C) With respect to health benefit plans offered outside of the health insurance exchange, contract with or employ a network of providers that is sufficient in number, geographic distribution and types of providers to ensure access to care by enrollees who reside in locations within the health benefit plan’s service area that are designated by the Health Resources and Services Administration of the United States Department of Health and Human Services as health professional shortage areas or low-income zip codes.

(c) Annually report to the Department of Consumer and Business Services, in the format prescribed by the department, the insurer’s network of providers for each health benefit plan.

(2) Intentionally left blank —Ed.

(a) An insurer may not discriminate with respect to participation under a health benefit plan or coverage under the plan against any health care provider who is acting within the scope of the provider’s license or certification in this state.

(b) This subsection does not require an insurer to contract with any health care provider who is willing to abide by the insurer’s terms and conditions for participation established by the insurer.

(c) This subsection does not prevent an insurer from establishing varying reimbursement rates based on quality or performance measures.

(d) Rules adopted by the Department of Consumer and Business Services to implement this section shall be consistent with the provisions of 42 U.S.C. 300gg-5 and the rules adopted by the United States Department of Health and Human Services, the United States Department of the Treasury or the United States Department of Labor to carry out 42 U.S.C. 300gg-5 that are in effect on January 1, 2017.

(3) The Department of Consumer and Business Services shall use one of the following methods in an annual evaluation of whether the network of providers available to enrollees in a health benefit plan meets the requirements of this section:

(a) An approach by which an insurer submits evidence that the insurer is complying with at least one of the factors prescribed by the department by rule from each of the following categories:

(A) Access to care consistent with the needs of the enrollees served by the network;

(B) Consumer satisfaction;

(C) Transparency; and

(D) Quality of care and cost containment; or

(b) A nationally recognized standard adopted by the department and adjusted, as necessary, to reflect the age demographics of the enrollees in the plan.

(4) In evaluating an insurer’s network of mental and behavioral health providers under subsection (3) of this section, the department shall ensure that the network includes:

(a) An adequate number and geographic distribution, as prescribed by the department by rule, of licensed professional counselors, licensed marriage and family therapists, licensed clinical social workers, psychologists and psychiatrists who are accepting new patients, based on the needs of the insureds under the policy or certificate, including but not limited to providers who can address the needs of:

(A) Children and adults;

(B) Individuals with limited English proficiency or who are illiterate;

(C) Individuals with diverse cultural or ethnic backgrounds;

(D) Individuals with chronic or complex behavioral health conditions; and

(E) Other groups specified by the department by rule; and

(b) An adequate number of the providers described in paragraph (a) of this subsection in all geographic areas where the insurer offers plans.

(5) This section does not require an insurer to contract with an essential community provider that refuses to accept the insurer’s generally applicable payment rates for services covered by the plan.

(6) This section does not require an insurer to submit provider contracts to the department for review. [2015 c.59 §2; 2017 c.152 §13; 2021 c.629 §6]

Note: 743B.505 (Provider networks) 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.505 — Provider networks; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743B.­html (accessed May 26, 2025).
ORS § 744.359 — OR Code / Title 56 / Chapter 744 / Section 744.359
744.359 Disclosure by life settlement broker or provider to insurer
Status: in_force

Prior to the initiation of a plan, transaction or series of transactions, a life settlement broker or life settlement provider shall fully disclose to an insurer the plan, transaction or series of transactions to which the life settlement broker or life settlement provider is a party, to originate, renew, continue or finance a life insurance policy with the insurer for the purpose of engaging in the business of life settlements at anytime prior to, or during the first five years after, issuance of the policy. [2009 c.711 §12]

Source: Section 744.359 — Disclosure by life settlement broker or provider to insurer , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 731.854 — OR Code / Title 56 / Chapter 731 / Section 731.854
731.854 Retaliatory tax
Status: in_force

(1) When by or pursuant to the laws of any other state or foreign country any taxes, licenses and other fees, in the aggregate, and any fines, penalties, deposit requirements or other material obligations, prohibitions or restrictions are or would be imposed upon insurers domiciled in this state, or upon the insurance producers or representatives of such insurers, which are in excess of such taxes, licenses and other fees, in the aggregate, or which are in excess of the fines, penalties, deposit requirements or other obligations, prohibitions, or restrictions directly imposed upon similar insurers, or upon the insurance producers or representatives of such insurers, of such other state or country under the statutes of this state, so long as such laws of such other state or country continue in force or are so applied, the same taxes, licenses and other fees, in the aggregate, or fines, penalties or deposit requirements or other material obligations, prohibitions, or restrictions of whatever kind shall be imposed by the Director of the Department of Consumer and Business Services upon the insurers, or upon the insurance producers or representatives of such insurers, of such other state or country doing business or seeking to do business in this state. Any tax, license or other fee or other obligation imposed by any city, county, or other political subdivision or agency of such other state or country on insurers domiciled in this state or their insurance producers or representatives shall be deemed to be imposed by such state or country within the meaning of this subsection.

(2) Foreign reciprocal or interinsurance exchanges filing a consolidated return for purposes of ORS chapter 317 shall prepare and file a separate individual retaliatory tax calculation. The excise tax for the consolidated group shall be allocated for retaliatory tax purposes among the individual foreign insurers writing Oregon premiums. The allocation, after excluding the domestic share as determined by the Director of the Department of Consumer and Business Services by rule, shall be in the proportion that the premiums written in Oregon by a foreign insurer of the group bears to the total premiums written in Oregon by all foreign insurers in the group writing premiums in Oregon.

(3) This section does not apply as to personal income taxes, nor as to local ad valorem taxes on real or personal property nor as to special purpose obligations or assessments heretofore imposed by another state in connection with particular classes of insurance, other than property insurance; except that deductions, from premium taxes or other taxes otherwise payable, allowed on account of real estate or personal property taxes paid shall be taken into consideration by the director in determining the propriety and extent of retaliatory action under this section.

(4) For the purpose of applying this section to an alien insurer, its domicile shall be determined in accordance with ORS 731.092 (“Domicile.”) and 731.096 (“Domicile of alien insurer.”) .

(5) For the purpose of applying this section to foreign and alien insurers, the following specifically shall be treated as taxes imposed by this state:

(a) The corporate excise tax imposed under ORS chapter 317, without taking into consideration the amount of any reduction due to the credit allowed under ORS 315.533 (Qualified equity investments) .

(b) The assessments imposed under ORS 731.804 (Assessments) made to support the legislatively authorized budget of the Department of Consumer and Business Services with respect to the functions of the department under the Insurance Code.

(c) The assessments paid by insurers on behalf of their insureds under ORS 656.612 (Assessments for department activities) . [Formerly 736.237; 1995 c.786 §7a; 2003 c.364 §80; 2013 c.744 §4]

Source: Section 731.854 — Retaliatory tax , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 731.828 — OR Code / Title 56 / Chapter 731 / Section 731.828
731.828 Computation of wet marine and transportation insurance tax
Status: in_force

(1) Each authorized insurer transacting wet marine and transportation insurance in this state shall file annually on or before June 15 with the Director of the Department of Consumer and Business Services and in the form prescribed by the director, a report of all the items pertaining to the authorized insurer’s insurance business as enumerated and prescribed in ORS 731.824 (Tax on underwriting profits of wet marine and transportation insurers) .

(2) Each authorized insurer that has written wet marine and transportation insurance in this state for three years shall furnish to the director a statement of all of the items referred to in subsection (1) of this section, in the form prescribed by the director, for each of the preceding three calendar years. An authorized insurer that has not written wet marine and transportation insurance for three years shall furnish to the director a statement of all items for each of the calendar years during which the authorized insurer has written wet marine and transportation insurance.

(3) On or before June 15 of each year, if the authorized insurer has transacted wet marine and transportation insurance for three years, the authorized insurer shall:

(a) Ascertain the average annual underwriting profit, as provided in ORS 731.824 (Tax on underwriting profits of wet marine and transportation insurers) , derived by the authorized insurer from wet marine and transportation insurance business written within the United States during the last preceding three calendar years.

(b) Ascertain the proportion that the average annual premiums of the authorized insurer from wet marine and transportation insurance written by the authorized insurer in this state during the last preceding three calendar years bears to the average total of wet marine and transportation insurance premiums of the authorized insurer during the same three years.

(c) Pay five percent on this proportion of the average annual underwriting profit of the authorized insurer from wet marine and transportation insurance to the director as a tax upon the insurance written by the authorized insurer in this state during the current calendar year.

(4) The authorized insurer each year shall compute the tax, according to the method described in this section, upon the authorized insurer’s average annual underwriting profit from wet marine and transportation insurance during the preceding three years, including the current calendar year. At the expiration of each current calendar year, the profit or loss on wet marine and transportation insurance business of that year is to be added or deducted, and the profit or loss upon the insurance business of the first calendar year of the preceding three-year period is to be dropped so that the computation of underwriting profit for purposes of taxation under this section will always be on a three-year average.

(5) An authorized insurer that has not written wet marine and transportation insurance in this state for three years shall, until the authorized insurer has transacted wet marine and transportation insurance in this state for three years, be taxed on the basis of the authorized insurer’s annual underwriting profit on wet marine and transportation insurance written within the United States for the current calendar year, subject, however, to an adjustment in the tax as soon as the authorized insurer, in accordance with the provisions of this section, is enabled to compute the tax on the three-year basis.

(6) In the case of authorized mutual insurers, the authorized insurer may not include in the underwriting profit, when computing the tax prescribed by this section, the amounts refunded by the mutual insurers on account of premiums previously paid by the policyholders of the mutual insurers.

(7) If the director, during the period in which the director under ORS 731.836 (Limitation on enforcement of insurer’s tax obligations) may collect taxes owing under this section, finds the amount of taxes paid by an authorized insurer to have been incorrect, the director shall charge or credit the authorized insurer with the difference between the correct amount of tax and the amount actually paid.

(8) If an authorized insurer ceases to transact wet marine and transportation insurance in this state, the authorized insurer shall report to the director the items the authorized insurer has not previously reported pertaining to the insurance business, as enumerated and described in this section, to the date on which the authorized insurer ceased to transact wet marine and transportation insurance, and shall forthwith pay to the director the taxes computed according to this section and the annual authorization fees thereon. [Formerly 745.150; 1969 c.158 §1; 1975 c.250 §1; 1989 c.700 §7; 2019 c.493 §2]

Source: Section 731.828 — Computation of wet marine and transportation insurance tax , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 732.518 — OR Code / Title 56 / Chapter 732 / Section 732.518
732.518 Definitions for ORS 732.517 to 732.546
Status: in_force

As used in ORS 732.517 (Purpose of ORS 732.517 to 732.546) to 732.546 (Severability) :

(1) “Acquiring party” means a person that acquires or attempts to acquire control of a domestic insurer as described in ORS 732.521 (Activities that are prohibited unless specified procedures followed) (1)(a), that enters into an agreement to merge with or otherwise acquire control of a domestic insurer as described in ORS 732.521 (Activities that are prohibited unless specified procedures followed) (1)(b) or that engages in an activity described in ORS 732.521 (Activities that are prohibited unless specified procedures followed) (1)(c), or an intermediary or subsidiary corporation that holds, directly or indirectly, the assets or voting securities or assumes the liabilities of an insurer or other corporation.

(2) “Acquisition” means an agreement, arrangement or activity that results in a person acquiring control of another person, directly or indirectly, including but not limited to an acquisition of voting securities, a merger, an acquisition of assets or bulk reinsurance.

(3) “Domestic insurer” means an insurer formed under the laws of this state or a person that controls an insurer formed under the laws of this state.

(4) “Significant portion” means, when acquired in one transaction or in a related or integrated series of transactions within any 12 consecutive month period, 10 percent or more of:

(a) The assets of the insurer; or

(b) The insurer’s insurance or major class of insurance in force. [1993 c.447 §26; 2013 c.370 §17]

Source: Section 732.518 — Definitions for ORS 732.517 to 732.546 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors732.­html (accessed May 26, 2025).
ORS § 735.168 — OR Code / Title 56 / Chapter 735 / Section 735.168
735.168 Allowable risks for captive insurer
Status: in_force

(1) A captive insurer may provide reinsurance on risks ceded by an affiliate of the insurer or a controlled unaffiliated business.

(2) A captive insurer may take credit for reserves on risks or portions of risks ceded to reinsurers if the credit is acceptable to the Director of the Department of Consumer and Business Services.

(3) Subject to the prior written approval of the director, a captive insurer may participate in a pool for the purpose of risk distribution sharing. However, a captive insurer may not join or contribute financially to a plan, pool, association or guaranty or insolvency fund in this state, and a captive insurer, or its insured or its parent or any affiliated company or any member organization of its association, may not receive a benefit from a plan, pool, association or guaranty or insolvency fund for claims arising out of the operations of the captive insurer.

(4) A captive reinsurer must annually file with the department an actuarial opinion provided by a qualified actuary on loss and loss adjustment expense reserves. The qualified actuary providing the actuarial opinion must be independent and may not be an employee of the captive reinsurer or an affiliate of the captive reinsurer for which the actuarial opinion is filed.

(5) A captive reinsurer may discount its loss and loss adjustment expense reserves only as allowed in rules adopted by the director.

(6) The director may disallow the discounting of loss and loss adjustment reserves of a captive reinsurer if the captive reinsurer violates any provision of ORS 735.150 (Definitions for ORS 735.150 to 735.190) to 735.190 (Incorporation of captive reinsurer) . [2012 c.84 §11]

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

Source: Section 735.168 — Allowable risks for captive insurer; risk distribution pool; annual actuarial opinion; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors735.­html (accessed May 26, 2025).
ORS § 733.070 — OR Code / Title 56 / Chapter 733 / Section 733.070
733.070 Unearned premium reserve for marine and transportation insurance trip risks
Status: in_force

As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned. The Director of the Department of Consumer and Business Services may require the insurer to carry a reserve equal to 100 percent of premiums on trip risks written during the month ended as of the date of statement. [1967 c.359 §214]

Source: Section 733.070 — Unearned premium reserve for marine and transportation insurance trip risks , https://www.­oregonlegislature.­gov/bills_laws/ors/ors733.­html (accessed May 26, 2025).
ORS § 731.454 — OR Code / Title 56 / Chapter 731 / Section 731.454
731.454 Domestic insurers not to transact business in jurisdiction where not authorized
Status: in_force

No domestic insurer, or any of the representatives thereof, shall transact insurance in any jurisdiction in which such insurer is not authorized in accordance with the laws of such jurisdiction. [Formerly 736.645]

Source: Section 731.454 — Domestic insurers not to transact business in jurisdiction where not authorized , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 742.016 — OR Code / Title 56 / Chapter 742 / Section 742.016
742.016 Policy constitutes entire contract
Status: in_force

(1) Except as provided in ORS 742.043 (Binders) , every contract of insurance shall be construed according to the terms and conditions of the policy. When the contract is made pursuant to a written application therefor, if the insurer delivers a copy of such application with the policy to the insured, thereupon such application shall become a part of the insurance policy. Any application that is not so delivered to the insured shall not be a part of the insurance policy and the insurer shall be precluded from introducing such application as evidence in any action based upon or involving the policy. Any oral representations by the insured that are not included in an application shall not be a part of the insurance policy and the insurer shall be precluded from introducing such representations as evidence in any action based upon or involving the policy.

(2) If any life or health insurance policy is reinstated or renewed, and the insured or assignee or beneficiary with a vested interest under such policy shall make written request to the insurer for a copy of the application, if any, for such reinstatement or renewal, the insurer shall, within 30 days after the receipt at its home or branch office of such request and of satisfactory evidence of such requesting beneficiary’s vested interest, deliver or mail to the person making such request a copy of such application. If such copy shall not be so delivered or mailed, the insurer shall be precluded from introducing such application as evidence in any action based upon or involving such policy or its reinstatement or renewal.

(3) This section does not apply to surety insurance. [Formerly 736.305 and then 743.045]

Source: Section 742.016 — Policy constitutes entire contract; oral representations by insured , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 746.201 — OR Code / Title 56 / Chapter 746 / Section 746.201
746.201 Depository institution to obtain required property insurance when borrower does not
Status: in_force

(1) In a contract or loan agreement, or in a separate document accompanying the contract or loan agreement and signed by the mortgagor, borrower or purchaser, that provides for a loan or other financing secured by the mortgagor’s, borrower’s or purchaser’s real or personal property and that authorizes the secured party to place insurance on the property when the mortgagor, borrower or purchaser fails to maintain the insurance as required by the contract or loan agreement or the separate document, a warning in substantially the following form shall be set forth in 10-point type:

Unless you provide us with evidence of the insurance coverage as required by our contract or loan agreement, we may purchase insurance at your expense to protect our interest. This insurance may, but need not, also protect your interest. If the collateral becomes damaged, the coverage we purchase may not pay any claim you make or any claim made against you. You may later cancel this coverage by providing evidence that you have obtained property coverage elsewhere.

You are responsible for the cost of any insurance purchased by us. The cost of this insurance may be added to your contract or loan balance. If the cost is added to your contract or loan balance, the interest rate on the underlying contract or loan will apply to this added amount. The effective date of coverage may be the date your prior coverage lapsed or the date you failed to provide proof of coverage.

The coverage we purchase may be considerably more expensive than insurance you can obtain on your own and may not satisfy any need for property damage coverage or any mandatory liability insurance requirements imposed by applicable law.

(2) Substantial compliance by a secured party with subsection (1) of this section constitutes a complete defense to any claim arising under the laws of this state challenging the secured party’s placement of insurance on the real or personal property in which the secured party has a security interest, for the protection of the secured party’s interest in the property.

(3) Nothing contained in this section shall be construed to require any secured party to place or maintain insurance on real or personal property in which the secured party has a security interest, and the secured party shall not be liable to the mortgagor, borrower or purchaser or to any other party as a result of the failure of the secured party to place or maintain such insurance.

(4) The failure of a secured party prior to January 1, 1996, to include in a contract or loan agreement, or in a separate document accompanying the contract or loan agreement, the notice set forth in subsection (1) of this section shall not be admissible in any court or arbitration proceeding or otherwise used to prove that a secured party’s actions with respect to the placement or maintenance of insurance on real or personal property in which the secured party has a security interest are or were unlawful or otherwise improper. A secured party shall not be liable to the mortgagor, borrower or purchaser or to any other party for placing such insurance in accordance with the terms of an otherwise legal contract or loan agreement with the mortgagor, borrower or purchaser entered into prior to January 1, 1996. [1977 c.742 §5; 1995 c.313 §3; 2003 c.363 §13]

Source: Section 746.201 — Depository institution to obtain required property insurance when borrower does not; notice required , https://www.­oregonlegislature.­gov/bills_laws/ors/ors746.­html (accessed May 26, 2025).
ORS § 742.525 — OR Code / Title 56 / Chapter 742 / Section 742.525
742.525 Provider charges
Status: in_force

(1) Except as provided in subsection (2) of this section, a provider shall charge a person who receives personal injury protection benefits or that person’s insurer the lesser of:

(a) An amount that does not exceed the amount the provider charges the general public; or

(b) An amount that does not exceed the fee schedules for medical services published pursuant to ORS 656.248 (Medical service fee schedules) for expenses of medical, hospital, dental, surgical and prosthetic services.

(2) For expenses of hospital services that are subject to the adjusted cost-to-charge ratio specified for a hospital in the hospital fee schedule published pursuant to ORS 656.248 (Medical service fee schedules) , a provider of hospital services shall charge a person who receives personal injury protection benefits or that person’s insurer the greater of:

(a) The amount of the hospital charges multiplied by the adjusted cost-to-charge ratio specified for the hospital; or

(b) Ninety percent of the hospital charges. [2003 c.813 §4; 2005 c.341 §4; 2011 c.707 §1]

Source: Section 742.525 — Provider charges , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 743.358 — OR Code / Title 56 / Chapter 743 / Section 743.358
743.358 Borrowing by certificate holders under group life policy
Status: in_force

(1) An insurer of a group life insurance policy may authorize certificate holders under the policy to borrow upon the policy, subject to the following provisions:

(a) The insurer may require a certificate holder, in order to borrow on the policy, to have been a certificate holder under the policy for a minimum period specified by the insurer.

(b) The insurer may require that no premium on the policy be in default beyond the grace period for payment.

(2) An insurer authorizing a certificate holder under a group life insurance policy may establish a minimum loan amount, but the amount may not exceed $1,000.

(3) An insurer may charge a fixed interest rate not exceeding eight percent per year, or an adjustable interest rate. The policy provision establishing an adjustable interest rate must comply with ORS 743.187 (Maximum interest rate on policy loan) . The exemption from a limitation on interest rates under state law established in ORS 743.187 (Maximum interest rate on policy loan) for individual life insurance policies also applies to interest rates established pursuant to this section.

(4) The loan value of a certificate shall be equal to 90 percent of the cash surrender value of the certificate at the time of the loan, less any existing indebtedness not already deducted, including any unpaid interest. This subsection does not apply to certificates issued under a group policy for which the loan value is established by federal law. [1991 c.182 §9]

Source: Section 743.358 — Borrowing by certificate holders under group life policy , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 744.854 — OR Code / Title 56 / Chapter 744 / Section 744.854
744.854 Kinds of insurance authorized by limited license
Status: in_force

A limited license issued under ORS 744.852 (Limited license for rental companies) authorizes a rental company to offer and sell the following kinds of insurance in connection with the rental of vehicles:

(1) Personal accident insurance covering the risks of travel, including but not limited to accident and health insurance that provides coverage to renters and other occupants of the rental vehicle for accidental death or dismemberment and reimbursement for medical expenses resulting from an accident that occurs during the rental period.

(2) Liability insurance that provides coverage to renters and other authorized drivers of the rental vehicle for liability arising from the operation of the rental vehicle. Liability insurance shall include uninsured and underinsured motorist coverage, insofar as required by state law or rule.

(3) Personal effects insurance that provides coverage to renters and other vehicle occupants for loss of and damage to personal effects during the rental period.

(4) Roadside assistance and emergency sickness insurance. [1999 c.485 §4]

Note: See note under 744.850 (Definitions for ORS 744.850 to 744.858) .

Source: Section 744.854 — Kinds of insurance authorized by limited license , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 743b.012 — OR Code / Title 56 / Chapter 743b / Section 743b.012
743B.012 Requirement to offer all health benefit plans to small employers
Status: in_force

(1) As a condition of transacting business in the small employer health insurance market in this state, a carrier shall offer small employers all of the carrier’s health benefit plans, approved by the Department of Consumer and Business Services for use in the small employer market, for which the small employer is eligible.

(2) A carrier shall issue to a small employer any health benefit plan that is offered by the carrier if the small employer applies for the plan and agrees to make the required premium payments and to satisfy the other provisions of the health benefit plan.

(3) A multiple employer welfare arrangement, professional or trade association or other similar arrangement established or maintained to provide benefits to a particular trade, business, profession or industry or their subsidiaries may not issue coverage to a group or individual that is not in the same trade, business, profession or industry as that covered by the arrangement. The arrangement shall accept all groups and individuals in the same trade, business, profession or industry or their subsidiaries that apply for coverage under the arrangement and that meet the requirements for membership in the arrangement. For purposes of this subsection, the requirements for membership in an arrangement may not include any requirements that relate to the actual or expected health status of the prospective enrollee.

(4) A carrier shall, pursuant to subsection (2) of this section, accept applications from and offer coverage to a small employer group covered under an existing health benefit plan regardless of whether a prospective enrollee is excluded from coverage under the existing plan because of late enrollment. When a carrier accepts an application for a small employer group, the carrier may continue to exclude the prospective enrollee excluded from coverage by the replaced plan until the prospective enrollee would have become eligible for coverage under that replaced plan.

(5) A carrier is not required to accept applications from and offer coverage pursuant to subsection (2) of this section if the department finds that acceptance of an application or applications would endanger the carrier’s ability to fulfill its contractual obligations or result in financial impairment of the carrier.

(6) A carrier shall actively market all health benefit plans that are offered by the carrier to small employers in the geographical areas in which the carrier makes coverage available or provides benefits.

(7) Intentionally left blank —Ed.

(a) Subsection (2) of this section does not require a carrier to offer coverage to or accept applications from:

(A) A small employer if the small employer is not physically located in the carrier’s approved service area;

(B) An employee of a small employer if the employee does not work or reside within the carrier’s approved service areas; or

(C) Small employers located within an area where the carrier reasonably anticipates, and demonstrates to the department, that it will not have the capacity in its network of providers to deliver services adequately to the enrollees of those small employer groups because of its obligations to existing small employer group contract holders and enrollees.

(b) A carrier that does not offer coverage pursuant to paragraph (a)(C) of this subsection may not offer coverage in the applicable service area to new employer groups other than small employers until the carrier resumes enrolling groups of new small employers in the applicable area.

(8) For purposes of ORS 743B.010 (Issuance of group health benefit plan to affiliated group of employers) to 743B.013 (Requirements for small employer health benefit plans) , except as provided in this subsection, carriers that are affiliated carriers or that are eligible to file a consolidated tax return pursuant to ORS 317.715 (Tax return of corporation in affiliated group making consolidated federal return) shall be treated as one carrier and any restrictions or limitations imposed by ORS 743B.010 (Issuance of group health benefit plan to affiliated group of employers) to 743B.013 (Requirements for small employer health benefit plans) apply as if all health benefit plans delivered or issued for delivery to small employers in this state by the affiliated carriers were issued by one carrier. However, any insurance company or health maintenance organization that is an affiliate of a health care service contractor located in this state, or any health maintenance organization located in this state that is an affiliate of an insurance company or health care service contractor, may treat the health maintenance organization as a separate carrier and each health maintenance organization that operates only one health maintenance organization in a service area in this state may be considered a separate carrier.

(9) A carrier that elects to discontinue offering all of its health benefit plans to small employers under ORS 743B.013 (Requirements for small employer health benefit plans) (3)(e) or elects to discontinue renewing all such plans is prohibited from offering health benefit plans to small employers in this state for a period of five years from:

(a) The date of notice to the department pursuant to ORS 743B.013 (Requirements for small employer health benefit plans) (3)(e); or

(b) If notice is not provided under paragraph (a) of this subsection, the date on which the department provides notice to the carrier that the department has determined that the carrier has effectively discontinued offering health benefit plans to small employers in this state.

(10) The department may, in accordance with ORS 743B.129 (Shortening period of exclusion following discontinued offering) , shorten the period of prohibition described in subsection (9) of this section if necessary to ensure, in all geographic areas of this state, that:

(a) A competitive health insurance market exists;

(b) Small employers have a reasonable number of health insurance options available to them; and

(c) Consumers who purchase insurance are protected. [Formerly 743.736; 2017 c.206 §4]

Source: Section 743B.012 — Requirement to offer all health benefit plans to small employers; offering of plan by carriers; exceptions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743B.­html (accessed May 26, 2025).
ORS § 743b.010 — OR Code / Title 56 / Chapter 743b / Section 743b.010
743B.010 Issuance of group health benefit plan to affiliated group of employers
Status: in_force

(1) If an affiliated group of employers is treated as a single employer under section 414(b), (c), (m) or (o) of the Internal Revenue Code of 1986, a carrier may issue a single group health benefit plan to the affiliated group on the basis of the number of employees in the affiliated group if the group requests such coverage.

(2) Subsequent to the issuance of a health benefit plan to a small employer, other than a plan issued through the health insurance exchange, a carrier shall determine annually the number of employees of the employer for purposes of determining the employer’s ongoing eligibility as a small employer.

(3) Intentionally left blank —Ed.

(a) ORS 743B.010 (Issuance of group health benefit plan to affiliated group of employers) to 743B.013 (Requirements for small employer health benefit plans) shall continue to apply to a health benefit plan issued outside of the exchange to a small employer until the plan anniversary date following the date the employer no longer meets the definition of a small employer.

(b) ORS 743B.010 (Issuance of group health benefit plan to affiliated group of employers) to 743B.013 (Requirements for small employer health benefit plans) shall continue to apply to an employer that receives coverage through the exchange until the employer no longer receives coverage through the exchange and is no longer a small employer. [Formerly 743.733]

Source: Section 743B.010 — Issuance of group health benefit plan to affiliated group of employers; determination of number of employees for purpose of determining eligibility as small employer , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743B.­html (accessed May 26, 2025).
ORS § 743.536 — OR Code / Title 56 / Chapter 743 / Section 743.536
743.536 “Blanket health insurance” defined
Status: in_force

“Blanket health insurance” means that form of a health insurance covering groups of persons defined in this section and issued on one of the following bases:

(1) Under a policy issued to a common carrier or to an operator, owner or lessee of a means of transportation, who shall be deemed the policyholder, insuring a group of persons who may become passengers and which group is defined by reference to their travel status on such common carrier or means of transportation.

(2) Under a policy issued to an employer, who shall be deemed the policyholder, insuring any group of employees, dependents or guests, defined by reference to specified hazards incident to an activity or activities or operations of the policyholder.

(3) Under a policy issued to a college, school or other institution of learning, a school district or districts, or school jurisdictional unit, or to the head, principal or governing board of any such educational unit, who or which shall be deemed the policyholder, insuring students, teachers or employees.

(4) Under a policy issued to a religious, charitable, recreational, educational, or civic organization, or branch thereof, which shall be deemed the policyholder, insuring any group of members or participants defined by reference to specified hazards incident to an activity or activities or operations sponsored or supervised by such policyholder.

(5) Under a policy issued to a sports team, camp or sponsor thereof, who shall be deemed the policyholder, insuring members, campers, employees, officials or supervisors.

(6) Under a policy issued to a volunteer fire department, first aid, civil defense, or other such volunteer organization, which shall be deemed the policyholder, insuring any group of members or participants defined by reference to specified hazards incident to an activity or activities or operations sponsored or supervised by such policyholder.

(7) Under a policy issued to a newspaper or other publisher, which shall be deemed the policyholder, insuring its carriers.

(8) Under a policy issued to an association, including a labor union, which has a constitution and bylaws and which has been organized and is maintained in good faith for purposes other than that of obtaining insurance, which shall be deemed the policyholder, insuring any group of members or participants defined by reference to specified hazards incident to an activity or activities or operations sponsored or supervised by such policyholder.

(9) Under a policy issued to cover any other risk or class of risks which, in the discretion of the Director of the Department of Consumer and Business Services, may be properly eligible for blanket health insurance. The discretion of the director may be exercised on an individual risk basis or class of risks basis, or both. [Formerly 743.534]

Source: Section 743.536 — “Blanket health insurance” defined , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 743.408 — OR Code / Title 56 / Chapter 743 / Section 743.408
743.408 Mandatory provisions
Status: in_force

Except as provided in ORS 742.021 (Standard provisions in general) , a health insurance policy shall contain the provisions set forth in ORS 743.411 (Entire contract) to 743.444 (Change of beneficiary) . The provisions shall be preceded individually by the caption appearing in the sections or, at the option of the insurer, by the appropriate individual or group captions or subcaptions as the Director of the Department of Consumer and Business Services may approve. [1967 c.359 §428; 2011 c.9 §92]

Source: Section 743.408 — Mandatory provisions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 733.550 — OR Code / Title 56 / Chapter 733 / Section 733.550
733.550 “Amply secured obligation” defined
Status: in_force

As used in ORS 733.510 (Investments of insurers) to 733.780 (Prohibited investments) , “amply secured obligation” means an obligation which is not in default and as to which no default is imminent, and which satisfies the requirements of one or more of the following subsections:

(1) An obligation of a sovereign or political subdivision thereof, if it is issued, assumed or guaranteed by the governmental unit involved and is payable either from:

(a) Taxes levied or which may be levied by such governmental unit; or

(b) Adequate special revenues pledged or otherwise appropriated or required by law to be used for the purpose of such payment, provided the law authorizing the issuance of the obligation requires that adequate rates be fixed, maintained and collected at all times so as to produce sufficient revenue or earnings to pay all operating expenses, maintenance charges, and the principal, interest and dividends on the obligation. An obligation payable solely out of special assessments on real property benefited by local improvements shall not be considered amply secured unless the total amount so payable is less than 50 percent of the market value of the real property (including any improvements thereon) and constitutes a lien on such property.

(2) An obligation issued, assumed or guaranteed by a corporation, if the corporation is solvent, has not been in default on any of its obligations during the preceding three years, and if the obligation is secured by the pledge of property the market value of which exceeds the amount of the obligation by 25 percent or more. Obligations which are the subject of ORS 733.580 (Investment of required capitalization) and 733.600 (Investment in mortgage loans) are not included within the provisions of this subsection.

(3) An obligation found to be amply secured under regulations duly promulgated by the Director of the Department of Consumer and Business Services. In making such regulations the director shall give consideration to regulations pertaining to amply secured obligations issued from time to time by the National Association of Insurance Commissioners, and shall consider the financial condition of the issuing, assuming or guaranteeing corporation as well as the existence or absence of any pledge of property as security. [1967 c.359 §233]

Source: Section 733.550 — “Amply secured obligation” defined , https://www.­oregonlegislature.­gov/bills_laws/ors/ors733.­html (accessed May 26, 2025).
ORS § 743b.475 — OR Code / Title 56 / Chapter 743b / Section 743b.475
743B.475 Guidelines for coordination of benefits
Status: repealed

The Director of the Department of Consumer and Business Services shall by rule establish guidelines for the coordination of benefits for individual and group health insurance, including:

(1) The procedures by which persons insured under the policies are to be made aware of the existence of a coordination of benefits provision;

(2) The benefits which may be subject to such a provision;

(3) The effect of such a provision on the benefits provided;

(4) Establishment of the order of benefit determination; and

(5) Reasonable claim administration procedures to expedite claim payments. [Formerly 743.552]

Note: Sections 1, 3, 4 and 5, chapter 575, Oregon Laws 2015, provide:

Sec. 1. (1) As used in this section:

(a) “Carrier” means an insurer that offers a health benefit plan, as defined in ORS 743B.005 (Definitions) .

(b) “Prominent carrier” means:

(A) A carrier with annual premium income at a threshold, of no less than $50 million, established by the Department of Consumer and Business Services by rule.

(B) The Public Employees’ Benefit Board.

(C) The Oregon Educators Benefit Board.

(2) All prominent carriers shall, and carriers other than prominent carriers may, report to the Department of Consumer and Business Services, no later than October 1 of each year, the proportion of the carrier’s total medical expenses that are allocated to primary care.

(3) The department shall share with the Oregon Health Authority the information reported so that the authority may prepare the evaluation and report described in section 2, chapter 575, Oregon Laws 2015.

(4) The department, in collaboration with the authority, shall adopt rules prescribing the primary care services for which costs must be reported under subsection (2) of this section. [2015 c.575 §1; 2017 c.489 §12]

Sec. 3. No later than February 1 of each year, the Oregon Health Authority and the Department of Consumer and Business Services shall report to the Legislative Assembly, in the manner provided in ORS 192.245 (Form of report to legislature) :

(1) The percentage of the medical expenses of carriers, coordinated care organizations, the Public Employees’ Benefit Board and the Oregon Educators Benefit Board that is allocated to primary care; and

(2) How carriers, coordinated care organizations, the Public Employees’ Benefit Board and the Oregon Educators Benefit Board pay for primary care. [2015 c.575 §3; 2016 c.26 §7]

Sec. 4. (1) The Legislative Assembly declares that collaboration among insurers, purchasers and providers of health care to coordinate service delivery systems and develop innovative reimbursement methods in support of integrated and coordinated health care delivery is in the best interest of the public. The Legislative Assembly therefore declares its intent to exempt from state antitrust laws, and to provide immunity from federal antitrust laws through the state action doctrine, the activities specified in section 2 (2) of this 2015 Act, of the participants in the primary care payment reform collaborative, that might otherwise be constrained by such laws.

(2) The Director of the Oregon Health Authority or the director’s designee shall engage in state supervision of the primary care payment reform collaborative to ensure that the activities and discussions of the participants in the collaborative are limited to the activities described in section 2 (2) of this 2015 Act.

(3) Groups that include, but are not limited to, health insurance companies, health care centers, hospitals, health service organizations, employers, health care providers, health care facilities, state and local governmental entities and consumers may meet to facilitate the development, implementation and operation of the Primary Care Transformation Initiative in accordance with section 2 of this 2015 Act.

(4) The Oregon Health Authority may conduct a survey of the entities and individuals specified in subsection (3) of this section to assist in the evaluation of the Primary Care Transformation Initiative.

(5) A survey or meeting under subsection (3) or (4) of this section is not a violation of state antitrust laws and shall be considered state action for purposes of federal antitrust laws through the state action doctrine. [2015 c.575 §4]

Sec. 5. (1) Sections 1 to 4, chapter 575, Oregon Laws 2015, are repealed on December 31, 2027.

(2) Section 3, chapter 489, Oregon Laws 2017, is repealed on December 31, 2027.

(3) The amendments to section 8 of this 2022 Act [ 743B.221 (Assignment of beneficiaries to primary care providers) ] by section 14 of this 2022 Act become operative on December 31, 2027. [2015 c.575 §5; 2016 c.26 §8; 2017 c.489 §19; 2022 c.37 §15]

Source: Section 743B.475 — Guidelines for coordination of benefits; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743B.­html (accessed May 26, 2025).
ORS § 744.104 — OR Code / Title 56 / Chapter 744 / Section 744.104
744.104 Travel insurance through travel retailers
Status: in_force

(1) Notwithstanding the provisions of ORS 744.053 (Requirements to be licensed as insurance producer for class of insurance) , a travel retailer may offer and disseminate travel insurance on behalf of and at the direction of a limited travel insurance producer and may receive compensation for doing so.

(2) A limited travel insurance producer may direct a travel retailer to offer and disseminate travel insurance pursuant to subsection (1) of this section only if the following conditions are met:

(a) The name, contact information and license number of the limited travel insurance producer are clearly identified on marketing materials and fulfillment packages distributed by the travel retailer to customers;

(b) The limited travel insurance producer, at the time of licensure and thereafter, establishes and maintains a register, in a form approved by the Director of the Department of Consumer and Business Services, that contains the following information for each travel retailer that offers and disseminates travel insurance at the direction of the limited travel insurance producer:

(A) The name, address, contact information and federal employer identification number of the travel retailer;

(B) The name, address and contact information of an officer or person who directs or controls the operations of the travel retailer; and

(C) An affidavit executed under oath by the travel retailer stating that the travel retailer is not guilty of any offense under 18 U.S.C. 1033;

(c) The limited travel insurance producer submits the register described in paragraph (b) of this subsection to the director within 30 days of a request by the director;

(d) The limited travel insurance producer designates an employee who is a limited travel insurance producer as responsible for ensuring the compliance of the limited travel insurance producer with the laws, rules and regulations of this state;

(e) The employee designated in paragraph (d) of this subsection, as well as the president, secretary, treasurer and any other person who directs or controls the insurance operations of the limited travel insurance producer, all comply with fingerprinting requirements established by the director;

(f) The limited travel insurance producer does not owe any outstanding fees relating to insurance licensing; and

(g) Each employee of the travel retailer whose duties include offering and disseminating travel insurance receives a program of instruction or training that contains instructions on the types of insurance offered, ethical sales practices, required disclosures to customers and any other content that the director may prescribe.

(3) A travel retailer that offers and disseminates travel insurance shall make available to customers brochures or other written materials that:

(a) Provide the identity and contact information of the insurer and the limited travel insurance producer;

(b) Explain that the purchase of travel insurance is not required in order to purchase any other product or service from the travel retailer; and

(c) Explain that a travel retailer that is not a limited travel insurance producer is not qualified or authorized to answer technical questions about the terms and conditions of the travel insurance offered by the travel retailer or to evaluate the adequacy of a customer’s existing insurance coverage.

(4) A travel retailer that is not a limited travel insurance producer may not:

(a) Evaluate or interpret the technical terms, benefits or conditions of travel insurance offered by the travel retailer;

(b) Evaluate or advise concerning a prospective purchaser’s existing insurance coverage; or

(c) Hold itself out as an insurance expert or a limited travel insurance producer. [2015 c.675 §3]

Source: Section 744.104 — Travel insurance through travel retailers; direction by limited travel insurance producers; requirements and restrictions; designated employees , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 734.180 — OR Code / Title 56 / Chapter 734 / Section 734.180
734.180 Order of liquidation of domestic insurers
Status: in_force

(1) An order to liquidate the business of a domestic insurer shall direct the Director of the Department of Consumer and Business Services forthwith to take possession of the property of the insurer, to liquidate its business, to deal with the insurer’s property and business in the name of the director or in the name of the insurer as the court may direct, and to give notice to all creditors who may have claims against the insurer to present such claims.

(2) The director may apply under this chapter for an order dissolving the corporate existence of a domestic insurer:

(a) Upon the application of the director for an order of liquidation of such insurer, or at any time after such order has been granted; or

(b) Upon the grounds specified in ORS 734.170 (Grounds for liquidation of domestic insurers) (3), regardless of whether an order of liquidation is sought or has been obtained. [Formerly 738.470]

Source: Section 734.180 — Order of liquidation of domestic insurers , https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html (accessed May 26, 2025).
ORS § 743.215 — OR Code / Title 56 / Chapter 743 / Section 743.215
743.215 Calculation of adjusted premiums
Status: in_force

(1) This section applies to all life insurance policies issued on or after the operative date defined in this subsection for the issuing insurer. After January 1, 1982, any insurer may file with the Director of the Department of Consumer and Business Services a written notice of its election to comply with the provisions of this section with regard to any number of plans of insurance after a specified date before January 1, 1989. The specified date shall be the operative date of this subsection for the plan or plans, but if an insurer elects to make this subsection operative before January 1, 1989, for fewer than all plans, the insurer must comply with rules adopted by the director. There is no limit to the number of times that an insurer may make the election. If an insurer makes no such election, the operative date of this section for the insurer shall be January 1, 1989.

(2) Except as provided in subsection (8) of this section, the adjusted premiums referred to in ORS 743.210 (Determination of cash surrender values) for any life insurance policy to which this section applies shall be calculated as provided in this subsection, on an annual basis, as a uniform percentage of the respective premiums specified in the policy for each policy year, excluding amounts payable as extra premiums to cover impairments or special hazards and excluding any uniform annual contract charge or policy fee specified in the policy statement of the method to be used in calculating the cash surrender values and paid-up nonforfeiture benefits. This percentage shall be such that the present value, at the date of issue of the policy, of all such adjusted premiums shall equal the sum of:

(a) The present value at the policy issue date of the future guaranteed benefits provided for by the policy;

(b) One percent of either the amount of insurance, if the insurance is uniform in amount, or the average of the amounts of insurance at the beginning of each of the first 10 policy years; and

(c) One hundred twenty-five percent of the nonforfeiture net level premium as defined in subsection (3) of this section. For this purpose, any excess of the nonforfeiture net level premium over four percent of such uniform or average amount of insurance shall be disregarded.

(3) The nonforfeiture net level premium referred to in subsection (2) of this section shall equal the present value, at the date of issue of the policy, of the guaranteed benefits provided for by the policy divided by the present value, at the date of issue of the policy, of an annuity of one per annum payable on the date of issue and on each anniversary of the policy on which a premium falls due.

(4) In the case of policies which provide, on a basis guaranteed in the policy, for unscheduled changes in benefits or premiums, or which provide an option for changes in benefits or premiums other than by change to a new policy, the adjusted premiums and present values shall initially be calculated on the assumption that future benefits and premiums do not change from those stipulated by the policy at the date of issue. At the time of any such change in the benefits or premiums the future adjusted premiums, nonforfeiture net level premiums and present values shall be recalculated as provided in subsection (5) of this section on the assumption that future benefits and premiums do not change from those stipulated by the policy immediately after the change.

(5) Except as otherwise provided in subsection (8) of this section, the recalculated future adjusted premiums referred to in subsection (4) of this section shall be calculated as provided in this subsection, on an annual basis, as a uniform percentage of the respective future premiums specified in the policy for each policy year, excluding amounts payable as extra premiums to cover impairments and special hazards and excluding any uniform annual contract charge or policy fee specified in the policy statement of the method to be used in calculating the cash surrender values and paid-up nonforfeiture benefits. This percentage shall be such that the present value, at the date of change to the newly defined benefits or premiums, of all such future adjusted premiums shall equal A plus B minus C, where these amounts are defined as follows:

(a) “A” equals the present value, as of the date of change, of the future guaranteed benefits provided for by the policy.

(b) “B” equals the additional expense allowance, if any, for the policy, as defined in subsection (6) of this section.

(c) “C” equals the cash surrender value under the policy, if any, or present value of any paid-up nonforfeiture benefit under the policy, as of the date of change.

(6) The additional expense allowance at the date of the change to the newly defined benefits or premiums, as referred to in subsection (5) of this section, shall equal the sum of:

(a) One percent of the excess, if positive, of the average of the amounts of insurance at the beginning of each of the first 10 policy years subsequent to the change, over the average of the amounts of insurance, as defined before the change, at the beginning of each of the first 10 policy years subsequent to the last previous change or the policy issue date if there has been no change.

(b) One hundred twenty-five percent of the change, if positive, in the amount of the nonforfeiture net level premium from the amount applicable prior to the change in policy benefits or premiums to the amount of the recalculated nonforfeiture net level premium determined from subsection (7) of this section as of the date of the change in policy benefits or premiums.

(7) The recalculated nonforfeiture net level premium referred to in subsection (6) of this section shall equal Y divided by Z, where these amounts are defined as follows:

(a) “Y” equals the sum of:

(A) The nonforfeiture net level premium applicable prior to the change times the present value at the date of change of an annuity of one per annum payable on each anniversary of the policy, on or subsequent to the date of the change, on which a premium would have fallen due had the change not occurred; and

(B) The present value at the date of change of the increase in future guaranteed benefits provided for by the policy.

(b) “Z” equals the present value at the date of change of an annuity of one per annum payable on each anniversary of the policy, on or subsequent to the date of change, on which a premium falls due.

(8) Notwithstanding any other provisions of this section, the provisions of this subsection shall apply in the case of a policy issued on a substandard basis which provides reduced graded amounts of insurance determined so that, in each policy year, the policy has the same tabular mortality cost as for an otherwise similar policy of a higher nongraded amount or amounts of insurance issued on the standard basis. Adjusted premiums and present values for a policy on such a substandard basis may be calculated as if the policy were issued to provide such a higher nongraded amount or amounts of insurance on the standard basis.

(9) Except as provided in subsection (10) of this section, all adjusted premiums and present values referred to in the Standard Nonforfeiture Law for Life Insurance shall, for all policies of life insurance to which this section applies, be calculated on the mortality and interest bases as follows:

(a) For ordinary life insurance mortality:

(A) The Commissioners 1980 Standard Ordinary Mortality Table shall be used; or

(B) At the option 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 may be used instead of such table without Ten-Year Select Mortality Factors.

(b) For industrial life insurance mortality, the Commissioners 1961 Standard Industrial Mortality Table shall be used.

(c) For all policies issued in a particular calendar year, an interest rate shall be used which does not exceed the nonforfeiture interest rate, as defined in subsection (11) of this section, for policies issued in that year.

(10) The following provisions shall also apply, for policies to which this section applies, to the calculation of premiums and values referred to in the Standard Nonforfeiture Law for Life Insurance:

(a) At the option of the insurer, such calculations for all policies issued in a particular calendar year may be made on the basis of an interest rate which does not exceed the nonforfeiture interest rate, as defined in subsection (11) of this section, for policies issued in the last preceding calendar year.

(b) Under any paid-up nonforfeiture benefit, including any paid-up dividend additions, any cash surrender value available, whether or not required by ORS 743.207 (Required provisions relating to nonforfeiture) , shall be calculated on the basis of the mortality table and interest rate used in determining the amount of such paid-up nonforfeiture benefit and paid-up dividend additions.

(c) An insurer shall calculate the amount of any guaranteed paid-up nonforfeiture benefit, including any paid-up additions, on the basis of an interest rate no lower than that specified in the policy for calculating cash surrender values.

(d) In calculating the present value of any paid-up term insurance with accompanying pure endowment, if any, offered as a nonforfeiture benefit, the rates of mortality assumed may be not more than those shown in the Commissioners 1980 Extended Term Insurance Table for policies of ordinary life insurance, and not more than those shown in the Commissioners 1961 Industrial Extended Term Insurance Table for policies of industrial life insurance.

(e) For insurance issued on a substandard basis, the calculation of premiums and values may be based on appropriate modifications of the mortality tables referred to in subsection (9) of this section and in this subsection.

(f) Any ordinary life mortality tables adopted after 1980 by the National Association of Insurance Commissioners that are approved under rules issued by the director for use in determining the minimum nonforfeiture standard may be substituted for the Commissioners 1980 Standard Ordinary Mortality Table with or without Ten-Year Select Mortality Factors, or for the Commissioners 1980 Extended Term Insurance Table.

(g) Any industrial life mortality tables adopted after 1980 by the National Association of Insurance Commissioners that are approved under rules issued by the director for use in determining the minimum nonforfeiture standard may be substituted for the Commissioners 1961 Standard Industrial Mortality Table or the Commissioners 1961 Industrial Extended Term Insurance Table.

(11) The nonforfeiture interest rate for any policy issued in a particular calendar year shall equal 125 percent of the calendar year statutory valuation interest rate for such policy as defined in the Standard Valuation Law, rounded to the nearer one-quarter of one percent.

(12) Notwithstanding any other provision in this chapter or ORS chapter 743A, for any previously approved policy form, any refiling of nonforfeiture values or their methods of computation which involves only a change in the interest rate or mortality table used to compute nonforfeiture values shall not of itself require refiling of any other provisions of that policy form. [1981 c.609 §17; 1983 c.282 §1]

Source: Section 743.215 — Calculation of adjusted premiums , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 743b.020 — OR Code / Title 56 / Chapter 743b / Section 743b.020
743B.020 Eligible employees and small employers
Status: in_force

(1) The Department of Consumer and Business Services shall adopt by rule a method for determining whether:

(a) An employee is an eligible employee as defined in ORS 743B.005 (Definitions) ; and

(b) An employer is a small employer as defined in ORS 743B.005 (Definitions) .

(2) The method adopted by the department under subsection (1) of this section must be consistent with corresponding federal requirements for the Small Business Health Options Program as defined in ORS 741.300 (Definitions) . [2015 c.515 §3a]

Note: 743B.020 (Eligible employees and small employers) 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.020 — Eligible employees and small employers; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743B.­html (accessed May 26, 2025).
ORS § 733.304 — OR Code / Title 56 / Chapter 733 / Section 733.304
733.304 Opinion of actuary
Status: in_force

(1) Each insurer transacting life insurance in this state shall submit annually to the Director of the Department of Consumer and Business Services the opinion of a qualified actuary as provided in this section. The following provisions apply with respect to opinions required under this subsection:

(a) The opinion must state whether, in the opinion of the qualified actuary, the reserves and related actuarial items held in support of the policies and contracts specified by the director by rule are computed appropriately, are based on assumptions that satisfy contractual provisions, are consistent with prior reported amounts and comply with applicable laws of this state. The director by rule shall establish the specific requirements for the opinion and may require any other items that the director determines to be necessary to its scope.

(b) The opinion shall be submitted with the annual statement reflecting the valuation of the reserve liabilities for each year.

(c) The opinion shall apply to all business in force, including individual and group health insurance plans, in form and substance acceptable to the director as specified by rule.

(d) The director by rule:

(A) Shall adopt standards on which actuarial opinions under this subsection must be based. In adopting the standards, the director shall consider standards established from time to time by the Actuarial Standards Board of the American Academy of Actuaries.

(B) Shall define “qualified actuary” for purposes of this subsection, by establishing qualifications required of an actuary for the purpose of giving the opinions. In establishing the definition, the director shall consider standards established from time to time by the American Academy of Actuaries.

(C) May also adopt any other rules needed for carrying out this subsection.

(e) In the case of an opinion required to be submitted by a foreign or alien insurer, the director may accept the opinion filed by the insurer with the insurance supervisory official of another state if the director determines that the opinion reasonably meets the requirements applicable to a domestic insurer.

(f) Except in cases of fraud or willful misconduct, a qualified actuary shall not be liable for damages to any person other than the insurer or the director for any act, error, omission, decision or conduct with respect to the actuary’s opinion.

(g) For each opinion submitted under this subsection, a memorandum shall be prepared supporting the opinion. The memorandum must conform in form and substance to requirements established by the director by rule.

(h) If an insurer fails to provide a supporting memorandum within the period specified by rule or if the director determines that the supporting memorandum provided by the insurer fails to meet the standards prescribed by rule or is otherwise unacceptable to the director, the director may engage a qualified actuary at the expense of the insurer to review the opinion and the basis for the opinion and prepare any supporting memorandum that is required by the director.

(i) Except as provided in this paragraph, a memorandum in the possession or control of the director that is in support of an actuarial opinion, and any other material provided by the insurer to the director in connection with the memorandum, is confidential as provided in ORS 705.137 (Information that is confidential or not subject to disclosure) . Notwithstanding ORS 705.137 (Information that is confidential or not subject to disclosure) , such a memorandum and other materials are subject to subpoena only for the purpose of defending an action seeking damages from the actuary submitting the memorandum by reason of any action required by this section or by rules adopted under this section. Once any portion of the confidential memorandum is cited by the insurer in its marketing or is cited before any governmental agency other than a state insurance department or is released by the insurer to the news media, all portions of the confidential memorandum shall be no longer confidential. In addition to the uses and disclosures allowed under ORS 705.137 (Information that is confidential or not subject to disclosure) , a memorandum or other material may otherwise be released by the director:

(A) With the written consent of the insurer; or

(B) To the American Academy of Actuaries upon request thereof, when the request states that the memorandum or other material is required for the purpose of professional disciplinary proceedings and sets forth procedures satisfactory to the director for preserving the confidentiality of the memorandum or other material.

(j) Grounds for disciplinary action by the director against the insurer or the qualified actuary shall be defined by rule.

(2) Unless exempted by the director by rule, each insurer transacting life insurance in this state shall include in each opinion required by subsection (1) of this section an opinion by the same actuary who prepared the opinion required by subsection (1) of this section. The following provisions apply with respect to the opinion:

(a) The actuary shall state the actuary’s opinion as to whether the reserves and related actuarial items held in support of the policies and contracts specified by the director by rule, when considered in light of the assets held by the insurer with respect to the reserves and related actuarial items, including but not limited to the investment earnings on the assets and the considerations anticipated to be received and retained under the policies and contracts, make adequate provision for the insurer’s obligations under the policies and contracts, including but not limited to the benefits under and expenses associated with the policies and contracts.

(b) The director may provide by rule for a transition period for establishing any higher reserves that the actuary may deem necessary in order to render the opinion required under this subsection. [1991 c.401 §19; 2001 c.377 §12; 2015 c.547 §23]

Source: Section 733.304 — Opinion of actuary; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors733.­html (accessed May 26, 2025).
ORS § 742.058 — OR Code / Title 56 / Chapter 742 / Section 742.058
742.058 Return of premium on destruction of property
Status: in_force

(1) In the event of the total destruction of any insured property, if the total amount of loss or agreed loss is less than the total amount insured thereon, the insurer or insurers shall return to the insured the portion of insurance premium paid for the excess of the insurance over the loss. This amount shall be paid at the same time and in the same manner as the loss.

(2) This section does not apply to insurance on stocks of merchandise or property of fluctuating values where the reduced rate percentage clause is made a part of the policy. [Formerly 744.090 and then 743.111]

Source: Section 742.058 — Return of premium on destruction of property , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 742.277 — OR Code / Title 56 / Chapter 742 / Section 742.277
742.277 Notice of cancellation, nonrenewal or rate change related to wildfire risk
Status: in_force

(1) As used in this section:

(a) “Homeowner insurance” has the meaning given that term in ORS 746.600 (Definitions for ORS 746.600 to 746.690) .

(b) “Wildfire risk mitigation action” means an action that reduces wildfire risk to property, including:

(A) A property-level action, such as establishing defensible space, hardening a building or receiving certification from the Insurance Institute for Business and Home Safety for a Wildfire Prepared Home or a similar entity.

(B) A community-level action, such as receiving recognition as a Firewise USA Site in Good Standing or recognition from a similar entity or participating in community risk reduction programs established by the State Fire Marshal.

(2) An insurer that cancels or decides not to renew a homeowner insurance policy for a property, or that increases a premium for a homeowner insurance policy for a property, for a reason that is not nonpayment of a premium and that is materially related to wildfire risk, shall send a notice of the cancellation, decision not to renew or premium increase to the insured that describes:

(a) Any property-specific characteristics related to wildfire risk that resulted in the cancellation, decision not to renew or premium increase.

(b) Wildfire risk mitigation actions the insured could undertake to improve the insurability of the property, if there are any.

(c) If the insurer used wildfire risk scores or classifications to assess the property, the following information:

(A) In plain language, a description of how wildfire risk scores and classifications are determined, including a description of any general variables the insurer considers.

(B) The range of wildfire risk scores or classifications that could potentially be assigned to a property.

(C) The relative position of the wildfire risk score or classification assigned to the property.

(D) Impacts, if there are any, that wildfire risk mitigation actions could have on a wildfire risk score or classification assigned to the property.

(d) General information about factors the insurer considers in order to classify, measure or otherwise determine the wildfire risk to a property.

(e) Any other information specified by rule by the Department of Consumer and Business Services.

(3) In addition to the requirements of subsection (2) of this section, a notice for a premium increase that is materially related to wildfire risk must describe:

(a) What wildfire risk mitigation actions the insured could undertake, if any, that would result in a discount, incentive or other premium adjustment.

(b) The amount of the potential discount, incentive or other premium adjustment. [2023 c.67 §1]

Note: 742.277 (Notice of cancellation, nonrenewal or rate change related to wildfire risk) and 742.278 (Prohibition on uses of map of wildfire risk or exposure) were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 742 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 742.277 — Notice of cancellation, nonrenewal or rate change related to wildfire risk; risks and remedies; additional requirements; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 744.374 — OR Code / Title 56 / Chapter 744 / Section 744.374
744.374 Enforcement of life settlement contract provisions
Status: in_force

(1) A person may not knowingly or intentionally interfere with the enforcement of 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) or investigations of suspected or actual violations 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) .

(2) A person in the business of life settlements may not knowingly or intentionally permit any person convicted of a felony involving dishonesty or breach of trust to participate in the business of life settlements.

(3) Life settlements contracts and purchase agreement forms and applications for life settlements, regardless of the form of transmission, must contain the following statement or a substantially similar statement: “Any person who knowingly presents false information in this application is guilty of a crime and may be subject to fines and confinement in prison.”

(4) The lack of a statement as required in subsection (3) of this section does not constitute a defense in any investigation or prosecution for an act violating any provision 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) .

(5) Any person engaged in the business of life settlements having knowledge or a reasonable suspicion that a fraudulent life settlement act is being, will be or has been committed must provide to the Director of the Department of Consumer and Business Services information as required by, and in a manner prescribed by, the director.

(6) Any other person having knowledge or a reasonable belief that a fraudulent life settlement act is being, will be or has been committed may provide to the director the information required by, and in a manner prescribed by, the director.

(7) Intentionally left blank —Ed.

(a) No civil liability is imposed on and no cause of action arises from a person’s furnishing information concerning suspected, anticipated or completed fraudulent life settlement acts or suspected or completed fraudulent insurance acts, if the information is provided to or received from:

(A) The director or the director’s employees, agents or representatives;

(B) Federal, state or local law enforcement or regulatory officials or their employees, agents or representatives;

(C) A person involved in the prevention and detection of fraudulent life settlement acts or that person’s agents, employees or representatives;

(D) The National Association of Insurance Commissioners, the Financial Industry Regulatory Authority or the North American Securities Administrators Association, or their employees, agents or representatives, or any other regulatory body overseeing life insurance, life settlements, securities or investment fraud; or

(E) The life insurer that issued the life insurance policy covering the life of the insured.

(b) Paragraph (a) of this subsection shall not apply to statements made with actual malice. In an action brought against a person for filing a report or furnishing other information concerning a fraudulent life settlement act, the party bringing the action must plead specifically any allegation that paragraph (a) of this subsection does not apply because the person filing the report or furnishing the information did so with actual malice.

(c) A person furnishing information as identified in paragraph (a) of this subsection is entitled to an award of attorney fees and costs if the person is the prevailing party in a civil cause of action for libel, slander or any other relevant tort arising out of activities in carrying out 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) and the party bringing the action was not substantially justified in doing so. For purposes of this paragraph, a proceeding is “substantially justified” if it had a reasonable basis in law or fact at the time that it was initiated. However, such an award does not apply to a person furnishing information concerning the person’s own fraudulent life settlement acts.

(d) This section does not abrogate or modify common law or statutory privileges or immunities enjoyed by a person described in paragraph (a) of this subsection.

(8) The documents and evidence obtained by the director in an investigation of suspected or actual fraudulent life settlement acts are privileged and confidential under ORS 705.137 (Information that is confidential or not subject to disclosure) .

(9) This section does not:

(a) Preempt the authority or relieve the duty of other law enforcement or regulatory agencies to investigate, examine and prosecute suspected violations of law;

(b) Prevent or prohibit a person from disclosing voluntarily information concerning life settlement fraud to a law enforcement or regulatory agency other than the Department of Consumer and Business Services; or

(c) Limit the powers granted elsewhere by the laws of this state to the director or any other state department or agency to investigate and examine possible violations of law and to take appropriate action against wrongdoers.

(10) Intentionally left blank —Ed.

(a) Life settlement providers and life settlement brokers must have in place antifraud initiatives reasonably calculated to detect, prosecute and prevent fraudulent life settlement acts. At the discretion of the director, the director may order, or a licensee may request and the director may grant, such modifications of the required initiatives described in paragraph (b) of this subsection as necessary to ensure an effective antifraud program. The modifications may be more or less restrictive than the required initiatives as long as the modifications may reasonably be expected to accomplish the purpose of this section.

(b) Antifraud initiatives must include:

(A) Fraud investigators, who may be life settlement provider or life settlement broker employees or independent contractors; and

(B) An antifraud plan, which must be submitted to the director. The antifraud plan must include, but is not limited to:

(i) A description of the procedures for detecting and investigating possible fraudulent life settlement acts and procedures for resolving material inconsistencies between medical records and insurance applications;

(ii) A description of the procedures for reporting possible fraudulent life settlement acts to the director;

(iii) A description of the plan for antifraud education and training of underwriters and other personnel; and

(iv) A description or chart outlining the organizational arrangement of the antifraud personnel who are responsible for investigating and reporting possible fraudulent life settlement acts and investigating unresolved material inconsistencies between medical records and insurance applications.

(c) Antifraud plans submitted to the director are privileged and confidential under ORS 705.137 (Information that is confidential or not subject to disclosure) . [2009 c.711 §17]

Source: Section 744.374 — Enforcement of life settlement contract provisions; reporting of violations; required antifraud initiatives , https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html (accessed May 26, 2025).
ORS § 746.320 — OR Code / Title 56 / Chapter 746 / Section 746.320
746.320 Service of process equivalent to personal service on unauthorized foreign or alien insurer
Status: in_force

(1) When an unauthorized insurer does any of the acts specified in subsection (2) of this section in this state, by mail or otherwise, the doing of such acts shall constitute an appointment by such insurer of the Director of the Department of Consumer and Business Services, and the successor in office, as its lawful attorney upon whom all process may be served in any action begun by or on behalf of an insured or beneficiary and arising out of policies of insurance between the insurer and persons residing or authorized to do business in this state. Subject to subsection (4) of this section, the doing of any such act shall signify the insurer’s consent that service of process upon the director is of the same legal force and effect as personal service of process upon such insurer within this state.

(2) The acts referred to in subsection (1) of this section are:

(a) Issuing or delivering policies of insurance to persons residing or authorized to do business in this state.

(b) Soliciting applications for policies of insurance from such persons.

(c) Collecting premiums, membership fees, assessments or other considerations under policies of insurance from such persons.

(d) Any other transaction of business arising out of policies of insurance with such persons.

(3) Service of process upon the director shall be made by delivering to and leaving with the director, or with any clerk on duty in the office, two copies of such process. Immediately after service of process, the director shall send one of such copies to the defendant insurer at its principal office. The director shall keep a record of all processes served upon the director under this section.

(4) Service of process in the manner provided in this section gives jurisdiction over the person of an insurer provided:

(a) Notice of such service and a copy of the process are sent by registered mail or by certified mail with return receipt by the plaintiff, or the attorney of the plaintiff, to the defendant insurer at its principal office within 10 days after the date of service; and

(b) The defendant insurer’s receipt, or receipt issued by the post office with which the letter is registered or certified, showing the name of the sender of the letter and the name and address of the person to whom the letter is addressed and an affidavit of the plaintiff, or the attorney of the plaintiff, showing compliance with this section are filed with the clerk of the court in which the action against such insurer is pending on or before the date on which such insurer is required to appear, or within such further time as the court may allow.

(5) Nothing contained in this section shall limit or abridge the right to serve any process upon an insurer in any other manner then permitted by law. [Formerly 736.252; 1991 c.249 §71]

Source: Section 746.320 — Service of process equivalent to personal service on unauthorized foreign or alien insurer , https://www.­oregonlegislature.­gov/bills_laws/ors/ors746.­html (accessed May 26, 2025).
ORS § 732.480 — OR Code / Title 56 / Chapter 732 / Section 732.480
732.480 Copy of bylaws of domestic mutual insurer to be provided to director
Status: in_force

A copy of the bylaws of a domestic mutual insurer, including any amendments, shall be provided to the Director of the Department of Consumer and Business Services. The bylaws of a mutual insurer may contain any provision for managing the business and regulating the affairs of the insurer that is not inconsistent with law or the articles of incorporation. The bylaws shall contain a provision that governs the involvement of the mutual insurer in a member’s communication with other members regarding the business and affairs of the insurer. The bylaws may contain a provision eliminating or limiting the personal liability of a member of the board of directors to the mutual insurer or its members for monetary damages for conduct as a director, provided that no such provision may eliminate or limit the liability of a director for any act or omission occurring prior to the date when such provision becomes effective and no such provision may eliminate or limit the liability of a director for:

(1) Any breach of the director’s duty of loyalty to the mutual insurer or its members;

(2) Acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;

(3) Any unlawful distribution; or

(4) Any transaction from which the director derived an improper personal benefit. [2001 c.352 §4]

Source: Section 732.480 — Copy of bylaws of domestic mutual insurer to be provided to director; provisions of bylaws , https://www.­oregonlegislature.­gov/bills_laws/ors/ors732.­html (accessed May 26, 2025).
ORS § 731.764 — OR Code / Title 56 / Chapter 731 / Section 731.764
731.764 Waiver of privilege
Status: in_force

(1) The privilege set forth in ORS 731.761 (Privileged information) does not apply to the extent that the privilege is expressly waived by the insurer that prepared or caused to be prepared the insurance compliance self-evaluative audit document.

(2) The privilege set forth in ORS 731.761 (Privileged information) does not apply in any civil, criminal or administrative proceeding commenced by the Attorney General relating to Medicaid fraud, without regard to whether the proceeding is brought on behalf of the state, a state agency or a federal agency. An insurer may request an in camera review of any document or other evidence to be released or used under this subsection and may request that appropriate protective orders be entered governing release and use of the material.

(3) In any civil proceeding a court of record may, after an in camera review, require disclosure of material for which the privilege set forth in ORS 731.761 (Privileged information) is asserted if the court determines that the material is not subject to the privilege, or that the privilege is asserted for a fraudulent purpose, including but not limited to an assertion of the privilege for an insurance compliance audit that was conducted for the purpose of concealing a violation of any federal, state or local law or rule. Nothing in this subsection shall be construed to limit the authority of the Director of the Department of Consumer and Business Services to acquire, examine and use insurance compliance self-evaluative audit documents under ORS 731.762 (Authority of director) .

(4) In a criminal proceeding, a court of record may, after an in camera review, require disclosure of material for which the privilege set forth in ORS 731.761 (Privileged information) is asserted if the court determines that:

(a) The privilege is asserted for a fraudulent purpose, including but not limited to an assertion of the privilege for an insurance compliance audit that was conducted for the purpose of concealing a violation of any federal, state or local law or rule;

(b) The material is not subject to the privilege; or

(c) The material contains evidence relevant to commission of a criminal offense, and:

(A) A district attorney or the Attorney General has a compelling need for the information;

(B) The information is not otherwise available; or

(C) The district attorney or Attorney General is unable to obtain the substantial equivalent of the information by any other means without incurring unreasonable cost and delay. [2001 c.329 §5]

Source: Section 731.764 — Waiver of privilege; permitted disclosures , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).
ORS § 743b.550 — OR Code / Title 56 / Chapter 743b / Section 743b.550
743B.550 Disclosure of information
Status: in_force

Nothing in ORS 743.008 (Reporting requirements) , 743A.012 (Emergency services) , 743B.195 (Enforcement of Newborns’ and Mothers’ Health Protection Act of 1996) , 743B.197 (Health Care Consumer Protection Advisory Committee) , 743B.200 (Requirements for insurers offering managed health insurance) , 743B.202 (Requirements for insurers offering managed health or preferred provider organization insurance) , 743B.204 (Required managed health insurance contract provision) , 743B.250 (Required notices to applicants and enrollees) , 743B.400 (Decisions regarding health care facility length of stay, level of care and follow-up care) , 743B.403 (Insurer prohibited practices) , 743B.420 (Prior authorization requirements) , 743B.423 (Utilization review requirements for insurers offering health benefit plan) and 743B.550 (Disclosure of information) shall be construed to require disclosure of information that is otherwise privileged or confidential under any other provision of law. [Formerly 743.839; 2021 c.97 §83]

Source: Section 743B.550 — Disclosure of information , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743B.­html (accessed May 26, 2025).
ORS § 742.480 — OR Code / Title 56 / Chapter 742 / Section 742.480
742.480 Appropriate premium charge reduction for certain motorcycle insurance policies
Status: in_force

(1) A rate, rating plan or rating system filed with the Director of the Department of Consumer and Business Services for a motor vehicle insurance policy offering liability, personal injury protection or collision coverage shall provide an appropriate reduction in premium charges for such coverage if:

(a) The principal operator of a covered motorcycle has successfully completed a motorcycle rider education course established under ORS 802.320 (Motorcycle safety program) . The course must be completed no more than three years prior to the beginning of the policy period for which the discounted rate applies.

(b) The motorcycle is not classified, for underwriting purposes, as used for a business.

(2) If the person qualifying for a premium reduction under subsection (1) of this section is the principal operator of two or more motorcycles, the premium discount applies to only one motorcycle. No more than one premium discount may be applied to one motorcycle.

(3) If a motor vehicle insurance policy insures motorcycles and other vehicles, the appropriate reduction in premium charges applies only to the motorcycle portion of the policy. [2009 c.771 §2]

Note: 742.480 (Appropriate premium charge reduction for certain motorcycle insurance policies) to 742.486 (Issuance and presentation of certificates for motorcycle rider education course) were added to and made a part of the Insurance Code by legislative action but were not added to ORS chapter 742 or any series therein. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 742.480 — Appropriate premium charge reduction for certain motorcycle insurance policies , https://www.­oregonlegislature.­gov/bills_laws/ors/ors742.­html (accessed May 26, 2025).
ORS § 743.429 — OR Code / Title 56 / Chapter 743 / Section 743.429
743.429 Proofs of loss
Status: in_force

A health insurance policy shall contain a provision as follows: “PROOFS OF LOSS: Written proof of loss must be furnished to the insurer at its office in case of claim for loss for which this policy provides any periodic payment contingent upon continuing loss within 90 days after the termination of the period for which the insurer is liable and in case of claim for any other loss within 90 days after the date of such loss. Failure to furnish such proof within the time required shall not invalidate or reduce any claim if it was not reasonably possible to give proof within such time, provided such proof is furnished as soon as reasonably possible and in no event, except in the absence of legal capacity, later than one year from the time proof is otherwise required.” [1967 c.359 §435]

Source: Section 743.429 — Proofs of loss , https://www.­oregonlegislature.­gov/bills_laws/ors/ors743.­html (accessed May 26, 2025).
ORS § 731.870 — OR Code / Title 56 / Chapter 731 / Section 731.870
731.870 State of emergency
Status: in_force

(1) When the Governor declares a state of emergency under ORS 401.165 (Declaration of state of emergency) , the Director of the Department of Consumer and Business Services may issue an order that addresses any or all of the following matters related to insurance policies issued in this state:

(a) Reporting requirements for claims;

(b) Grace periods for payment of insurance premiums and performance of other duties by insureds; and

(c) Temporary postponement of cancellations and nonrenewals.

(2) An order by the director under subsection (1) of this section may remain effective for not more than 30 days unless the director extends the termination date for the order for an additional period of not more than 30 days or for subsequent additional periods of not more than 30 days. The director may extend the order if, in the director’s judgment, the circumstances warrant an extension. The order must specify, by line of insurance:

(a) The geographic areas in which the order applies, which must be within but may be less extensive than the geographic area specified in the Governor’s proclamation of a state of emergency and must be specified according to an appropriate means of delineation, such as United States Postal Service ZIP codes or other appropriate means; and

(b) The date on which the order becomes effective and the date on which the order terminates.

(3) The director shall adopt rules that establish general criteria for orders issued under this section and may adopt emergency rules applicable to a specific proclamation of a state of emergency by the Governor.

(4) The rulemaking authority set forth in this section does not limit or affect the rulemaking authority otherwise granted to the director by law. [2008 c.22 §2]

Source: Section 731.870 — State of emergency; effect upon insurance policies; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors731.­html (accessed May 26, 2025).