justicedao/ipfs_state_laws huggingface dataset:
ORS Chapter 742 — Insurance Policies

ORS 742.242. Subrogation. A fire insurance policy shall contain a provision as follows: This company may require from the insured an assignment of all right of recovery against any party for loss to the extent that payment therefor is made by this company. [Formerly 743.663]
ORS Chapter 742 — Insurance Policies

ORS 742.244. Coverage for loss from nuclear reaction or radiation. Insurers issuing the standard fire insurance policy pursuant to ORS 742.202 are authorized to affix thereto or include therein a written statement that the policy does not cover loss or damage caused by nuclear reaction or nuclear radiation or radioactive contamination, all whether directly or indirectly resulting from an insured peril under said policy. However, nothing contained in this section shall be construed to prohibit the attachment to any such policy of an indorsement or indorsements specifically assuming coverage for loss or damage caused by nuclear reaction or nuclear radiation or radioactive contamination. [Formerly 744.125 and then 743.666]
ORS Chapter 742 — Insurance Policies

ORS 742.246. Other fire insurance policy provisions permitted. (1) A fire insurer may add to the provisions required by ORS 742.202 other conditions, provisions and agreements not in conflict with law or contrary to public policy. (2) Any provision restricting or abridging the rights of the insured under the policy must be preceded by a sufficiently explanatory title printed or written in type not smaller than eight-point capital letters. (3) This section applies only to standard fire insurance policies as described in ORS 742.202 and does not apply to any other insurance policies.
ORS Chapter 742 — Insurance Policies

ORS 742.248. Mutual fire insurers policyholders liability; nonassessable policies. (1) Each person accepting a policy in a mutual fire insurer thereby becomes a member of the insurer and liable for a proportionate share of losses and operating expenses. (2) Any person or persons holding property in trust may insure the same in a mutual fire insurer, and as such trustee assume the liabilities and be entitled to the rights of a member, but shall not be personally liable upon such insurance policy. (3) A mutual fire insurer may fix the contingent and mutual liability of its members for payment of losses and expenses by a uniform rule set forth in its bylaws and policies. Such mutual liability shall not be less than twice the amount of the usual advance assessment written in the policy. (4) A mutual fire insurer that received a certificate of authority prior to September 2, 1963, and has accumulated in the regular course of business assets of not less than $200,000, of which not less than $100,000 is surplus determined as provided in the Insurance Code, may while in that condition and subject to the approval of the Director of the Department of Consumer and Business Services adopt bylaws limiting the liability of its policyholders to the premium specified in its policies. The power to issue policies with such limitation of liability continues only during the time the insurer is in such financial condition. (5) A mutual fire insurer that received a certificate of authority after September 2, 1963, and has $500,000 in surplus determined as provided in the Insurance Code, may while in that condition and subject to the approval of the director adopt bylaws limiting the liability of its policyholders to the premium specified in its policies. The power to issue policies with such limitation of liability continues only during the time the insurer is in such financial condition. (6) Every mutual fire insurer which has not limited the liability of its policyholders in accordance with subsections (4) and (5) of this section must print upon its policies such bylaws as will define the liability of a policyholder in addition to the statement required by ORS 742.036. [Formerly 744.430 and then 743.672]
ORS Chapter 742 — Insurance Policies

ORS 742.250. Mutual fire insurers action to recover assessment. An action may be brought against any member of a mutual fire insurer who neglects or refuses to pay any assessment levied by the insurer to recover the whole amount of contingent liability with costs of the action. Execution shall issue on a judgment recovered in such an action for assessments and costs only as they accrue. [Formerly 744.440 and then 743.675]
ORS Chapter 742 — Insurance Policies

ORS 742.252. Mutual fire insurers; withdrawal of members. Any member of a mutual fire insurer may withdraw at any time by surrendering the members policy to the insurer, giving written notice to the secretary of intention to withdraw and paying the members share of all losses which have accrued and all assessments then due, accrued or pending. [Formerly 744.450 and then 743.678]
ORS Chapter 742 — Insurance Policies

ORS 742.254. Mutual fire insurance policy cancellation. (1) A mutual fire insurer may cancel or terminate any fire insurance policy by giving the insured five days written notice and returning to the insured any unearned assessment computed pro rata. (2) A mutual fire insurer shall use and issue only the standard form of policy required by ORS 742.202, except that: (a) It is not required upon cancellation of the insurance policy or certificate of membership to return any part of any policy, certificate, membership or inspection fee that may have been charged. (b) Where a definite part of the amount charged has been collected for and designated as an expense assessment, it may by bylaw determine the amount of refund that shall be made from such expense assessment. (c) If it is on an assessment basis, levying assessments at such times and in such amounts as are necessary to defray its losses and expenses, it may provide by bylaw that no part of the assessments shall be returned. (d) If it is organized for the insurance of a single class of risks and the assessment charged in a flat sum, it may provide in the insurance policy that no return assessment shall be paid upon cancellation. [Formerly 744.460 and then 743.681] CHILD CARE FACILITY
ORS Chapter 742 — Insurance Policies

ORS 742.260. Cancellation of homeowner or fire policy; coverage for child care; definition. (1) An insurer offering homeowner or renter liability or fire insurance may not cancel or refuse to issue or renew a policy on a private home solely on the basis that the policyholder operates a child care facility if the policyholder is registered or certified pursuant to ORS 329A.250 to 329A.450. (2) A homeowner or renter liability or fire insurance policy may not provide coverage for losses arising out of or in connection with child care provided by a registered or certified child care facility. Coverage for losses arising out of or in connection with child care by a registered or certified child care facility may be provided only by a separate policy or indorsement for which premiums are assessed and paid. (3) As used in this section, child care facility has the meaning given in ORS 329A.250. [1995 c.685 2; 1999 c.743 23; 2022 c.27 19] HOMEOWNER INSURANCE POLICIES
ORS Chapter 742 — Insurance Policies

ORS 742.273. Property losses in locations subject to declarations of emergency; required provisions of homeowner insurance policy; limits on payments. If a loss covered under a policy of homeowner insurance, as defined in ORS 746.600, occurs in a location that was subject to a declaration of emergency under ORS 401.165 and the loss is directly related to the emergency that was the subject of the declaration, the policy of homeowner insurance must require the insurer to combine coverage limits that apply to claims for a loss of the insureds primary dwelling and claims for a loss of other covered structures if the coverage limit that applies to the insureds primary dwelling is insufficient to pay for rebuilding or replacing the primary dwelling. The amount an insurer pays under the total combined coverage limits may not exceed the amount that would be necessary to repair the actual damage to, or replace, as appropriate, the insureds primary dwelling. The insurer shall pay in accordance with the terms of the policy of homeowner insurance the amount of any claim for a loss other than damage to the insureds primary dwelling.
ORS Chapter 742 — Insurance Policies

ORS 742.276. Estimates of cost to rebuild or replace covered property. An insurer shall provide to an insured every other year at the time the insurer offers to renew a policy of homeowner insurance, as defined in ORS 746.600, an opportunity to obtain a new estimate of the cost necessary to rebuild or replace the covered property if the insured provides information necessary for the estimate.
ORS Chapter 742 — Insurance Policies

ORS 742.277. Notice of cancellation, nonrenewal or rate change related to wildfire risk; risks and remedies; additional requirements; rules. (1) As used in this section: (a) Homeowner insurance has the meaning given that term in ORS 746.600. (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:
ORS Chapter 742 — Insurance Policies

ORS 742.278. Prohibition on uses of map of wildfire risk or exposure. An insurance company may not use a map published by an agency of this state that identifies areas of wildfire risk or exposure as a basis for: (1) Canceling or declining to renew a homeowner insurance policy; or (2) Increasing a premium for a homeowner insurance policy. [2023 c.67 4] Note: See note under
ORS Chapter 742 — Insurance Policies

ORS 742.280. Home protection insurance; rules. (1) A home protection policy shall specify: (a) The home, home components and personal property relating to the home or its components that are covered by the policy. (b) The exclusions to and limitations on the coverage. (c) The period during which the policy will be in effect and the renewal terms, if any. (d) The particulars regarding the performance of services, if any, by or on behalf of the insurer, including but not necessarily limited to the following: (A) The kinds of services to be performed by or on behalf of the insurer, and the terms and conditions of the performance. (B) The service fee or deductible amount, if any, to be charged for the services. (C) All limitations regarding the performance of services, including any restrictions on the time period during which, or geographical area within which, services may be requested or will be performed. (D) A statement that services will be performed upon the insureds telephoned request to the insurer, without any requirement that a claim form or service application be filed before service is performed. (E) A representation that services will be initiated by or under the direction of the insurer within 48 hours after request is made for services. (e) All other provisions which are required by the Insurance Code or by rules issued by the Director of the Department of Consumer and Business Services. (2) A home protection policy shall be noncancelable during the term for which it is originally written, except for nonpayment of the premium charge for the policy or for fraud or misrepresentation of facts material to the issuance of the policy. However, a policy providing coverage while the subject home is being offered for sale is cancelable in accordance with the policy provisions if no sale is made. A home protection policy is not renewable unless its terms provide otherwise. (3) The director may adopt rules regarding home protection policies in order to protect the interests of persons affected by the policy contract. The director may not adopt rules specifying the home components or related personal property which must be covered by a home protection policy, except to the extent necessary to: (a) Obtain fairness in the exclusions from coverage; or (b) Avoid illusory coverage caused by the nature or extent of the exclusions from coverage. [Formerly 743.690] MORTGAGE INSURANCE
ORS Chapter 742 — Insurance Policies

ORS 742.284. Insured obligations as legal investments and securities for deposit. (1) Obligations insured by mortgage insurance policies issued in conformity with the Insurance Code shall be legal investments for all trust funds held by any executor, administrator, conservator, trustee or other person or corporation holding trust funds, and also for the funds of banks, banking institutions and trust companies, and shall be accepted by this state and its officers and officials as securities constituting any part of any fund or deposit required by law to be made with this state, or any officer or official thereof, by any trust company doing business in this state. All premiums required to be paid according to the terms of any such mortgage insurance policy may be charged to or paid out of the income from the obligations covered thereby. In the case of such fund or deposit required by law, such obligations must constitute a first lien on real property that is worth at least double the amount of such lien. (2) The provisions of subsection (1) of this section with respect to legal investments for funds shall also apply to obligations not so insured if: (a) The obligation constitutes a first lien upon a marketable title to real property; (b) There exists a lease insurance policy covering the property securing the obligation, issued in conformity with the Insurance Code; (c) The aggregate lease payments so insured exceeds the amount of the obligation; and (d) The insurer is legally bound to remit all lease insurance proceeds directly to the owner of the obligation. [Formerly 746.080 and then 743.708]
ORS Chapter 742 — Insurance Policies

ORS 742.286. Mortgage insurance; who may write. All policies and contracts of insurance covering liens or security interests in real property shall be written by authorized mortgage insurers. No other class of insurer may write any form of mortgage insurance. [Formerly 743.711]
ORS Chapter 742 — Insurance Policies

ORS 742.300. [Formerly 743.720; repealed by 1993 c.265 14]
ORS Chapter 742 — Insurance Policies

ORS 742.302. [Formerly 743.723; repealed by 1993 c.265 14] SURETY INSURANCE
ORS Chapter 742 — Insurance Policies

ORS 742.350. Bonds, undertakings and other obligations required by law may be executed by surety insurers. (1) Whenever any bond, undertaking, recognizance, or other obligation is by law or the charter, ordinance, rules or regulations of any municipality, board, body, organization, court, judge or public officer required or permitted to be made, given, tendered or filed with surety or sureties, and whenever the performance of any act, duty or obligation, or the refraining from any act is required or permitted to be guaranteed, such bond, undertaking, obligation, recognizance or guaranty may be executed by an authorized surety insurer. (2) The execution by such an insurer of any such obligation is in all respects a full and complete compliance with every requirement that it be executed by one surety, or by one or more sureties, or that such sureties be residents or householders, or freeholders, or either or both, or possess any other qualification. (3) A surety insurer may be required to justify as surety. It shall be sufficient justification for such surety insurer when examined as to its qualifications to exhibit the certificate of authority issued to it by the Director of the Department of Consumer and Business Services or a certified copy thereof. [Formerly 747.080 and then 743.732]
ORS Chapter 742 — Insurance Policies

ORS 742.352. Reimbursement of private persons required to give bond, letter of credit or other obligation. Any receiver, assignee, guardian, conservator, trustee, executor, administrator or other fiduciary, required by law or the order of any court or judge to give a bond, letter of credit or other obligation as such, may include as a part of the lawful expense of executing the trust, such reasonable sum paid an insurer for becoming surety on the bond or an issuer of a letter of credit as may be allowed by the court in which, or judge before whom, the person is required to account. Such sum shall not exceed one percent per annum of the amount of the bond or letter of credit.
ORS Chapter 742 — Insurance Policies

ORS 742.354. Reimbursement of public officials required to give bond or letter of credit. Any state, county or municipal officer or officer of any school district, public board or public commission within this state, or any deputy employed in the office of any such official, who is required by law, ordinance, regulation or public policy to give a bond or letter of credit for the faithful performance of duties, shall be allowed a reasonable sum paid a surety insurer for becoming surety on the bond, or paid to a letter of credit issuer for issuing a letter of credit. Such sum shall not exceed one-half of one percent per annum of the amount of the bond or letter of credit. Such premium or fee shall be paid out of the proper state, county, municipal, district, board or commission funds.
ORS Chapter 742 — Insurance Policies

ORS 742.356. Surety insurer may take measures to reduce risk of loss. (1) Any surety insurer may contract for and receive and hold on deposit and in trust property of any kind as collateral security on any policy of guaranty or suretyship executed by it. The insurer may manage, realize on and dispose of the property so received and held on deposit as may be agreed to between it and the person making the deposit. (2) Any receiver, assignee, guardian, conservator, trustee, executor, administrator or other fiduciary or party from whom a policy of guaranty or suretyship is by law required or permitted may agree and arrange with the surety insurer for the deposit for safekeeping of any or all moneys, assets and other property for which the person is or may be responsible in a bank, savings bank, safe deposit or trust company authorized by law to do business as such, in such manner as to prevent the withdrawal or alienation of such money, assets or other property, or any part thereof, without the written consent of the surety insurer or an order of a court of competent jurisdiction or a judge thereof made on such notice to the surety insurer as the court or judge may direct. (3) Generally, it shall be lawful for a surety insurer to enter into any contract of indemnity or security with any person if such contract is not otherwise prohibited by law or against public policy. [Formerly 747.130 and then 743.741]
ORS Chapter 742 — Insurance Policies

ORS 742.358. Release of surety on official bonds by action of obligee. (1) Any official whose duty it is to approve any bond or undertaking given in favor of the state or any county, city, school district, drainage or irrigation district, board or commission within the state may cancel the bond or undertaking by serving written notice of its election so to do upon the principal and surety or sureties on such bond or undertaking 10 days before it desires the cancellation of the obligation to take effect. (2) The official at the time of serving such notice shall also file with the officer or official occupying the position of secretary or clerk of the state, county, city, school district, drainage or irrigation district, board or commission, as the case may be, at the regular place of business of such secretary or clerk, a certified copy of such notice. At the expiration of 10 days from the filing of such notice, the surety or sureties upon such bond or undertaking shall be discharged from further liability thereon. [Formerly 747.140 and then 743.744]
ORS Chapter 742 — Insurance Policies

ORS 742.360. Release of surety on bond of public official by action of surety. (1) The surety or sureties on the bond of any public official in this state shall be released from any future liability thereon upon giving notice of election to be released as provided in this section. (2) A surety desiring to be released from liability on the bond of any state officer may file with the Governor or Secretary of State 30 days before the surety desires the release to take effect, a notice in writing, duly subscribed by the surety or someone in behalf of the surety, setting forth the name and office of the person for whom the surety is surety, the amount for which the surety is liable as such, and the desire of the surety to be released from further liability on account thereof. A duplicate of such notice shall also be served personally on the officer unless the officer has left this state, in which case it may be served by publication for 20 days in some newspaper printed at the seat of government, or if none is printed there, then in such newspaper as shall be designated by the Governor or Secretary of State. (3) A surety desiring to be released from liability on the bond of any county officer may file and serve a similar notice. The notice, except when it concerns the county clerk personally, shall be filed with the county clerk. When the county clerk is personally concerned the notice shall be filed with the county treasurer. (4) A surety desiring to be released from liability on the bond of any city officer may file and serve a similar notice with the city clerk or mayor. (5) A surety desiring to be released from any other official bond or undertaking shall file and serve a similar notice with the officer, person or authority whose duty it is to approve such bonds. (6) A notice which under this section may be served by publication may be published in a newspaper in the same county or, if no newspaper is published therein, then in an adjoining or other county, without any order from any court or other authority. In all cases for which publication is provided, a printed or written notice posted in at least three conspicuous places in the county for the time specified shall be deemed legal notice thereof. [Formerly 747.150 and then 743.747]