reglab/housing_qa huggingface dataset:
OR Rev Stat § 744.808 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.808 - Prohibition on use of unlicensed reinsurance intermediary broker; requirement that insurer obtain financial statement of reinsurance intermediary broker.

(1) An insurer may not engage the services of any person to act as a reinsurance intermediary broker on its behalf unless the person is licensed as a reinsurance intermediary broker as required by ORS 744.800. (2) An insurer may not employ an individual who is employed by a reinsurance intermediary broker with which it transacts business unless the reinsurance intermediary broker is under common control with the insurer and subject to ORS 732.517 to 732.596. (3) The insurer must annually obtain a copy of statements of the financial condition of each reinsurance intermediary broker with which it transacts business. [1993 c.447 §78; 2003 c.364 §31]
OR Rev Stat § 744.812 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.812 - Prohibitions on actions of reinsurance intermediary managers.

A reinsurance intermediary manager may not do any of the following: (1) Cede retrocessions on behalf of the reinsurer that the reinsurance intermediary manager represents, except that the reinsurance intermediary manager may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for the retrocessions. The guidelines must include: (a) A list of reinsurers with which the automatic agreements are in effect; (b) For each such reinsurer, the coverages and amounts or percentages that may be reinsured; and (c) For each such reinsurer, the commission schedules. (2) Commit the reinsurer to participate in reinsurance syndicates. (3) Appoint an insurance producer, reinsurance intermediary broker or reinsurance intermediary manager without assuring that the insurance producer, reinsurance intermediary broker or reinsurance intermediary manager is lawfully licensed to transact the type of reinsurance for which the appointment is made. (4) Without prior approval of the reinsurer, pay or commit the reinsurer to pay a claim, net of retrocessions, that exceeds the lesser of an amount specified by the reinsurer or one percent of the combined capital and surplus of the reinsurer as of December 31 of the last complete calendar year. (5) Collect any payment from a retrocessionaire or commit the reinsurer to any claim settlement with a retrocessionaire, without prior approval of the reinsurer. If prior approval is given, the reinsurance intermediary manager must promptly forward a report to the reinsurer. (6) Jointly employ an individual who is employed by the reinsurer, unless the reinsurance intermediary manager is under common control with the reinsurer subject to ORS 732.517 to 732.596. (7) Appoint a reinsurance subintermediary manager. [1993 c.447 §80; 2003 c.364 §33]
OR Rev Stat § 744.814 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.814 - Prohibition on use of unlicensed reinsurance intermediary manager; requirement that reinsurer obtain financial statement of reinsurance intermediary manager and opinion of actuary.

(1) A reinsurer may not engage the services of any person to act as a reinsurance intermediary manager on its behalf unless the person is licensed to act as a reinsurance intermediary manager as required by ORS 744.800. (2) A reinsurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary manager that the reinsurer has engaged. Each statement must be prepared by an independent certified public accountant in a form acceptable to the Director of the Department of Consumer and Business Services. (3) If a reinsurance intermediary manager establishes loss reserves, the reinsurer shall annually obtain the opinion of an actuary who is in good standing of the American Academy of Actuaries, attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the reinsurance intermediary manager. The opinion must be in addition to any other required loss reserve certification. (4) Binding authority for all retrocessional contracts or participation in reinsurance syndicates must rest with an officer of the reinsurer who is not affiliated with the reinsurance intermediary manager. (5) Not later than the 30th day after termination of a contract with a reinsurance intermediary manager, the reinsurer shall provide written notification of the termination to the director. (6) A reinsurer may not appoint to its board of directors any officer, director, employee, controlling shareholder or subproducer of its reinsurance intermediary manager. This subsection does not apply to relationships governed by ORS 732.517 to 732.596. [1993 c.447 §81; 2003 c.364 §34]
OR Rev Stat § 744.816 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.816 - Director access to books, accounts and records.

(1) The Director of the Department of Consumer and Business Services may examine any reinsurance intermediary broker and any reinsurance intermediary manager. The director shall have access to all books, bank accounts and records of a reinsurance intermediary broker or reinsurance intermediary manager being examined. All such books, bank accounts and records must be maintained in a form usable to the director. (2) A reinsurance intermediary manager may be examined as if the reinsurance intermediary manager were the reinsurer. [1993 c.447 §82; 2003 c.364 §35]
OR Rev Stat § 744.818 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.818 - Errors and omissions insurance for reinsurance intermediary manager; rules.

(1) A resident reinsurance intermediary acting as a reinsurance intermediary manager shall maintain with the Director of the Department of Consumer and Business Services a current certificate of errors and omissions insurance in an amount established by the director by rule from an insurer authorized to do business in this state or from any other insurer acceptable to the director according to standards established by rule. (2) If the director determines that errors and omissions insurance required under this section is not generally available at a reasonable cost, the director by rule may suspend the requirement of insurance, but must reimpose the requirement when the insurance becomes available once again. [1993 c.447 §83; 2003 c.364 §36]
OR Rev Stat § 744.820 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.820 - Director authority if reinsurance intermediary broker or manager violates provisions of ORS 744.800 to 744.818.

If the Director of the Department of Consumer and Business Services finds that a reinsurance intermediary broker or a reinsurance intermediary manager has violated any provision of ORS 744.800 to 744.818, the director may order the reinsurance intermediary broker or reinsurance intermediary manager to reimburse the insurer, reinsurer, rehabilitator or liquidator for losses incurred by the insurer or reinsurer because of the violation. The director may take action under this section in addition to or instead of any other action that the director may take under the Insurance Code. [1993 c.447 §83a; 2003 c.364 §37]
OR Rev Stat § 744.850 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.850 - Definitions for ORS 744.850 to 744.858.

As used in ORS 744.850 to 744.858: (1) "Limited license" means a license issued under ORS 744.852 that authorizes a rental company to offer or sell insurance as provided in ORS 744.854. (2) "Rental agreement" means a written agreement setting forth the terms and conditions governing use of a vehicle provided by a rental company for rent. (3) "Rental company" means a person or entity in the business of providing vehicles to the public under a rental agreement for a period of 90 days or less. (4) "Renter" means a person obtaining the use of a vehicle from a rental company for a period of 90 days or less. (5) "Vehicle" means an automobile, van, minivan, sports utility vehicle, cargo van, recreational vehicle, motorcycle, all-terrain vehicle, trailer, pickup truck or truck with a gross vehicle weight of less than 26,000 pounds that does not require a commercial driver license to operate. [1999 c.485 §2; 2007 c.719 §1] Note: 744.850 to 744.858 were added to and made a part of the Insurance Code by legislative action but were not added to ORS chapter 744 or any series therein. See Preface to Oregon Revised Statutes for further explanation.
OR Rev Stat § 744.852 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.852 - Limited license for rental companies; application; rules.

(1) The Director of the Department of Consumer and Business Services shall adopt rules to specify information that rental companies must submit in applying for a limited license. (2) A rental company that intends to offer insurance as described in ORS 744.854 shall file a limited license application with the director in such form and containing such information as the director requires. (3) After receiving an application, the director may issue a limited license to the rental company if the director is satisfied that the application is complete. A limited license that the director issues to the rental company under this section is also a limited license for an employee or designated agent of the rental company to offer and sell insurance in accordance with ORS 744.854 for vehicles that the rental company rents. [1999 c.485 §3; 2015 c.524 §1] Note: See note under 744.850.
OR Rev Stat § 744.854 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.854 - Kinds of insurance authorized by limited license.

A limited license issued under ORS 744.852 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.
OR Rev Stat § 744.858 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.858 - Revocation or suspension of limited license; other penalties; application of Insurance Code; rules.

(1) If a rental company issued a limited license under ORS 744.852 offers or sells insurance not authorized by ORS 744.854, or violates any provision of ORS 744.856, the Director of the Department of Consumer and Business Services may, after notice and hearing, revoke or suspend the limited license or may impose such other penalties as the director prescribes, including but not limited to suspension of transaction of insurance at specific rental locations where violations of ORS 744.854 or 744.856 have occurred. (2) All provisions of the Insurance Code apply to rental companies issued limited licenses under ORS 744.852 unless specifically rendered inapplicable by statute or by rule adopted by the director. (3) The director may adopt any rules necessary for the implementation of ORS 744.850 to 744.858, including rules establishing license fees to defray the cost to the Department of Consumer and Business Services of administering the limited licensure program. [1999 c.485 §6] Note: See note under 744.850.
OR Rev Stat § 744.860 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.860 - Definitions for ORS 744.860 to 744.870.

As used in ORS 744.860 to 744.870: (1) "Insurer" means an insurer, a surplus lines insurer or an insurance producer. (2) "Licensee" means an owner that receives a limited license to sell insurance in accordance with ORS 744.860 to 744.870. (3) "Occupant" has the meaning given that term in ORS 87.685. (4) "Owner" has the meaning given that term in ORS 87.685. (5) "Personal property" means movable property that is not affixed to land, examples of which are goods, merchandise, household items and furnishings, motor vehicles, watercraft and other vehicles, motorized or not. (6) "Self-service storage facility" has the meaning given that term in ORS 87.685. [2013 c.280 §2]
OR Rev Stat § 744.862 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.862 - Limited license to sell insurance; exemption; application; disclosures required; conditions on license.

(1)(a) An owner may not sell insurance to an occupant without applying for and receiving a limited license under this section. (b) An owner does not require a license under this section if the owner displays or makes available materials related to an insurer’s insurance coverage but does not sell the insurance or otherwise benefit from the insurer’s insurance sales. (2) An owner may apply to the Director of the Department of Consumer and Business Services for a limited license to sell insurance under the provisions of ORS 744.860 to 744.870. The owner shall apply for the limited license on a form with contents the director specifies by rule. (3)(a) An owner shall disclose in the application described in subsection (1) of this section the physical addresses for each of the self-service storage facilities at which the owner will sell insurance under the limited license and shall certify that the owner is an owner with respect to each of the self-service storage facilities. (b) A licensee may sell insurance at a self-service storage facility other than the self-service storage facilities the licensee disclosed in an application under this section if the licensee notifies the director 30 days before the licensee begins to sell insurance at the other self-service storage facility. (c) A licensee shall notify the director within 30 days after the licensee no longer sells insurance at a self-service storage facility. (d) The director may issue and permit the owner to retain a limited license to sell insurance on the condition that the owner sells insurance only at the self-service storage facilities the owner discloses in the application for the limited license or at a self-service storage facility with respect to which the owner gives the director a notice under paragraph (b) of this subsection. (4)(a) The director may issue a limited license to sell insurance to an owner if the director is satisfied that the owner has provided the information and made the disclosures the director requires under subsection (2) of this section. (b) A limited license that the director issues under this subsection authorizes a licensee to sell insurance at all of the self-service storage facilities the licensee disclosed in an application under subsection (2) of this section. A licensee does not need a separate limited license for each self-service storage facility. [2013 c.280 §3]
OR Rev Stat § 744.864 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.864 - Permissible sales; required notices and disclosures; evidence of coverage; prohibition on representing owner as insurer.

(1) A licensee may sell insurance only: (a) Of the type described in subsection (2) of this section; (b) In connection with and incident to renting individual storage space to an occupant at a self-service storage facility; and (c) In accordance with the requirements set forth in subsection (3) of this section. (2) A licensee may sell insurance that covers an occupant only for personal property that is lost or damaged at the self-service storage facility where the licensee sold the insurance to the occupant. (3)(a) A licensee that offers to sell insurance to an occupant shall provide written material that the Director of the Department of Consumer and Business Services approves and that: (A) Summarizes the material terms of the insurance coverage, identifies the insurer, states the premium price and describes the benefits, exclusions and conditions of the insurance policy; (B) Discloses that the insurance may duplicate or overlap with coverage the occupant may have from other insurance policies, such as a renter’s policy, a homeowner’s policy, a vehicle policy, a watercraft policy or another source of property insurance; (C) States that renting individual storage space at the self-service storage facility does not require an occupant to purchase property insurance from the licensee or that, if renting individual storage space does require the occupant to have property insurance, that the occupant may satisfy the requirement by providing evidence that the occupant has coverage from another source of property insurance; (D) Describes the process for filing a claim under the terms of the insurance policy; and (E) Lists all costs to the occupant in connection with the insurance. (b) A licensee that completes a transaction with an occupant that purchases insurance from the licensee shall provide evidence to the occupant of the insurer’s coverage on a form that the insurer has approved. (4) A licensee may sell only insurance provided by an insurer that is authorized under the Insurance Code to transact, in this state, the line of insurance that the licensee sells. (5) A licensee may not advertise, represent or otherwise cause another person to understand or suppose that the licensee is a licensed insurer. [2013 c.280 §4]
OR Rev Stat § 744.866 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.866 - Training program; approval of training materials; certification of training; auditing.

(1)(a) A licensee must provide a training program for the licensee’s employees or agents that sell insurance on the licensee’s behalf. The training program must instruct the employees or agents about the coverage the insurance provides and about the provisions of ORS 744.860 to 744.870. (b) The licensee each year shall submit to the Director of the Department of Consumer and Business Services for the director’s approval an outline of, and copies of materials the licensee uses in, the training program. (c) A licensee each year shall certify to the director that the licensee’s employees or agents that sell insurance have completed or will complete the training program the licensee provides under paragraph (a) of this subsection before the employees or agents sell insurance. (d) An employee or agent that has completed the training program under paragraph (a) of this subsection is not required to undergo continuing education in the topics covered in the training program. (2) The director may audit the licensee’s compliance with the provisions of subsection (1) of this section. (3)(a) An employee or agent of a licensee may act on behalf and under the supervision of the licensee in matters within the scope of a license issued under ORS 744.862. (b) For purposes of ORS 744.860 to 744.870, the conduct of a licensee’s agent or employee who is acting within the scope of the employee’s or agent’s duties toward the licensee is the conduct of the licensee. [2013 c.280 §5]
OR Rev Stat § 744.868 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.868 - License suspension and revocation or other penalty; rules.

(1) The Director of the Department of Consumer and Business Services may suspend or revoke a limited license the director issued under ORS 744.862, or may impose another penalty the director prescribes by rule, if: (a) A licensee sells or offers to sell insurance other than insurance described in ORS 744.864; (b) An owner sells or offers to sell insurance to an occupant without obtaining a limited license in accordance with ORS 744.862; or (c) An owner or licensee violates another provision of ORS 744.860 to 744.870. (2) The director may suspend or revoke a limited license under this section with respect to all or a portion of the licensee’s self-service storage facilities. [2013 c.280 §6]
OR Rev Stat § 744.870 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses|Section 744.870 - Compensation, bonuses and incentives.

ORS 744.860 to 744.870 do not prohibit: (1) An insurer from paying, or a licensee from receiving, a commission, fee or other compensation for selling the insurer’s insurance; or (2) A licensee or owner from paying an employee or agent of the licensee or owner a bonus, incentive payment or other compensation if the bonus, incentive payment or compensation does not depend on the employee’s or agent’s selling insurance. [2013 c.280 §7]