reglab/statecodes huggingface dataset:
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 60 - INSURANCE POLICIES (ORS CHAPTER 743) › Section 836-060-0046 - Supervision of Credit Insurance Operations

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Once every rate review period established
			 under OAR 836-060-0041(4), each insurer transacting credit insurance in this
			 state shall be responsible for conducting a thorough review of creditors with
			 respect to the insurer's credit insurance business with such creditors, to
			 assure compliance with the Oregon Insurance Code and 836-060-0000  through
			 836-060-0060.
(2) The insurer shall
			 maintain written records of these reviews for review by the Director. The
			 records shall:
(a) Review and report the
			 creditor's activities according to OAR 836-060-0011(5); and
(b) Verify the prompt and timely payment of
			 claims and accuracy of refunds.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 60 - INSURANCE POLICIES (ORS CHAPTER 743) › Section 836-060-0055 - Prohibited Transactions

Current through Register Vol. 63, No. 7, July 1, 2024
The following insurer practices in connection with the sale or
				placement of credit insurance, or as an inducement thereto, constitute unfair
				methods of competition under ORS
				746.160 or unfair or deceptive
				practices injurious to the insurance-buying public under ORS
				746.240:
(1) Practices in connection with the
			 creditor:
(a) The offer or grant by an insurer
			 to a creditor of any special advantage or any service not set out in either the
			 group insurance contract or in the agency contract.
(b) Agreement by an insurer to deposit with a
			 bank or other financial institution money or securities of the insurer, with
			 the design or intent that this deposit shall affect or take the place of a
			 deposit of money or securities which otherwise would be required of the
			 creditor by the bank or the other financial institution as a compensating
			 balance or offsetting deposit for a loan or other advancement.
(c) Deposit by an insurer of money or
			 securities with a creditor, bank or other financial institution without
			 interest or at lesser rate of interest than is currently being paid to other
			 depositors of like amounts. This subsection shall not be construed to prohibit
			 the maintenance by an insurer of those demand deposits or premium deposit
			 accounts as are reasonably necessary for use in the ordinary course of the
			 insurer's business.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 62 - VENDOR'S SINGLE INTEREST POLICIES AND MOTOR VEHICLE PHYSICAL DAMAGE ONLY POLICIES › Section 836-062-0001 - Statutory Authority; Effective Date

Current through Register Vol. 63, No. 7, July 1, 2024
(1) OAR 836-062-0001  to 836-062-0010  are
			 adopted pursuant to the general rulemaking authority of the Director under ORS
			 731.244.
(2) Not later than December 15, 1989, each
			 insurer shall file with the Director a listing of all policy forms that comply
			 with OAR 836-062-0005  or 836-062-0010. Any form to which 836-062-0005  or
			 836-062-0100 applies but does not comply with either rule becomes disapproved
			 for use in Oregon and may not be used after that date unless it has been
			 resubmitted to and approved by the Director.
Stat. Auth.: ORS 731
Stats. Implemented: ORS
				  742.005(2), ORS
				  742.023(1)(f)
				  & 746.240
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 62 - VENDOR'S SINGLE INTEREST POLICIES AND MOTOR VEHICLE PHYSICAL DAMAGE ONLY POLICIES › Section 836-062-0005 - Motor Vehicle Physical Damage Only Policies; Required Notice

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An insurer
			 providing motor vehicle property damage only coverage on a domestic risk, upon
			 issuance of coverage, shall give notice of the limited nature of the coverage
			 as provided in this section to the purchaser of the motor vehicle to which the
			 coverage applies. The insurer shall display the notice on the face page of the
			 policy, the group or master contract or any other document issued by the
			 insurer to the purchaser as evidence of insurance coverage. Except as provided
			 in section (2) of this rule, the notice shall be in bold face type of not less
			 than 12-point with a lower case unspaced alphabet length of not less than
			 120-point, or of not less than 10-point if the notice is in a contrasting
			 color, and shall state:
"
WARNING: THIS COVERAGE DOES NOT PROVIDE BODILY INJURY
				AND PROPERTY DAMAGE LIABILITY INSURANCE
AND DOES NOT COMPLY WITH
				ANY FINANCIAL RESPONSIBILITY LAW OR ANY OTHER LAW MANDATING MOTOR VEHICLE
				INSURANCE COVERAGE
."
(2) An insurer may satisfy the notice
			 requirement under section (1) of this rule by use of a notice provision that
			 substantially complies with the notice provision set forth in section (1) of
			 this rule, if the alternative notice provision is approved by the Director
			 prior to use.
(3) For purposes of
			 this rule, a policy is a motor vehicle physical damage only policy if it
			 insures solely against the loss of or damage to any motor vehicle designed
			 primarily for use upon a highway.
(4) The notice requirement under this rule
			 may be met by the attachment of a sticker or by a stamp that contains the
			 required warning. Other devices that contain the required warning may be used
			 if approved by the Director prior to use.
(5) The insurance producer selling the
			 coverage to which this rule applies shall require the purchaser of the coverage
			 to sign a receipt acknowledging that the purchaser has read and understands the
			 warning required under section (1) of this rule. The receipt shall be retained
			 by the insurance producer or insurer until the end of the sixth month after the
			 termination date of the coverage to which the receipt applies.
(6) This rule applies to motor vehicle
			 physical damage only policies on individually owned private passenger vehicles
			 including pickup and panel trucks and station wagons that are not used as a
			 public or livery conveyance for passengers or rented to others, and does not
			 apply to motor vehicle physical damage only policies on commercial
			 fleets.
Stat. Auth.: ORS
				  731.244
Stats. Implemented: ORS
				  742.005,
				  742.023 &
				  746.240
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 62 - VENDOR'S SINGLE INTEREST POLICIES AND MOTOR VEHICLE PHYSICAL DAMAGE ONLY POLICIES › Section 836-062-0010 - Vendor Single Interest Policies; Required Notice

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An insurer providing vendor's single
			 interest coverage shall cause notice of the limited nature of the coverage to
			 be given as provided in this rule to the borrower to whom the policy,
			 certificate or other document giving evidence or notice of insurance coverage
			 is issued. The notice shall be displayed on the face page of the policy,
			 certificate or other document, or enclosed therewith. Except as provided in
			 section (2) of this rule, the notice of the limited nature of the coverage
			 shall be in bold face type of not less than 12-point with a lower case unspaced
			 alphabet length of not less than 120-point or of not less than 10-point if the
			 notice is in a contrasting color, and shall state:
"WARNING: THIS IS A LIMITED POLICY THAT PROTECTS ONLY THE
				LENDER'S INTEREST IN THE INSURED PROPERTY. THE POLICY DOES NOT PROVIDE BODILY
				INJURY AND PROPERTY DAMAGE LIABILITY INSURANCE AND DOES NOT COMPLY WITH ANY
				FINANCIAL RESPONSIBILITY LAW OR ANY OTHER LAW MANDATING MOTOR VEHICLE INSURANCE
				COVERAGE."
(2) An
			 insurer may satisfy the notice requirement under section (1) of this rule by
			 use of a notice provision that substantially complies with the notice provision
			 set forth in section (1) of this rule, if the alternative notice provision is
			 approved by the Director prior to use.
(3) This rule applies to all policies of
			 personal property insurance placed on personal property that protect only the
			 single interest of the vendor or lender. A policy protects only the single
			 interest of the vendor or lender if it protects against loss or damage to
			 personal property of a debtor for the following purposes:
(a) To secure repayment of the amount
			 borrowed from the vendor or lender;
(b) To protect the vendor's or lender's
			 interest in the property; and
(c)
			 To protect the interest in the amount of the actual cash value of the
			 collateral, the cost of repair or the loan balance, whichever is
			 less.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0101 - Adjuster and Insurance Consultant License Application; Required Information

Current through Register Vol. 63, No. 7, July 1, 2024
(1) In
			 addition to information required under ORS
			 744.001,
			 an applicant for an adjuster or insurance consultant license shall provide the
			 following information relating to the applicant, as applicable on the
			 application form:
(a) Date and place of
			 birth;
(b) Duration of employment
			 in insurance. Include the beginning and ending dates and the names and
			 addresses of each employer and prior places of business in the insurance
			 industry;
(c) All states and
			 provinces of Canada in which the applicant currently holds a license to engage
			 in the transaction of insurance, or has held such a license within ten years
			 prior to the date of the application;
(d) Any assumed business name or alias ever
			 used;
(e) Whether any firm or
			 corporation of which the applicant is or has been a member, officer or director
			 has ever filed for bankruptcy or been adjudged a bankrupt;
(f) The Social Security number of the
			 applicant; and
(g) If the applicant
			 is a firm or corporation, the name of all current officers, directors and
			 stockholders who own more than ten percent of any class of equity security of
			 the applicant.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0105 - Additional Application Information

Current through Register Vol. 63, No. 7, July 1, 2024
During the review of an application, the Director may require
				court documents, letters of recommendation and any other information that the
				Director determines will assist consideration of the
				application.
Stat. Auth.: ORS 731 & ORS 744
Stats.
				  Implemented:
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0108 - Limited Class Insurance Licenses

Current through Register Vol. 63, No. 7, July 1, 2024
For the purpose of ORS
				744.062, the Director
				establishes the following classifications for limited class insurance licenses,
				for use on and after July 1, 2005:
(1) Under a "limited class credit insurance"
			 license, the licensee may transact the following classes of insurance when the
			 insurance is offered in connection with an extension of credit that is limited
			 to partially or wholly extinguishing that credit obligation:
(a) Credit life insurance. Under this class,
			 an insurance producer may transact credit life insurance as approved under ORS
			 743.371(1).
(b) Credit health insurance. Under
			 this class an insurance producer may transact credit health insurance as
			 approved under ORS 743.371(2).
(c) Credit unemployment and
			 involuntary unemployment insurance. Under this class an insurance producer may
			 transact approved liability coverage for unemployment.
(d) Credit property insurance. Under this
			 class, an insurance producer may transact insurance against property loss or
			 damage that may result in failure of debtors to pay their obligations to the
			 insured, including but not limited to motor vehicle physical damage insurance.
			 This class does not include mortgage insurance.
(e) Mortgage guarantee insurance. Under this
			 class, an insurance producer may transact only the insurance that is issued by
			 an authorized mortgage insurer under ORS
			 742.282 to
			 742.286.
(f) Mortgage life or disability insurance, or
			 mortgage life and disability insurance. Under this class, a lending institution
			 may transact mortgage cancellation insurance as approved under ORS
			 743.303(1)(b) and
			 (5).
(g) Gap insurance. This class applies to a
			 person described in ORS
			 731.036(9) who
			 does not qualify for the exemption in
			 731.036(9)
			 because the person imposes an additional charge to waive the amount described
			 in 731.036(9)(b)
			 pursuant to an agreement to lease or to finance the purchase of a motor
			 vehicle.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0110 - Fingerprints

Current through Register Vol. 63, No. 7, July 1, 2024
All applicants for a license shall furnish fingerprints
				required by the Director of the Department of Consumer and Business Services to
				the examination administrator who will perform the duties of obtaining
				electronically the fingerprints of applicants and submitting the fingerprints
				for Oregon or nationwide criminal history checks. The applicant shall submit
				the fingerprints according to the requirements and instructions of the
				examination administrator.
Stat. Auth.: ORS
				  181.534,
				  705.135 &
				  731.244
Stats. Implemented: ORS
				  181.534,
				  705.141,
				  744.001 &
				  744.059
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0112 - Social Security Numbers; Insurance Producer Applications

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An applicant
			 for an insurance producer license shall furnish the Social Security number of
			 the applicant as provided in the application form.
(2) The Director may collect Social Security
			 numbers submitted in applications under this rule and may use a Social Security
			 number of an individual when authorized to do so for the purposes specified in
			 this section. In addition to the governmental uses for which a Social Security
			 number is required in an application under federal and state law, when
			 authorized by the holder of a Social Security number, the Director may use a
			 Social Security number for any of the following purposes:
(a) As an identification number in
			 maintaining records and reporting grades or examination scores;
(b) For licensing purposes; and
(c) For use by other government agencies to
			 carry out their statutory duties.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0113 - Crop Insurance

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The
			 director designates crop insurance as a class of insurance, for the purpose of
			 licensing crop adjusters, under the director's authority in ORS
			 744.531(3).
(2) Effective Feb. 1, 2011, to qualify as a
			 crop adjuster, an applicant must pass an examination given by the
			 director.
Statutory/Other Authority: ORS
				  731.244 & ORS
				  744
Statutes/Other Implemented: ORS
				  744.531
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0115 - Satisfaction of Qualifications for Classes of Insurance

Current through Register Vol. 63, No. 7, July 1, 2024
An applicant must satisfy all applicable qualifications for
				each class of insurance applied for within a license category before the
				applicant may be issued a license.
Stat. Auth.: ORS 731 & ORS 744
Stats.
				  Implemented:
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0117 - Managing General Agents; Amount of Claims Adjustment or Payment for Purposes of Statutory Definition

Current through Register Vol. 63, No. 7, July 1, 2024
For the purpose of establishing under ORS
				744.300 whether a person is
				acting as a managing general agent, the amount of $10,000 is the amount of
				claims that the Director must determine under
				744.300(3)(b)(A).
Stat. Auth.: ORS
				  731.244,
				  744.300,
				  744.306,
				  744.313 &
				  744.314
Stats.
				  Implemented:
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0118 - Requirements That Must Be Completed Prior to Submitting Licensing Application

Current through Register Vol. 63, No. 7, July 1, 2024
On and after August 1, 2012, all applicants for a license shall
				submit application materials electronically in accordance with directions
				provided on the website of the Insurance Division of the Department of Consumer
				and Business Services. Before submitting an application for a license for
				consideration by the Director, the applicant must complete the following steps
				in the application process:
(1)
			 Completion of all pre-examination training and experience requirements under
			 OAR 836-071-0180;
(2) Submission of
			 fingerprints in accordance with OAR 836-071-0110;
(3) Satisfactory passage of a licensing
			 examination under OAR 836-071-120 and 836-071-0127; and
(4) Completion of a criminal history check as
			 set forth in OAR 836-072-0001.
Statutory/Other Authority: ORS
				  705.141,
				  731.244,
				  731.804,
				  744.001,
				  744.003,
				  744.058,
				  744.535,
				  744.619  & 744.621
Statutes/Other Implemented: ORS
				  744.001,
				  744.003,
				  744.058,
				  744.535,
				  744.619  & 744.621
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0120 - Examination Procedure

Current through Register Vol. 63, No. 7, July 1, 2024
(1) To
			 take an examination, an applicant must register with the examination
			 administrator in advance of the examination.
(2) The administrator of the examination may
			 require photographic identification of the applicant at the examination
			 site.
(3) To be admitted to the
			 examination site, an applicant must submit to the examination administrator
			 either of the following as proof of satisfactory completion of required
			 training:
(a) A signed certificate of
			 insurance pre-examination training taken at a school registered under OAR
			 836-071-0190. The signed certificate must include the applicant's name, the
			 classes of insurance for which training was received, the school name, the date
			 on which the training was completed and the signature of a person authorized by
			 the school to sign such certificates; or
(b) Proof of completion of the required
			 pre-examination insurance training at an accredited college or
			 university.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0125 - Period for Completion of License Application

Current through Register Vol. 63, No. 7, July 1, 2024
An application for a license is invalid if the license for
				which the application was made has not been granted on or before the last day
				of the ninth month after the date on which the application was filed with the
				Director.
Stat. Auth.: ORS
				  731.244
Stats. Implemented: ORS
				  744.001
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0127 - Examination Scores

Current through Register Vol. 63, No. 7, July 1, 2024
(1) For the
			 purpose of obtaining authorization to transact a category or class of
			 insurance, an applicant passes an examination for the class or category when
			 the applicant obtains a score of 70 percent or higher, with the exception of a
			 crop insurance adjuster examination, for which the minimum passing score is 80
			 percent.
(2) An applicant for a
			 surplus lines licensee's license must take a written examination approved by
			 the Director and must achieve a score of 70 percent or higher.
Statutory/Other Authority: ORS
				  731.244,
				  731.804,
				  744.001,
				  744.003,
				  744.066,
				  744.069,
				  744.075,
				  744.535,
				  744.619  & 744.621
Statutes/Other Implemented: ORS
				  744.535
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0130 - Adjuster or Insurance Consultant License Renewal

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The adjuster or insurance consultant
			 license of an individual expires biennially in the month of the individual's
			 birthday anniversary. The adjuster or insurance consultant license of a person
			 other than an individual expires on the last day of the month in which the
			 second anniversary of the initial issuance date occurs. Thereafter, the license
			 of a person other than an individual shall expire on the second anniversary
			 following each renewal.
(2) Not
			 later than the license expiration date, an adjuster or insurance consultant
			 licensee applying for renewal must submit electronically in the form and
			 according to directions set forth on the Insurance Division website of the
			 Department of Consumer and Business Services at
www.insurance.oregon.gov
the
			 following, as applicable:
(a) A completed
			 renewal application;
(b) The
			 renewal fee;
(c) A statement of
			 current license status from the insurance department of the state of residence
			 of the licensee, if the licensee is a non-resident licensee; and
(d) Evidence of current Federal Crop
			 Insurance Corporation certification, if the applicant is a crop insurance
			 adjuster.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0135 - Renewal of Expired Adjuster or Insurance Consultant License

Current through Register Vol. 63, No. 7, July 1, 2024
(1) When an expired
			 licensed of an individual is renewed under ORS
			 744.009,
			 the renewed license expires biennially in the month of the individual's
			 birthday anniversary.
(2) When an
			 expired license of a person other than an individual is renewed under ORS
			 744.009,
			 the expiration date of the renewed license shall be the same as the expiration
			 date of the initial license.
Statutory/Other Authority: ORS
				  731.244
Statutes/Other Implemented: ORS
				  744.009
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0140 - License Amendment

Current through Register Vol. 63, No. 7, July 1, 2024
An applicant for an amendment to an adjuster or insurance
				consultant license shall apply electronically in the manner provided for
				application for the initial license under ORS
				744.001.
Statutory/Other Authority: ORS
				  731.244,
				  731.804,
				  744.001,
				  744.003,
				  744.535,
				  744.619  & 744.621
Statutes/Other Implemented: ORS
				  744.001,
				  744.003,
				  744.535,
				  744.619  & 744.621
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0145 - Amended License Issuance

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 When the Director determines that an applicant for an amendment to a license
			 satisfies all applicable requirements, the Director shall issue to the
			 applicant a license incorporating the amendment.
(2) A license issued under this rule expires
			 on the same date that the preceding license would have expired, unless OAR
			 836-071-0130(5)
 
			 applies to the preceding license.
Statutory/Other Authority: ORS 731 & 744
Statutes/Other Implemented: 744.007 &
				  744.009
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0146 - Individual Insurance Producer License Expiration Date

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A license issued to an individual
			 insurance producer expires biennially in the month of the individual's birthday
			 anniversary.
(2) For the purpose of
			 making the transition to renewal according to birth date month as provided in
			 this rule, a license of an individual insurance producer that would have
			 expired on or after the effective date of this rule according to ORS
			 744.072expires instead in the birth date month next following the former
			 expiration date.
Stat. Auth.: ORS
				  731.244,
				  744.072
Stats. Implemented: ORS
				  744.072
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0148 - Extended License Expiration Date, Active Military Duty and Other Extenuating Circumstances

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An
			 individual insurance producer who is unable to comply with license renewal
			 procedures due to military service or another extenuating circumstance such as
			 a long term medical disability may request a waiver from compliance with those
			 procedures as authorized by ORS
			 744.072, as provided in this
			 rule. The waiver may include an extension of the expiration date of the license
			 as provided in this rule.
(2) An
			 individual insurance producer who is ordered by a branch of the armed forces of
			 the United States into active military duty may obtain an extension of the
			 expiration date of the license for the period of time provided in this section.
			 The extended expiration date is established for a license as follows:
(a) By adding the number of days the licensee
			 served on active duty to the date on which the licensee is released from active
			 duty, if the license would otherwise have expired during the period of active
			 duty; or
(b) By adding the number
			 of days the licensee served on active duty to the date on which the license of
			 the licensee expires, if the license would otherwise have expired after the
			 date on which the licensee is released from active duty.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0150 - Errors and Omissions Insurance; Insurance Consultants; Managing General Agents

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The amount
			 of insurance for which an insurance consultant must maintain a certificate of
			 errors and omissions insurance with the Director as required by ORS
			 744.635 is $500,000 claims made
			 or per occurrence.
(2) The amount
			 of insurance for which a managing general agent as described in ORS
			 744.300 must maintain a
			 certificate of errors and omissions insurance with the Director as required by
			 ORS 744.303is $500,000 claims made or per occurrence.
(3) A managing general agent or an insurance
			 consultant may obtain insurance required by ORS
			 744.303 or
			 744.635 from an insurer other
			 than an authorized insurer if the insurer does not control or is not controlled
			 by, or is not under common control with, the managing general agent or
			 insurance consultant, whether directly or indirectly through one or more
			 intermediaries, and if:
(a) The insurer is an
			 eligible surplus lines insurer pursuant to the requirements of ORS
			 735.400 to
			 735.495 and the insurance is
			 procured by a surplus lines licensee;
(b) The insurer is an authorized insurer in
			 the state of domicile of the insurance consultant or managing general agent for
			 whom the insurance is obtained; or the state of domicile of the applicant for
			 either such license; or
(c) The
			 insurance is procured from an Oregon surplus lines insurer that is eligible in
			 the state of domicile of the insurance consultant or managing general agent, or
			 applicant for either such license, if all requirements of this subsection are
			 satisfied. The insurance for purposes of this subsection must be confirmed by
			 the signature of an Oregon surplus lines licensee. The Oregon surplus lines
			 licensee must also affirm in writing that the Oregon surplus lines licensee
			 will be the agent for service of process for any action or proceeding involving
			 the insurance consultant or managing general agent and an Oregon
			 resident.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0160 - Errors and Omissions Insurance; Reinsurance Intermediary Managers

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The amount of
			 insurance for which a reinsurance intermediary manager must maintain a
			 certificate of errors and omissions insurance with the Director as required by
			 ORS 744.818, is $500,000 claims made
			 or per occurrence.
(2) A
			 reinsurance intermediary manager may obtain insurance required by ORS
			 744.818, from an insurer other
			 than an authorized insurer if the insurer does not control or is not controlled
			 by, or is not under common control with, the reinsurance intermediary manager,
			 whether directly or indirectly through one or more intermediaries, and if:
(a) The insurer is an eligible surplus lines
			 insurer pursuant to the requirements of ORS
			 735.400 to
			 735.495 and the insurance is
			 procured by a surplus lines licensee;
(b) The insurer is an authorized insurer in
			 the state of domicile of the reinsurance intermediary manager for whom the
			 insurance is obtained; or the state of domicile of the applicant for the
			 license; or
(c) The insurance is
			 procured from an Oregon surplus lines insurer that is eligible in the state of
			 domicile of the reinsurance intermediary manager or applicant for the license,
			 if all requirements of this subsection are satisfied. The insurance for
			 purposes of this subsection must be confirmed by the signature of an Oregon
			 surplus lines licensee. The Oregon surplus lines licensee must also affirm in
			 writing that the Oregon surplus lines licensee will be the agent for service of
			 process for any action or proceeding involving the reinsurance intermediary
			 manager and an Oregon resident.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0180 - Insurance Producer Pre-Examination Requirements

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An applicant for a license as an
			 insurance producer may take an examination for the license only if the
			 applicant first qualifies for the examination by:
(a) Satisfying pre-licensing education
			 requirements of section (2) of this rule; or
(b) Satisfying the experience requirements of
			 section (6) of this rule.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0185 - Qualification of Agents Selling Variable Life Insurance, Including Variable Annuities

Current through Register Vol. 63, No. 7, July 1, 2024
A person shall not solicit, place or procure variable life
				insurance contracts or policies, including variable annuities, unless the
				person is licensed as authorized by OAR 441-175-0120  or by OAR
				441-175-0130.
Statutory/Other Authority: ORS
				  731.244
Statutes/Other Implemented: ORS
				  744.062
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0190 - Registration of a School

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Each
			 school, other than a community college or four-year college or university,
			 offering an insurance instruction program shall register with the Director in
			 order to provide pre-examination training for applicants for insurance producer
			 licenses. Each school shall apply for registration annually on a form provided
			 by the Director.
(2) The
			 application shall contain:
(a) The business
			 name, main business address and business telephone number of the school and the
			 name of an individual employed by the school whom the Director may
			 contact;
(b) A detailed description
			 of the school's insurance training program that shall, for each part, include
			 the course outline and list of source materials, instructor's lesson plans,
			 student outline, proposed student attendance record forms, proposed student
			 progress record forms and enrollment contract form including refund
			 policy;
(c) The names of persons
			 authorized to certify records or statements regarding training taken by
			 applicants;
(d) A list of principal
			 officers and directors if the school is a firm or corporation;
(e) A certification that the training offered
			 or proposed to be offered includes subject matter equivalent to the examination
			 outline adopted by the Insurance Division.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0195 - Revocation of Registration of a School; Reinstatement

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The registration of an insurance school
			 providing pre-examination training may be revoked by the Director if the
			 Director determines that:
(a) The insurance
			 training program as registered is not being taught; or
(b) Students who have not maintained a
			 satisfactory attendance record or have not completed course work have been
			 certified by the school for the insurance producer license
			 examination.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0210 - Statutory Authority; Purpose

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 OAR 836-071-0210  to 836-071-0250  are adopted under the authority of ORS
			 731.244 and
			 744.072 for the purpose of
			 implementing 744.072, relating to continuing
			 education for insurance producers. The purpose of OAR 836-071-0210  to
			 836-071-0250  is to establish requirements and standards for the program for
			 licensees.
(2) The purpose of the
			 continuing education program is to promote trustworthy and competent insurance
			 services for the public by requiring a sufficient number of hours for insurance
			 training.
Stat. Auth.: ORS
				  731.244 &
				  744.072
Stats. Implemented: ORS
				  744.072
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0215 - Continuing Education Requirements for Insurance Producers; Hours; Credit for Experience and Coursework

Current through Register Vol. 63, No. 7, July 1, 2024
Each resident insurance producer is responsible for obtaining
				the credit hours required by this rule by enrolling in courses approved by the
				Director that serve the insurance producer's professional needs. The following
				minimum continuing education requirements apply to resident insurance producers
				as a condition of renewing a license as insurance producer:
(1) For each two year renewal period
			 occurring after issuance of an insurance producer license that an insurance
			 producer holds an insurance producer license, the insurance producer must
			 complete 12 hours of continuing education annually or 24 hours in each two-year
			 renewal period; and
(2) For each
			 two year renewal period occurring after issuance of an insurance producer
			 license, the renewing insurance producer must include in the applicable
			 required hours of completed continuing education:
(a) At least three credit hours of continuing
			 education on the subject of Oregon statutes and administrative rules, including
			 recent changes;
(b) At least three
			 credit hours of continuing education of the subject of professional ethics for
			 insurance producers; and
(c) For a
			 producer that negotiates, sells, or solicits flood insurance, at least two
			 credit hours of continuing education on any combination of the following
			 subjects: current state and federal laws relating to flood insurance, the
			 National Flood Insurance Program, or private flood insurance.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0220 - Continuing Education; Documentation

Current through Register Vol. 63, No. 7, July 1, 2024
(1) For the purpose of furnishing evidence of
			 completion of a course for which an insurance producer claims credit, the
			 documentation applicable to the course shall be submitted as follows:
(a) For a registered course taken for
			 academic credit, to the extent possible, the institution offering the course
			 shall submit electronically a transcript, certificate of completion or grade or
			 course completion report, whichever is issued by the institution offering the
			 course, or a copy thereof. If it is not possible for the institution offering
			 the course to submit a transcript, certificate of completion or grade or course
			 completion report, the insurance producer shall submit the transcript,
			 certificate of completion or grade or course completion report in accordance
			 with directions provided on the Division of Financial Regulation website of the
			 Department of Consumer and Business Services at dfr.oregon.gov. For purposes of
			 this subsection, a course is taken for academic credit if it is offered by a
			 community college or four-year college or university, and the insurance
			 producer is given academic credit for the course by such an
			 institution;
(b) For coursework
			 taken for the purpose of obtaining a nationally-recognized insurance industry
			 designation, to the extent possible the entity granting the designation shall
			 submit electronically directly to the Division of Financial Regulation, a
			 transcript, certificate of completion or grade or course completion report,
			 whichever is issued by the entity granting the designation;
(c) For a registered course that is not
			 offered for academic credit, the provider shall submit to the department
			 electronically course completion information. The information must include a
			 statement of the hours of credit, the name of the insurance producer, the date
			 of the course, the course registration number;
(d) For a course that is not offered for
			 academic credit and is not registered when taken by an insurance producer, an
			 insurance producer must comply with the requirements of OAR
			 836-071-0250.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0225 - Continuing Education; Standards for Granting Credit Hours

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Subject to the subject matter
			 requirements of OAR 836-071-0230, an insurance producer may receive credit for
			 continuing education for a course taken for academic credit, for a course
			 registered under OAR 836-071-0240  or a course certified under OAR 836-071-0250:
(a) For not more than the credit hours
			 authorized by the director;
(b)
			 Only if an hour includes at least 50 minutes of instruction or study;
(c) For class hours in which an insurance
			 producer is an instructor of a course if the course meets the continuing
			 education requirements of an insurance producer attending it. Credit may be
			 taken by an insurance producer with respect to a course only once in each
			 renewal period in which the insurance producer instructs the course;
(d) For not more than eight credit hours in
			 any given day;
(e) Only if the hour
			 for which credit is taken was completed during the license period immediately
			 preceding the renewal date;
(f) For
			 a course taken through independent study, but only as provided in section (4)
			 of this rule.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0230 - Continuing Education; Course Qualification Guidelines

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An insurance producer may receive credit
			 for a course on one or more of the following general subject matters if the
			 course also meets the requirements of OAR 836-071-0225:
(a) Rating;
(b) Insurance fundamentals;
(c) Tax laws related to the license
			 class;
(d) Policy
			 contents;
(e) Proper uses of
			 insurance products;
(f) Oregon
			 Insurance Code and administrative rules;
(g) Technical information related to the
			 insurance license classes of general lines, life and health;
(h) Insurance law;
(i) Insurance policies and
			 coverage;
(j) Contract
			 law;
(k) Insurance needs;
(l) Insurance risk management;
(m) Ethics;
(n) Estate planning;
(o) Pension plans;
(p) Financial planning;
(q) Accounting;
(r) Finance;
(s) General underwriting
			 principles;
(t) Prevention of
			 errors and omissions;
(u) Office
			 management, client relations or improving the operations of the insurance
			 producer's business, or any combination thereof;
(v) Any other subject matter that the
			 Director determines will enhance the ability of an insurance producer to
			 provide insurance services to the public effectively.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0235 - Provider Registration

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A
			 provider of continuing education courses must register with the Director in
			 order to register courses under OAR 836-071-0240. A provider must register
			 electronically in the method required by the Director. The registration of a
			 provider shall include the provider's business name, main business address, the
			 business telephone number, email address and the name of a contact person. If a
			 provider is a firm or corporation or a trade association, registration shall
			 also include the names of all principal officers.
(2) A provider shall notify the Director of
			 any change in the address, telephone number, email address or contact person of
			 the provider within 30 days after any such change takes effect.
(3) Subject to revocation of registration
			 under OAR 836-071-0245, a provider registration expires on the second January 1
			 following the date of registration.
(4) A provider is subject to rejection of
			 registration by the Director if the provider fails to meet any requirement of
			 OAR 836-071-0215  to 836-071-0250  applicable to the provider or to courses
			 offered by the provider, or if any of its employees or contractors who
			 supervise or conduct and certify completion of a course:
(a) Has a history of noncompliance with
			 insurance statutes or rules; or
(b)
			 Has had an insurance producer license or other insurance license revoked,
			 suspended or refused because of violations of or noncompliance with insurance
			 statutes or rules.
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0242 - Provider Trade Practices

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A
			 registered provider shall not engage in false, misleading or deceptive
			 advertising.
(2) A registered
			 provider must disclose in writing the charges for a course to each insurance
			 producer applying to take the course, prior to enrollment of the insurance
			 producer.
(3) If a registered
			 provider cancels a course for any reason, the provider must refund all charges
			 in full unless the refund policy is clearly described in the enrollment
			 application for the course.
(4) A
			 registered provider shall ensure that each registered course and each course
			 for which registration is sought provides students with current and accurate
			 information.
(5) A registered
			 provider shall include a statement in all material published by the provider to
			 advertise or promote insurance license continuing education that the provider
			 and courses are registered with the Insurance Division and that registration
			 does not imply endorsement by the Insurance Division.
(6) A registered provider may not advertise
			 continuing education hours until the course has been approved by the Division.
			 If approval has been applied for, however, a registered provider may so
			 advertise.
Stat. Auth.: ORS
				  731.244 &
				  744.072
Stats. Implemented: ORS
				  744.072
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0245 - Revocation of Provider Registration

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The Director may revoke the registration
			 of a provider if a course does not meet the requirements of OAR 836-071-0225  and 836-071-0230  or if the provider violates 836-071-0242.
(2) A provider whose registration has been
			 revoked under this rule may apply to the Director for reinstatement of the
			 registration not sooner than the 60th day after revocation.
(3) The Director may reinstate a revoked
			 registration if the Director determines, from proof furnished to the Director,
			 that the conditions responsible for the revocation have been
			 corrected.
Stat. Auth.: ORS
				  731.244 &
				  744.119
Stats. Implemented: ORS
				  744.119
Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0247 - Requirements for Granting Credit; Attendance Records

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A registered provider shall provide the
			 Director with the meeting times and places of a registered course not later
			 than the tenth day before the date that the course is given.
(2) A registered provider shall not give
			 credit for a course unless the Director has approved the registration
			 application for the course and the registered provider has given the Director
			 notice of the meeting of the course as provided in section (1) of this
			 rule.
(3) A registered provider of
			 lecture courses shall maintain an accurate record of each course offered,
			 instructors and student attendance records for not less than three years after
			 the date of completion of the course.
(4) A provider of an independent study course
			 shall maintain examination results and proctor affidavits for not less than
			 three years after the date of course completion.
(5) A provider of an independent study course
			 shall notify all vendors of the provider's course materials when credit hours
			 for the course have changed or when the course is discontinued.
(6) A course that is registered in this state
			 pursuant to OAR 836-071-0240(8)  shall be allocated the times and credits
			 determined pursuant to the Midwest Zone Continuing Education Reciprocity
			 Agreement.
Stat. Auth.: ORS
				  731.244, ORS
				  744.119 & sec. 12, Enrolled
				  SB 268 (2001 Reg. Session)
Stats. Implemented: ORS
				  744.119 & sec. 12, Enrolled
				  SB 268 (2001 Reg. Session)