Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 43 - WORKERS'COMPENSATION INSURANCE RATING SYSTEM AND AUDIT PROCEDURES › Section 836-043-0021 - Servicing Carriers

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The
			 Plan Administrator shall establish written requirements that insurers must meet
			 in order to be eligible to act as a servicing carrier. The Plan Administrator
			 shall provide the written requirements to the board for review and acceptance.
			 From among those insurers that are eligible and have applied to act as a
			 servicing carrier, and subject to approval by the Insurance Commissioner, the
			 Plan Administrator shall select a sufficient number of servicing carriers that
			 are needed to handle the assignments made pursuant to the Plan. The Plan
			 Administrator may confer with the board in regard to the number of servicing
			 carriers needed to handle the assignments made pursuant to this Plan. Subject
			 to approval by the Insurance Commissioner, the Plan Administrator may terminate
			 the servicing carrier status of any insurer that fails to meet the servicing
			 carrier requirements on a continuing basis.
(2) In order to be a servicing carrier, an
			 insurer must meet all of the following eligibility criteria:
(a) Be licensed to write workers'
			 compensation and employers liability insurance in Oregon or be the State
			 Accident Insurance Fund Corporation.
(b) Be writing or be an affiliated insurer of
			 a carrier that is currently licensed and actively writing voluntary workers'
			 compensation and employers liability insurance premium in Oregon and that has
			 been licensed and writing in Oregon for each of the five calendar years
			 immediately preceding the first effective year of the proposed contract, or be
			 licensed and actively writing workers' compensation and employers liability
			 insurance in Oregon for a minimum of the most recent three calendar years
			 immediately preceding the first effective year of the proposed contract and
			 active as a workers' compensation servicing carrier in any other national
			 workers' compensation reinsurance organization in another state for a minimum
			 of five calendar years immediately preceding the first effective year of the
			 proposed contract.
(c) Be assigned
			 and maintain at a minimum an "A-" rating as published by A.M. Best, except that
			 such "A-" A.M. Best rating is not applicable to the State Accident Insurance
			 Fund Corporation.
(d) Maintain the
			 necessary staff and facilities to comply with the procedures, Assigned Carrier
			 Performance Standards, financial reporting requirements, and Plan
			 requirements.
(e) Comply with all
			 applicable statutory and regulatory requirements, including but not limited to,
			 statutes, regulations, codes, rules, acts, directives, bulletins, announcements
			 and circulars.
(f) Be either
			 precertified in writing by the Plan Administrator or have achieved and
			 maintained and not be subject to a revocation of precertification or
			 certification status as determined by the Plan Administrator under the
			 applicable precertification or certification program established by the Plan
			 Administrator.
(g) Comply with all
			 mandatory electronic processing and reporting requirements of the Plan
			 Administrator that are currently in effect.
(h) Comply with all federal and state laws
			 and regulations, which relate to the policies applicable to the servicing
			 carrier.