Oregon Administrative Code

836-011-0305 Definitions As used in OAR 836-011-0300 to 836-011-0390: (1) "Adjusted RBC report" means a risk-based capital (RBC) report that has been adjusted by the director in accordance with OAR 836-011-0310(5). (2) "Corrective order" means an order issued by the director spec…

836-011-0310 RBC Reports (1) Each domestic insurer shall, on or prior to each March 1 (the "filing date"), prepare and submit to the Director a report of its RBC levels as of the end of the calendar year just ended, in a form and containing such information as is required by the …

836-011-0320 Company Action Level Event (1) “Company action level event” means any of the following events: (a) The filing of an RBC report by an insurer indicating that: (A) The insurer’s total adjusted capital is greater than or equal to its regulatory action level RBC but less…

836-011-0330 Regulatory Action Level Event (1) “Regulatory action level event” means, with respect to an insurer, any of the following events: (a) The filing of an RBC report by the insurer that indicates the insurer’s total adjusted capital is greater than or equal to its author…

836-011-0340 Authorized Control Level Event (1) “Authorized control level event” means any of the following events: (a) The filing of an RBC report by the insurer indicating that the insurer’s total adjusted capital is greater than or equal to its mandatory control level RBC but …

836-011-0350 Mandatory Control Level Event (1) “Mandatory control level event” means any of the following events: (a) The filing of an RBC report indicating that the insurer’s total adjusted capital is less than its mandatory control level RBC; (b) Notification by the Director to…

836-011-0360 Hearings An insurer may request a hearing, as provided in ORS 731.240, for the purpose of challenging any determination or action by the Director in connection with any event described in this rule. The insurer shall notify the Director of its request for a hearing n…

836-011-0380 Supplemental Provisions; Exemption (1) 836-011-0300 to 836-011-0390 are supplemental to any other provisions of the laws of this state, and do not preclude or limit any other powers or duties of the Director under such laws, including, but not limited to, OAR 836-011…

836-011-0390 Foreign Insurers (1) A foreign insurer shall, upon the written request of the Director, submit to the Director an RBC report as of the end of the calendar year just ended on the later of: (a) The date by which an RBC report would be required to be filed by a domestic…

836-011-0430 Scope and Authority (1) OAR 836-011-0430 to 836-011-0460 apply to all domestic insurers and to all domestic health care service contractors under ORS 750.055 and multiple employer welfare arrangements under 750.333. For purposes of OAR 836-011-0430 to 836-011-0460, “…

836-011-0440 Report (1) Every domestic insurer shall file a report with the Director of the Department of Consumer and Business Services disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations or revisions of ceded reinsurance agreements…

836-011-0450 Acquisitions and Dispositions of Assets (1) Materiality. No acquisitions or dispositions of assets need be reported pursuant to OAR 836-011-0440 if the acquisitions or dispositions are not material. For purposes of 836-011-0430 to 836-011-0460, a material acquisition…

836-011-0460 Nonrenewals, Cancellations or Revisions of Ceded Reinsurance Agreements (1) Materiality and scope: (a) No nonrenewals, cancellations or revisions of ceded reinsurance agreements need be reported pursuant to OAR 836-011-0440 if the nonrenewals, cancellations or revisi…

836-011-0500 Application; Statutory Authority; Statutes Implemented (1) OAR 836-011-0500 to 836-011-0550 apply to health care service contractors. (2) OAR 836-011-0500 to 836-011-0550 are adopted pursuant to the authority of ORS 731.244 and 750.045 for the purpose of implementing…

836-011-0505 Definitions As used in OAR 836-011-0500 to 836-011-0550: (1) "Adjusted RBC report" means an RBC report that has been adjusted by the Director in accordance with OAR 836-011-0510(4). (2) "Corrective order" means an order issued by the Director specifying corrective ac…

836-011-0510 RBC Reports (1) A domestic health care service contractor shall, on or prior to each March 1 (the "filing date"), prepare and submit to the Director a report of its RBC levels as of the end of the calendar year just ended, in a form and containing such information as…

836-011-0515 Company Action Level Event (1) "Company Action Level Event" means any of the following events: (a)(A) The filing of an RBC report by a health care service contractor that indicates that the health care service contractor's total adjusted capital is greater than or eq…

836-011-0520 Regulatory Action Level Event (1) "Regulatory Action Level Event" means, with respect to a health care service contractor, any of the following events: (a) The filing of an RBC report by the health care service contractor that indicates that the health care service c…

836-011-0525 Authorized Control Level Event (1) "Authorized Control Level Event" means any of the following events: (a) The filing of an RBC report by the health care service contractor that indicates that the health care service contractor’s total adjusted capital is greater tha…

836-011-0530 Mandatory Control Level Event (1) "Mandatory Control Level Event" means any of the following events: (a) The filing of an RBC report that indicates that the health care service contractor’s total adjusted capital is less than its Mandatory Control Level RBC; (b) Noti…

836-011-0535 Hearings Upon the occurrence of any of the following events, a health care service contractor may request a hearing, as provided in ORS 731.240, for the purpose of challenging any determination or action by the Director in connection with any event described in this …

836-011-0540 Supplemental Provisions; Rules; Exemption (1) OAR 836-011-0500 to 836-011-0550 are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the Director under such laws, including, but not limited t…

836-011-0545 Foreign Health Care Service Contractors (1) A foreign health care service contractor shall, upon the written request of the Director, submit to the Director an RBC report as of the end of the calendar year just ended the later of: (a) The date an RBC report would be …

836-011-0600 Report on Services Provided by Expanded Practice Dental Hygienists (1) As used in this rule: (a) “Expanded practice dental hygienist” has the meaning given in ORS 679.010. (b) “Health insurer” includes: (A) An insurer authorized to transact health insurance in Oregon…

836-012-0000 Director's Authority (1) OAR 836-012-0000 to 836-012-0110 are adopted pursuant to ORS 731.508 to 731.514, and general rulemaking authority under ORS 731.244. (2) OAR 836-012-0000 to 836-012-0110 are adopted for the purpose of establishing standards and procedural req…

836-012-0006 Definitions As used in OAR 836-012-0000 to 836-012-0110, “statutory financial statement” means quarterly, annual or other financial statements required by state law. Statutory/Other Authority: 731.244 & ORS 731.508 - 731.511 Statutes/Other Implemented: ORS 731.508 - …

836-012-0011 Credit for Reinsurance — Reinsurer Authorized in this State Pursuant to ORS 731.509(4), the director shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that was authorized in this state as of any date on which statutory financial st…

836-012-0021 Credit for Reinsurance — Accredited Reinsurers (1) Pursuant to ORS 731.509(4) and ORS 731.511, the director shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that is accredited as a reinsurer in this state as of the date on which s…

836-012-0031 Credit for Reinsurance — Reinsurer Domiciled and Licensed in Another State (1) Pursuant to ORS 731.509(6), the director shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that as of any date on which statutory financial statement cr…

836-012-0041 Credit for Reinsurance — Reinsurers Maintaining Trust Funds (1) Pursuant to ORS 731.509(7), the director shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer which, as of any date on which statutory financial statement credit for rein…

836-012-0046 Credit for Reinsurance – Certified Reinsurers (1) Pursuant to ORS 731.511, the director shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that has been certified as a reinsurer in this state at all times for which statutory financi…

836-012-0048 Credit for Reinsurance – Reciprocal Jurisdictions (1) Pursuant to Oregon Laws 2021, chapter 204, section 2, the director shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that is licensed to write reinsurance by, and has its head o…

836-012-0051 Credit for Reinsurance Required by Law Pursuant to ORS 731.511, the director shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of ORS 731.509(4), (5), (6) or (7), or other appropriate provisions contain…

836-012-0060 Asset or Reduction from Liability for Reinsurance Ceded to an Unauthorized Assuming Insurer Not Meeting the Requirements of OAR 836-012-0011 to 836-012-0051 (1) Pursuant to ORS 731.510, the director shall allow a reduction from liability for reinsurance ceded by a do…

836-012-0070 Trust Agreements Qualified under OAR 836-012-0060 (1) As used in this rule: (a) "Beneficiary" includes any successor by operation of law of the named beneficiary, including without limitation any liquidator, rehabilitator, receiver or conservator. (b) "Grantor" means…

836-012-0080 Letters of Credit Qualified under OAR 836-012-0060 (1) A letter of credit for purposes of OAR 836-012-0060 must be clean, irrevocable, unconditional and issued or confirmed by a qualified U.S. financial institution as defined in ORS 731.510(2). The letter of credit s…

836-012-0090 Other Security A ceding insurer may take credit for unencumbered funds withheld by the ceding insurer in the United States subject to withdrawal solely by the ceding insurer and under its exclusive control. Statutory/Other Authority: ORS 731.508 - 731.511 & 731.244 S…

836-012-0100 Reinsurance Contract Credit shall not be granted, nor an asset or reduction from liability allowed, to a ceding insurer for reinsurance effected with assuming insurers meeting the requirements of OAR 836-012-0011, 836-012-0021, 836-012-0031, 836-012-0041 or 836-012-0…

836-012-0110 Contracts Affected All new and renewal reinsurance transactions entered into on and after January 1, 2019, shall conform to the requirements of ORS 731.509 to 731.511 and OAR 836-012-0000 to 836-012-0110 if credit is to be given to the ceding insurer for such reinsur…

836-012-0200 Authority This regulation is adopted and promulgated by the director of the Department of Consumer and Business Services pursuant to ORS 731.244. Statutory/Other Authority: ORS 731.244, ORS 731.508 - 731.511 & 731.514 Statutes/Other Implemented: ORS 731.508 - 731.511…

836-012-0210 Definitions As used in OAR 836-012-0200 to 836-012-0270: (1) “Actuarial Method” means the methodology used to determine the Required Level of Primary Security, as described in OAR 836-012-0250. (2) “Covered Policies” means the following policies (unless such policies…

836-012-0220 Purpose and Intent The purpose and intent of this rule is to establish uniform, national standards governing reserve financing arrangements pertaining to life insurance policies containing guaranteed nonlevel gross premiums, guaranteed nonlevel benefits and universal…

836-012-0230 Applicability This rule applies to reinsurance treaties that cede liabilities pertaining to Covered Policies issued by any life insurance company domiciled in this state. This rule and OAR 836-012-0046 shall both apply to such reinsurance treaties; provided, that in …

836-012-0240 Exemptions from OAR 836-012-0200 to 836-012-0270 OAR 836-012-0200 to 836-012-0270 do not apply to the following: (1) Reinsurance of: (a) Policies that satisfy the criteria for exemption set forth OAR 836-031-0770 (7); and which are issued before the later of: (A) Jan…

836-012-0250 The Actuarial Method (1) The Actuarial Method to establish the Required Level of Primary Security for each reinsurance treaty subject to this regulation shall be VM-20, applied on a treaty-by-treaty basis, including all relevant definitions, from the Valuation Manual…

836-012-0260 Requirements Applicable to Covered Policies to Obtain Credit for Reinsurance; Opportunity for Remediation (1) Subject to the exemptions described in OAR 836-012-0240 and the provisions of OAR 836-012-0260 (2), credit for reinsurance shall be allowed with respect to c…

836-012-0270 Prohibition against Avoidance No insurer that has Covered Policies as to which this rule applies shall take any action or series of actions, or enter into any transaction or arrangement or series of transactions or arrangements if the purpose of such action, transact…

836-012-0300 Authority; Statement of Purpose; Director’s Authority (1) OAR 836-012-0300 to 836-012-0332 are adopted pursuant to the authority of ORS 731.244 and 731.508 for the purpose of implementing ORS 731.508(6). (2) OAR 836-012-0300 to 836-012-0332 apply to each domestic ins…

836-012-0310 Accounting Requirements (1) An insurer that is subject to OAR 836-012-0300 to 836-012-332 shall not, for reinsurance ceded, reduce any liability or establish any asset in any financial statement filed with the Director if by the terms of the reinsurance agreement, in…

836-012-0320 Written Agreements (1) A reinsurance agreement or amendment to any agreement shall not be used to reduce any liability or to establish any asset in any financial statement filed with the Director unless the agreement or amendment or a letter of intent has been duly e…