Department authorization of agency insurance purchases; exceptions. (1) A state agency may not purchase insurance except as authorized by the Oregon Department of Administrative Services and in accordance with the terms, conditions and procurement methods as may be established by the department, except for the transaction of workers’ compensation insurance and reinsurance business by the State Accident Insurance Fund Corporation

(2) This section does not apply to:

(a) Professional liability insurance acquired under ORS 9.080 (2);

(b) Insurance for employee benefits; or

(c) Loan cancellation life insurance procured by the Department of Veterans’ Affairs under ORS 407.465. [1985 c.731 §3; 2009 c.29 §2]

INSURANCE FUND