Chapter 731 — Chapter 731

ORS 731.132 “Required capitalization.” “Required capitalization” means the minimum combined paid-up capital and surplus required by the Insurance Code of a stock insurer, or the minimum surplus so required of an insurer without capital stock. [1967 c.359 §27]

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ORS 731.136 “State.” When used in context signifying a jurisdiction other than the State of Oregon, “state” means any state, district, territory, commonwealth or possession of the United States of America. [1967 c.359 §28; 2001 c.191 §22]

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ORS 731.140 [Repealed by 1965 c.241 §3]

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ORS 731.142 “Stock,” “mutual” and “reciprocal” insurer. (1) “Stock insurer” means an incorporated insurer whose capital is divided into shares and owned by its stockholders

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ORS 731.144 “Surplus lines insurance.” “Surplus lines insurance” means any insurance on an Oregon home state risk, permitted to be placed through a surplus lines licensee with a nonadmitted insurer eligible to accept such insurance, other than reinsurance, wet marine and transportation insurance, independently procured insurance, life insurance and health insurance and annuities. For purposes of this section, “home state” has the meaning given that term in ORS 735.405. [1987 c.774 §113; 1991 c.810 §24; 2011 c.660 §20]

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ORS 731.146 “Transact insurance.” (1) “Transact insurance” means one or more of the following acts effected by mail or otherwise

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ORS 731.150 Definitions of classes of insurance not mutually exclusive. It is intended that certain insurance coverages may come within the definitions of two or more classes of insurance as defined in the Insurance Code, and the inclusion of such coverage within one definition shall not exclude it as to any other class of insurance within the definition of which such coverage is likewise reasonably includable. [1967 c.359 §32]

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ORS 731.154 “Annuity.” (1) “Annuity” or “annuity policy” means any agreement to make periodic payments, whether fixed or variable in amount, where the making of all or some of such payments, or the amount of any such payment, is dependent upon the continuance of human life, except payments made pursuant to the settlement provisions of a life insurance policy, and includes additional benefits operating to safeguard the policy from lapse or to provide a special surrender value or special benefit or annuity in the event of total and permanent disability of the annuitant

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ORS 731.156 “Variable life insurance”; “variable annuity.” “Variable life insurance” and “variable annuity” mean forms of life insurance or annuity benefits, respectively, that vary according to the investment experience of a separate account or accounts maintained by the insurer with respect to policies providing such benefits or are securities under the Securities Act of 1933, 15 U.S.C. 77a et seq., as in effect on January 1, 2024, that vary according to the performance of a benchmark index, rate or fund if the principal or minimum rate of interest is not guaranteed and might be subject to a market value adjustment. For convenience, reference to “variable life insurance” in the Insurance Code includes variable life insurance and variable annuities as defined in this section, except if the inclusion of variable annuities obviously is inapplicable or if the context requires, or the Insurance Code provides, otherwise. [1973 c.435 §2; 2023 c.143 §3]

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ORS 731.158 “Casualty insurance.” “Casualty insurance” means

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ORS 731.162 “Health insurance.” “Health insurance” means insurance of humans against bodily injury, disablement or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness or childbirth, or against expense incurred in prevention of sickness, in dental care or optometrical service, and every insurance appertaining thereto, including insurance against the risk of economic loss assumed under a less than fully insured employee health benefit plan. “Health insurance” does not include workers’ compensation coverages. [1967 c.359 §35; 1993 c.649 §6]

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ORS 731.164 “Home protection insurance,” “home protection insurer.” (1)(a) “Home protection insurance” means that part of casualty insurance that includes only insurance which undertakes to perform or provide repair or replacement service or indemnification therefor for the operational or structural failure of the insured home, components of the home or personal property relating to the home or its components, and does not include protection against consequential damage from the operational or structural failure

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ORS 731.166 “Industrial life insurance.” “Industrial life insurance” means that form of life insurance written under policies of face amount of $2,500 or less, under which premiums are payable monthly or more often and the policy specifies it is an industrial life insurance policy. [1967 c.359 §36]

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ORS 731.170 “Life insurance”; includes annuities. (1) “Life insurance” means insurance on human lives and every insurance appertaining thereto and includes the granting of endowment benefits, additional benefits in event of death or dismemberment by accident or accidental means, additional benefits in event of the insured’s or premium payer’s disability and optional modes of settlement of proceeds of life insurance including annuity benefits payable under such a settlement provision. “Life insurance” does not include workers’ compensation coverages

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ORS 731.174 “Marine and transportation insurance.” “Marine and transportation insurance” includes

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ORS 731.178 “Mortgage insurance.” “Mortgage insurance” means insurance against financial loss by reason of

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ORS 731.182 “Property insurance.” “Property insurance” means insurance on real or personal property of every kind and of every interest therein, whether on land, water or in the air, against loss or damage from any and all hazard or cause, and against consequential loss from such loss or damage, other than noncontractual legal liability for loss or damage. “Property insurance” does not include title insurance. [1967 c.359 §40]

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ORS 731.186 “Surety insurance.” “Surety insurance” means insurance guaranteeing the fidelity of persons holding places of trust, the performance of duties, contracts, bonds and undertakings, including the signing thereof as surety, and insuring the performance of obligations of employers under workers’ compensation laws by surety bond. [1967 c.359 §41]

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ORS 731.190 “Title insurance.” “Title insurance” means insurance of owners of property or others having an interest therein or liens or encumbrances thereon, against loss by encumbrance, defective titles, invalidity or adverse claim to title. [1967 c.359 §42]

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ORS 731.194 “Wet marine and transportation insurance.” “Wet marine and transportation insurance” is that part of marine and transportation insurance that includes only

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ORS 731.204 [Formerly 736.495; repealed by 1987 c.373 §85]

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ORS 731.208 [Formerly 736.500; repealed by 1987 c.373 §85]

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ORS 731.212 [1967 c.359 §46; repealed by 1987 c.373 §85]

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ORS 731.216 Administrative power of director. The Director of the Department of Consumer and Business Services shall have the power to

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ORS 731.220 [Formerly 736.507; repealed by 1987 c.373 §85]

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ORS 731.224 [1967 c.359 §49; repealed by 1987 c.373 §85]

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ORS 731.228 Prohibited interests and rewards. (1) No officer or employee of the Department of Consumer and Business Services delegated responsibilities in the enforcement of the Insurance Code shall

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ORS 731.232 Subpoena power. (1) For the purpose of an investigation or proceeding under the Insurance Code, the Director of the Department of Consumer and Business Services may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence and require the production of books, papers, correspondence, memoranda, agreements or other documents or records which the director considers relevant or material to the inquiry. Each witness who appears before the director under a subpoena shall receive the fees and mileage provided for witnesses in ORS 44.415 (2)

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ORS 731.236 General powers and duties. (1) The Director of the Department of Consumer and Business Services shall enforce the provisions of the Insurance Code for the public good, and shall execute the duties imposed by the code

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ORS 731.240 Hearings in general. (1) The Director of the Department of Consumer and Business Services shall hold a hearing upon written demand for a hearing by a person aggrieved by any act, threatened act or failure of the director to act. The demand must state the grounds therefor

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ORS 731.244 Rules. In accordance with the applicable provisions of ORS chapter 183, the Director of the Department of Consumer and Business Services may make reasonable rules necessary for or as an aid to the effectuation of the Insurance Code. No such rule shall extend, modify or conflict with the Insurance Code or the reasonable implications thereof. [1967 c.359 §54]

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ORS 731.248 Orders. (1) Orders of the Director of the Department of Consumer and Business Services shall be effective only when in writing and signed by the director or by the authority of the director. Orders shall be filed in the Department of Consumer and Business Services

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ORS 731.252 Cease and desist orders. (1) Whenever the Director of the Department of Consumer and Business Services has reason to believe that any person has been engaged or is engaging or is about to engage in any violation of the Insurance Code, the director may issue an order, directed to such person, to discontinue or desist from such violation or threatened violation. The copy of the order forwarded to the person involved shall set forth a statement of the specific charges and the fact that the person may request a hearing within 20 days of the date of mailing. Where a hearing is requested, the director shall set a date for the hearing to be held within 30 days after receipt of the request, and shall give the person involved written notice of the hearing date at least seven days prior thereto. The person requesting the hearing must establish to the satisfaction of the director that such order should not be complied with. The order shall become final 20 days after the date of mailing unless within such 20-day period the person to whom it is directed files with the director a written request for a hearing. To the extent applicable and not inconsistent with the foregoing, the provisions of ORS chapter 183 shall govern the hearing procedure and any judicial review thereof. Where the hearing has been requested, the director’s order shall become final at such time as the right to further hearing or review has expired or been exhausted

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ORS 731.256 Enforcement generally; restitution. (1) The Director of the Department of Consumer and Business Services may institute actions or other lawful proceedings that the director deems necessary to enforce a provision of the Insurance Code or any order or action the director makes or takes in pursuance of law

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ORS 731.258 Enforcement of orders and decisions by Attorney General; filing, enforcement and effect of foreign decrees. (1) The Attorney General upon request of the Director of the Department of Consumer and Business Services may proceed in the courts of this state or any reciprocal state to enforce an order or decision in any court proceeding or in any administrative proceeding before the director

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ORS 731.259 Requirement for written notice to insured; rules. (1) The Department of Consumer and Business Services may require an insurer to provide a written notice to an insured to fully effectuate any law the department is responsible for enforcing, including, but not limited to, laws regarding

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ORS 731.260 False or misleading filings. No person shall file or cause to be filed with the Director of the Department of Consumer and Business Services any article, certificate, report, statement, application or any other information required or permitted to be so filed under the Insurance Code and known to such person to be false or misleading in any material respect. [Formerly 736.650]

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ORS 731.264 Complaints and investigations confidential; permitted disclosures; rules. (1) A complaint made to the Director of the Department of Consumer and Business Services against any person regulated by the Insurance Code, and the record of the complaint, is confidential and may not be disclosed except as provided in ORS 705.137. The complaint, and the record of the complaint, may not be used in any action, suit or proceeding except to the extent the director considers necessary in prosecuting apparent violations of the Insurance Code or other law

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ORS 731.268 Use of reproductions and certified copies as evidence; fee. (1) Photographs or microphotographs in the form of film or prints of documents and records made by the Director of the Department of Consumer and Business Services for the files of the director shall have the same force and effect as the originals thereof, and duly certified or authenticated reproductions of such photographs or microphotographs shall be as admissible in evidence as are the originals

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ORS 731.272 Director’s annual reports; notice of publication of report. (1) The Director of the Department of Consumer and Business Services shall prepare annually, as soon after March 1 as is consistent with full and accurate preparation, a report of the official transactions of the director under the Insurance Code. The report shall include

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ORS 731.276 Recommendations for changes in Insurance Code. The Director of the Department of Consumer and Business Services shall continuously review the Insurance Code and shall work with the Director of the Oregon Health Authority to review the health insurance provisions of the Insurance Code and may, from time to time, make recommendations for changes therein. [1967 c.359 §62; 2009 c.595 §1117]

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ORS 731.280 Publications authorized. The Director of the Department of Consumer and Business Services shall publish

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ORS 731.282 Authority to sell publications. The Director of the Department of Consumer and Business Services may sell, at a price reasonably calculated to cover the costs of preparation, any of the copies, compilations or materials described in ORS 731.280. [1971 c.231 §2; 1982 s.s.1 c.17 §3]

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ORS 731.284 Distribution of insurance laws. Copies of the insurance laws in pamphlet form may be sold by the Director of the Department of Consumer and Business Services at a reasonable price. The director may distribute free of charge one copy of such pamphlet to each of the following

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ORS 731.288 Recording complaints; director to consider complaints before issuing licenses. The Department of Consumer and Business Services shall record each complaint the department receives, including the subsequent disposition of the complaint. The record of a complaint shall be maintained for a period of not less than seven years. The records of complaints shall be indexed whenever applicable both by the name of the insurer and by the name of the insurance producer involved. The Director of the Department of Consumer and Business Services shall consider such complaints before issuing or continuing any certificate of authority or license of an insurer or insurance producer named in such complaints. [Formerly 736.580; 2003 c.364 §66; 2003 c.802 §168]

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ORS 731.292 (1) Except as provided in subsections (2), (3) and (4) of this section, all fees, charges and other moneys received by the Department of Consumer and Business Services or the Director of the Department of Consumer and Business Services under the Insurance Code shall be deposited in the fund created by ORS 705.145 and are continuously appropriated to the department for the payment of the expenses of the department in carrying out the Insurance Code

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ORS 731.296 Director’s inquiries. The Director of the Department of Consumer and Business Services may address any proper inquiries to any insurer, licensee or its officers in relation to its activities or condition or any other matter connected with its transactions. Any such person so addressed shall promptly and truthfully reply to such inquiries using the form of communication requested by the director. The reply shall be verified by an officer of such person, if the director so requires. A reply is subject to the provisions of ORS 731.260. [Formerly 736.542; 1975 c.298 §1]

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ORS 731.300 Examination of insurers; when required. (1) The Director of the Department of Consumer and Business Services shall examine every authorized insurer, including an audit of the financial affairs of such insurer, as often as the director determines an examination to be necessary but at least once each five years. An examination shall be conducted for the purpose of determining the financial condition of the insurer, its ability to fulfill its obligations and its manner of fulfillment, the nature of its operations and its compliance with the Insurance Code. The director may also make such an examination of any surplus lines insurance producer or any person holding the capital stock of an authorized insurer or surplus lines insurance producer for the purpose of controlling the management thereof as a voting trustee or otherwise, or both

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ORS 731.302 Appointment of examiners; retaining of appraisers, actuaries and others; evidentiary status of facts and conclusions. (1) When the Director of the Department of Consumer and Business Services determines that an examination should be conducted, the director shall appoint one or more examiners to perform the examination and instruct them as to the scope of the examination. In conducting the examination, each examiner shall consider the guidelines and procedures in the examiner handbook, or its successor publication, adopted by the National Association of Insurance Commissioners. The director may prescribe the examiner handbook or its successor publication and employ other guidelines and procedures that the director determines to be appropriate

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ORS 731.304 Investigation of persons transacting insurance. The Director of the Department of Consumer and Business Services, whenever the director deems it advisable in the interest of policyholders or for the public good, shall investigate into the affairs of any person engaged in, proposing to engage in or claiming or advertising to engage in

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