Title 56, Insurance

The Director of the Department of Consumer and Business Services by rule may establish requirements for continuing education that each insurance consultant must satisfy as a condition for continuation of the license. [1985 c.697 §14] THIRD PARTY ADMINISTRATORS

As used in ORS 744.700 to 744.740: (1) “Affiliate” of, or person “affiliated” with, a specific person means any person who directly or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, a specified person. (2) “Control” h…

(1) Subject to ORS 744.704, a person shall not transact business or purport or offer to transact business as a third party administrator in this state unless the person holds a third party administrator license issued by the Director of the Department of Consumer and Business Ser…

(1) The following persons are exempt from the licensing requirement for third party administrators in ORS 744.702 and from all other provisions of ORS 744.700 to 744.740 applicable to third party administrators: (a) A person licensed under ORS 744.521 to engage in business as an …

(1) In order to obtain a license to transact business as a third party administrator, an applicant shall apply for the license on a form prescribed by the Director of the Department of Consumer and Business Services, with payment of any fee required for the application. (2) The d…

Upon request from a third party administrator, the Director of the Department of Consumer and Business Services may waive requirements established pursuant to ORS 744.706 for information to be included in or with the application if the third party administrator has a valid licens…

(1) If the Director of the Department of Consumer and Business Services determines that an applicant has satisfied all requirements for a license as a third party administrator, the director shall issue the license to the applicant. The director shall not issue a license if the d…

(1) A license of a third party administrator expires on its expiration date unless it is renewed on or before its expiration date. (2) Unless the Director of the Department of Consumer and Business Services designates another date, a license expires on the last day of the month i…

A person who is exempt from the requirement of a license as a third party administrator under ORS 744.704 because the person acts solely as an administrator of one or more bona fide employee benefit plans established by an employer or an employee organization, or both, for which …

A third party administrator shall immediately notify the Director of the Department of Consumer and Business Services of any material change in ownership or control or in any other matter affecting the qualification of the third party administrator for a license as a third party …

(1) The Director of the Department of Consumer and Business Services shall suspend, revoke or refuse to renew a license of a third party administrator if the director finds that the third party administrator: (a) Is in an unsound financial condition; (b) Is using such methods or …

(1) A third party administrator licensed under ORS 744.702 may transact business as a third party administrator only pursuant to a written agreement between the third party administrator and the insurer. The agreement shall contain all provisions required by this section. However…

(1) When an insurer uses the services of a third party administrator: (a) Payment to the third party administrator of any premiums or charges for insurance by or on behalf of the insured party shall be considered to have been received by the insurer. (b) Payment of return premium…

(1) Except as provided in subsection (4) of this section, a third party administrator shall maintain and make available to the insurer complete books and records of each transaction performed on behalf of the insurer. The books and records shall be maintained in accordance with p…

(1) A third party administrator must maintain with the Director of the Department of Consumer and Business Services at all times a current certificate of errors and omissions insurance, in an amount established by the director by rule, from an insurer authorized to transact insur…

A third party administrator may use only such advertising pertaining to the business underwritten by an insurer that the insurer has approved in advance of its use. [1991 c.812 §16]

(1) A third party administrator shall hold in a fiduciary capacity all insurance charges or premiums collected by the third party administrator on behalf of or for an insurer, and all return premiums received from the insurer. The third party administrator shall immediately remit…

(1) A third party administrator shall not enter into any agreement or understanding with an insurer the effect of which is to make the amount of the third party administrator’s commissions, fees or charges contingent upon savings effected in the adjustment, settlement and payment…

(1) When an insurer uses the services of a third party administrator, the third party administrator shall provide to covered individuals a written notice approved by the insurer that advises them of the identity of and relationship among the third party administrator, the policyh…

When the third party administrator receives policies, certificates, booklets, termination notices or other written communications from the insurer for delivery to insured parties or covered individuals, the third party administrator shall promptly make the delivery after receivin…

(1) Each third party administrator shall file an annual report for the preceding calendar year with the Director of the Department of Consumer and Business Services on or before March 1 of each year, or within such extension of time therefor as the director may grant. The report …

(1) An insurer who uses the services of a third party administrator is responsible for determining the benefits, premium rates, underwriting criteria and claims payment procedures applicable to the coverage and for securing any reinsurance. The rules pertaining to such matters mu…

(1) For purposes of ORS 744.800 to 744.818: (a) A reinsurance intermediary broker is a person who solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer without acting as a reinsurance intermediary manager on behalf of the insurer. (b) …

(1) An officer or employee of a ceding insurer is not subject to the requirements of ORS 744.800 to 744.818 that apply to reinsurance intermediary brokers, with respect to the ceding insurer. (2) When engaged in a relationship described in this subsection, the following persons a…

A reinsurance intermediary broker and the insurer it represents in the capacity of a reinsurance intermediary broker may enter one or more transactions between them only pursuant to a written authorization that specifies the responsibilities of each party. The authorization must …

(1) A reinsurance intermediary broker must keep a complete record for each transaction of a contract of reinsurance as provided in this subsection. For each contract of reinsurance transacted by the reinsurance intermediary broker that is limited to first party property coverages…

(1) An insurer may not engage the services of any person to act as a reinsurance intermediary broker on its behalf unless the person is licensed as a reinsurance intermediary broker as required by ORS 744.800. (2) An insurer may not employ an individual who is employed by a reins…

A reinsurance intermediary manager and the reinsurer it represents in that capacity may enter a transaction only pursuant to a written contract that specifies the responsibilities of each party and otherwise satisfies the requirements of this section. The contract must be approve…

A reinsurance intermediary manager may not do any of the following: (1) Cede retrocessions on behalf of the reinsurer that the reinsurance intermediary manager represents, except that the reinsurance intermediary manager may cede facultative retrocessions pursuant to obligatory f…

(1) A reinsurer may not engage the services of any person to act as a reinsurance intermediary manager on its behalf unless the person is licensed to act as a reinsurance intermediary manager as required by ORS 744.800. (2) A reinsurer shall annually obtain a copy of statements o…

(1) The Director of the Department of Consumer and Business Services may examine any reinsurance intermediary broker and any reinsurance intermediary manager. The director shall have access to all books, bank accounts and records of a reinsurance intermediary broker or reinsuranc…

(1) A resident reinsurance intermediary acting as a reinsurance intermediary manager shall maintain with the Director of the Department of Consumer and Business Services a current certificate of errors and omissions insurance in an amount established by the director by rule from …

If the Director of the Department of Consumer and Business Services finds that a reinsurance intermediary broker or a reinsurance intermediary manager has violated any provision of ORS 744.800 to 744.818, the director may order the reinsurance intermediary broker or reinsurance i…

As used in ORS 744.850 to 744.858: (1) “Limited license” means a license issued under ORS 744.852 that authorizes a rental company to offer or sell insurance as provided in ORS 744.854. (2) “Rental agreement” means a written agreement setting forth the terms and conditions govern…

(1) The Director of the Department of Consumer and Business Services shall adopt rules to specify information that rental companies must submit in applying for a limited license. (2) A rental company that intends to offer insurance as described in ORS 744.854 shall file a limited…

A limited license issued under ORS 744.852 authorizes a rental company to offer and sell the following kinds of insurance in connection with the rental of vehicles: (1) Personal accident insurance covering the risks of travel, including but not limited to accident and health insu…

(1) A rental company that obtains a limited license under ORS 744.852 may not offer or sell insurance pursuant to ORS 744.854 unless: (a) The rental agreement is for a period of 90 consecutive days or less. (b) At every location where rental agreements are executed, written mater…

(1) If a rental company issued a limited license under ORS 744.852 offers or sells insurance not authorized by ORS 744.854, or violates any provision of ORS 744.856, the Director of the Department of Consumer and Business Services may, after notice and hearing, revoke or suspend …

As used in ORS 744.860 to 744.870: (1) “Insurer” means an insurer, a surplus lines insurer or an insurance producer. (2) “Licensee” means an owner that receives a limited license to sell insurance in accordance with ORS 744.860 to 744.870. (3) “Occupant” has the meaning given tha…

(1)(a) An owner may not sell insurance to an occupant without applying for and receiving a limited license under this section. (b) An owner does not require a license under this section if the owner displays or makes available materials related to an insurer’s insurance coverage …

(1) A licensee may sell insurance only: (a) Of the type described in subsection (2) of this section; (b) In connection with and incident to renting individual storage space to an occupant at a self-service storage facility; and (c) In accordance with the requirements set forth in…

(1)(a) A licensee must provide a training program for the licensee’s employees or agents that sell insurance on the licensee’s behalf. The training program must instruct the employees or agents about the coverage the insurance provides and about the provisions of ORS 744.860 to 7…

(1) The Director of the Department of Consumer and Business Services may suspend or revoke a limited license the director issued under ORS 744.862, or may impose another penalty the director prescribes by rule, if: (a) A licensee sells or offers to sell insurance other than insur…

ORS 744.860 to 744.870 do not prohibit: (1) An insurer from paying, or a licensee from receiving, a commission, fee or other compensation for selling the insurer’s insurance; or (2) A licensee or owner from paying an employee or agent of the licensee or owner a bonus, incentive p…

The Director of the Department of Consumer and Business Services may adopt rules to implement and administer the provisions of ORS 744.860 to 744.870. [2013 c.280 §8]

(1) Violation of ORS 744.369, in addition to any applicable prescribed denial, suspension or revocation of any license or civil forfeiture, shall be punishable upon conviction as for the crime of theft under ORS 164.015 to 164.135 or the crime of forgery or related offenses under…

(1) A person who violates any provision of ORS 744.318 to 744.384, 744.991 and 744.992 is subject to civil penalties under ORS 731.988 and cease and desist orders under ORS 731.252. (2) If a person violates any provision of ORS 744.318 to 744.384, 744.991 and 744.992, the Directo…

(1) As used in this section: (a) “Adjuster” has the meaning given that term in ORS 744.502; (b) “Insurance consultant” has the meaning given that term in ORS 744.602; and (c) “Licensee” means a person that has obtained a license to engage in business as an adjuster, an insurance …