Title 56, Insurance

Any insurance policy terminating by its terms at a specified expiration date and not otherwise renewable, may be renewed or extended at the option of the insurer, if renewed or extended upon a currently authorized policy form at the premium rate then required therefor, for a spec…

(1) An insurer, in response to a written request, shall provide forms for proving a loss for which a person makes a claim under an insurance policy the insurer issues. The requirement to provide forms under this subsection does not impose responsibility upon the insurer for the p…

Without limitation of any right or defense of an insurer otherwise, none of the following acts by or on behalf of an insurer shall be deemed to constitute a waiver of or estoppel to assert any provision of a policy or of any defense of the insurer thereunder: (1) Acknowledgment o…

(1) In the event of the total destruction of any insured property, if the total amount of loss or agreed loss is less than the total amount insured thereon, the insurer or insurers shall return to the insured the portion of insurance premium paid for the excess of the insurance o…

(1) Except as otherwise provided in subsections (2) and (3) of this section, if settlement is not made within six months from the date proof of loss is filed with an insurer and an action is brought in any court of this state upon any policy of insurance of any kind or nature, an…

(1) A liability insurance form that provides that the cost of defending a claim is included within the stated limits of liability may not be delivered or issued for delivery in this state until the form has been filed with and approved by the Director of the Department of Consume…

(1) Insurance against the risk of economic loss assumed under a less than fully insured employee health benefit plan, whether issued or delivered as health or casualty insurance, is subject to the following: (a) The policy must be issued to and insure the employer, the trustee or…

(1) As used in this section, “qualified policy” means an insurance policy that is: (a) Homeowner insurance, as defined in ORS 746.600; or (b) Personal insurance, as defined in ORS 746.600 (33)(a) and (c). (2) An insurer that renews an existing qualified policy with an insured sha…

(1) A domestic insurer shall not enter a transaction in which the domestic insurer assumes or transfers obligations or risks on policies under an assumption reinsurance agreement as defined in this section, unless the Director of the Department of Consumer and Business Services f…

ORS 742.150 does not apply to any of the following: (1) A reinsurance agreement or transaction in which the ceding insurer remains directly liable for its insurance obligations or risks under the policies that are subject to the reinsurance agreement. (2) The substitution of one …

The Director of the Department of Consumer and Business Services shall consider the following factors, along with other factors that the director determines to be appropriate, in reviewing a request for approval of an assumption reinsurance agreement to which ORS 742.150 applies:…

(1) The transferring insurer in an assumption reinsurance agreement to which ORS 742.150 applies shall provide or cause to be provided a notice of transfer meeting the requirements established under this section to the following persons: (a) Each policyholder who has the right to…

(1) A policyholder or certificate holder described in ORS 742.156 may reject the transfer and novation of the policy under an assumption reinsurance agreement to which ORS 742.150 applies. A policyholder or certificate holder electing to reject the assumption transaction must giv…

If a policyholder consents to a transfer as provided in ORS 742.158, or if a transfer is effected under ORS 742.162, the effect of the novation of the policy subject to the assumption reinsurance agreement is that the transferring insurer is relieved of all insurance obligations …

(1) A transfer and novation effected as provided in this section is not an assumption reinsurance agreement to which ORS 742.150 applies. (2) The Director of the Department of Consumer and Business Services may effect a transfer and novation of the policies issued by a domestic i…

(1) No insurer, insurance producer or insured shall knowingly issue or procure any fire insurance policy upon property within this state for an amount which with any existing insurance exceeds the fair value of the risk insured or of the interest of the insured therein. (2) This …

Except as provided in ORS 742.204, no fire insurer, its officers or agents, shall use any fire insurance policy or renew any fire insurance policy on property in this state unless it contains the provisions set forth in ORS 742.206 to 742.242, which shall form a portion of the co…

Any insurance policy that includes, either on an unspecified basis as to coverage or for a single premium, coverage against the peril of fire and substantial coverage against other perils need not comply with the provisions of ORS 742.202 and 742.246, if such policy: (1) Affords …

A fire insurance policy shall contain provisions as follows: “In consideration of the provisions and stipulations herein or added hereto and of _____ dollars ($_____) premium this company, for the term of _____ from the _____ day of _____, 2___, to the ___ day of _____, 2___, at …

A fire insurance policy shall contain the following provisions: (1) Subject to subsections (2) and (3) of this section, this entire policy shall be void if, whether before or after a loss, the insured has willfully concealed or misrepresented any material fact or circumstance con…

A fire insurance policy shall contain a provision as follows: “This policy shall not cover accounts, bills, currency, deeds, evidences of debt, money or securities; nor, unless specifically named hereon in writing, bullion or manuscripts.” [Formerly 743.615]

A fire insurance policy shall contain a provision as follows: “This company shall not be liable for loss by fire or other perils insured against in this policy caused, directly or indirectly, by: (a) Enemy attack by armed forces, including action taken by military, naval or air f…

A fire insurance policy shall contain a provision as follows: “Other insurance may be prohibited or the amount of insurance may be limited by indorsement attached hereto.” [Formerly 743.621]

A fire insurance policy shall contain a provision as follows: “Unless otherwise provided in writing added hereto this company shall not be liable for loss occurring: “(1) While the hazard is increased by any means within the control or knowledge of the insured; or “(2) While a de…

A fire insurance policy shall contain a provision as follows: “Any other peril to be insured against or subject of insurance to be covered in this policy shall be by indorsement in writing hereon or added hereto.” [Formerly 743.627]

A fire insurance policy shall contain a provision as follows: “The extent of the application of insurance under this policy and of the contribution to be made by this company in case of loss, and any other provision or agreement not inconsistent with the provisions of this policy…

A fire insurance policy shall contain a provision as follows: “No permission affecting this insurance shall exist, or waiver of any provision be valid, unless granted herein or expressed in writing added hereto. No provision, stipulation or forfeiture shall be held to be waived b…

(1) A fire insurance policy shall contain a provision as follows: “This policy shall be canceled at any time at the request of the insured, in which case this company shall, upon demand and surrender of this policy, refund the excess of paid premium above the customary short rate…

A fire insurance policy shall contain provisions as follows: (1) “If loss hereunder is made payable, in whole or in part, to a designated mortgagee not named herein as the insured, such interest in this policy may be canceled by giving to such mortgagee a 10 days’ written notice …

A fire insurance policy shall contain a provision as follows: “This company shall not be liable for a greater proportion of any loss than the amount hereby insured shall bear to the whole insurance covering the property against the peril involved, whether collectible or not.” [Fo…

A fire insurance policy shall contain a provision as follows: “The insured shall give immediate written notice to this company of any loss, protect the property from further damage, forthwith separate the damaged and undamaged personal property, put it in the best possible order,…

A fire insurance policy shall contain a provision as follows: “In case the insured and this company shall fail to agree as to the actual cash value or the amount of loss, then, on the written demand of either, each shall select a competent and disinterested appraiser and notify t…

A fire insurance policy shall contain a provision as follows: “It shall be optional with this company to take all, or any part, of the property at the agreed or appraised value, and also to repair, rebuild or replace the property destroyed or damaged with other of like kind and q…

A fire insurance policy shall contain a provision as follows: “There can be no abandonment to this company of any property.” [Formerly 743.654]

A fire insurance policy shall contain a provision as follows: “The amount of loss for which this company may be liable shall be payable 60 days after proof of loss, as herein provided, is received by this company and ascertainment of the loss is made either by agreement between t…

A fire insurance policy shall contain a provision as follows: “No suit or action on this policy for the recovery of any claim shall be sustainable in any court of law or equity unless all the requirements of this policy shall have been complied with, and unless commenced within 2…

A fire insurance policy shall contain a provision as follows: “This company may require from the insured an assignment of all right of recovery against any party for loss to the extent that payment therefor is made by this company.” [Formerly 743.663]

Insurers issuing the standard fire insurance policy pursuant to ORS 742.202 are authorized to affix thereto or include therein a written statement that the policy does not cover loss or damage caused by nuclear reaction or nuclear radiation or radioactive contamination, all wheth…

(1) A fire insurer may add to the provisions required by ORS 742.202 other conditions, provisions and agreements not in conflict with law or contrary to public policy. (2) Any provision restricting or abridging the rights of the insured under the policy must be preceded by a suff…

(1) Each person accepting a policy in a mutual fire insurer thereby becomes a member of the insurer and liable for a proportionate share of losses and operating expenses. (2) Any person or persons holding property in trust may insure the same in a mutual fire insurer, and as such…

An action may be brought against any member of a mutual fire insurer who neglects or refuses to pay any assessment levied by the insurer to recover the whole amount of contingent liability with costs of the action. Execution shall issue on a judgment recovered in such an action f…

Any member of a mutual fire insurer may withdraw at any time by surrendering the member’s policy to the insurer, giving written notice to the secretary of intention to withdraw and paying the member’s share of all losses which have accrued and all assessments then due, accrued or…

(1) A mutual fire insurer may cancel or terminate any fire insurance policy by giving the insured five days’ written notice and returning to the insured any unearned assessment computed pro rata. (2) A mutual fire insurer shall use and issue only the standard form of policy requi…

(1) An insurer offering homeowner or renter liability or fire insurance may not cancel or refuse to issue or renew a policy on a private home solely on the basis that the policyholder operates a child care facility if the policyholder is registered or certified pursuant to ORS 32…

(1) As used in this section: (a) “Homeowner insurance” has the meaning given that term in ORS 746.600. (b) “Property” means structures and dwellings, and the contents of structures and dwellings, that are covered by a policy of homeowner insurance. (2) If a policy of homeowner in…

If a loss covered under a policy of homeowner insurance, as defined in ORS 746.600, occurs in a location that was subject to a declaration of emergency under ORS 401.165 and the loss is directly related to the emergency that was the subject of the declaration, the policy of homeo…

An insurer shall provide to an insured every other year at the time the insurer offers to renew a policy of homeowner insurance, as defined in ORS 746.600, an opportunity to obtain a new estimate of the cost necessary to rebuild or replace the covered property if the insured prov…

(1) As used in this section: (a) “Homeowner insurance” has the meaning given that term in ORS 746.600. (b) “Wildfire risk mitigation action” means an action that reduces wildfire risk to property, including: (A) A property-level action, such as establishing defensible space, hard…

An insurance company may not use a map published by an agency of this state that identifies areas of wildfire risk or exposure as a basis for: (1) Canceling or declining to renew a homeowner insurance policy; or (2) Increasing a premium for a homeowner insurance policy. [2023 c.6…

(1) A home protection policy shall specify: (a) The home, home components and personal property relating to the home or its components that are covered by the policy. (b) The exclusions to and limitations on the coverage. (c) The period during which the policy will be in effect a…