Section 744.991 – Criminal penalties; restitution.
(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 ORS 165.002 to 165.070. (2) A person convicted of […]
Section 744.992 – Civil penalties; civil actions; rescission of life settlement contracts.
(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 Director of the Department of Consumer and Business […]
Section 744.994 – Effect of license expiration or surrender on director’s investigation or disciplinary proceedings.
(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 consultant or an insurance producer. (2) […]
Section 744.854 – Kinds of insurance authorized by limited license.
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 insurance that provides coverage to renters and other occupants of the […]
Section 744.856 – Conditions for offer or sale of insurance; training; filing officer.
(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 material is available to prospective renters that: (A) […]
Section 744.740 – Responsibility of insurer using third party administrator.
(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 must be provided in writing by the insurer to the third party administrator. (2) […]
Section 744.858 – Revocation or suspension of limited license; other penalties; application of Insurance Code; rules.
(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 the limited license or may impose such other penalties […]
Section 744.800 – Qualifications for reinsurance intermediary brokers and managers.
(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) A reinsurance intermediary manager is a person who has authority to […]
Section 744.802 – Exemptions from application of requirements for reinsurance intermediary brokers and managers.
(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 are not subject, with respect to the reinsurer in the […]
Section 744.804 – Conditions under which reinsurance intermediary broker and insurer may enter into transactions.
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 at least provide that: (1) The insurer may terminate the authority of the reinsurance […]