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 744.726 – Errors and omissions insurance; rules.
(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 insurance in this state or from any other insurer acceptable to […]
Section 744.728 – Advertising.
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]
Section 744.730 – Disposition of charges and premiums.
(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 all charges, premiums or return premiums to the person entitled to […]
Section 744.700 – Definitions for ORS 744.700 to 744.740.
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” has the meaning given that term in ORS 732.548. (3) […]
Section 744.732 – Contingent fee agreements.
(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 of losses covered by the obligations of the insurer. (2) This […]
Section 744.702 – Third party administrator license; description of transacting business as third party administrator.
(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 Services. (2) For purposes of ORS 744.700 to 744.740, […]
Section 744.734 – Notice to insureds regarding third party administrator.
(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 policyholder and the insurer. (2) When a third party administrator collects funds, […]
Section 744.704 – Exemptions from license requirement; rules.
(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 adjuster, whose activities are limited to adjustment of claims and […]
Section 744.736 – Delivery from insurer to insured.
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 receiving instructions from the insurer. [1991 c.812 §20]