The Oregon Department of Consumer and Business Services Division of Financial Regulation published a Bulletin reminding insurers they are required to file underwriting guidelines with the division, per the Oregon Insurance Code.
ORS 737.205(1) requires that every insurer file with the Director of the Department of Consumer and Business Services copies of rates, rating plans, and rating systems. Specific to personal lines, insurers should file a tier rating system summary if tiers are part of their rating system, a histogram, and a full copy of their underwriting guidelines. If an insurer is filing to indicate revisions or changes, they should still file copies of rates, rating plans, and rating systems. Changes or revisions should be filed prior to implementation.
This premium content is locked for FC&S Coverage Interpretation Subscribers
Enjoy unlimited access to the trusted solution for successful interpretation and analyses of complex insurance policies.
- Quality content from industry experts with over 60 years insurance experience, combined
- Customizable alerts of changes in relevant policies and trends
- Search and navigate Q&As to find answers to your specific questions
- Filter by article, discussion, analysis and more to find the exact information you’re looking for
- Continually updated to bring you the latest reports, trending topics, and coverage analysis
Already have an account? Sign In Now
For enterprise-wide or corporate access, please contact our Sales Department at 1-800-543-0874 or email [email protected]