How to become an eligible surplus lines insurer

The requirements to obtain eligibility in Oregon are found in ORS 735.415. The insurer must have established satisfactory evidence of good repute and financial integrity. In addition, the insurer needs to do the following:

• Send a written request for eligibility, signed by an officer possessing authority to make the request on behalf of the insurer to:
• Lynette Hadley, Lead Tax Analyst
  Financial Regulation Section
  Oregon Insurance Division–4
• Mailing Address:
  P.O. Box 14480
  Salem, OR 97309-0405
• Street Address:
  350 Winter Street NE
  Salem, OR 97301-3883
• E-mail: lynette.m.hadley@state.or.us
• Provide a copy of the insurer's current annual statement certified by the domiciliary state showing evidence of capital and surplus of at least $5 million
  (reference to the annual statement filed electronically with the NAIC is sufficient)

Once these items are received and found to be in order, a letter will be sent confirming eligibility for surplus line placements in the state of Oregon.

To maintain eligibility, annually the insurer will be required to file its annual statement by June 30. There is no annual filing fee.

Oregon does not maintain a "white" or "approved" list of surplus lines insurers. Submission of the annual statement keeps the insurer eligible for any surplus line agent who deems, upon their own responsibility, that the insurer is financially sound, and a reputable carrier in which to place business.