Rates and Forms Section –
New Developments
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Industry Training September 15-17, 2008
The Oregon Insurance Division, Rates and Forms Unit is hosting a free Industry
Training day on September 15, 2008. Come join us as we discuss current legislative
changes, filing requirements, helpful filing hints and tips, and more. In
addition to the industry training we are offering a basic overview of SERFF
for carriers that are not familiar with the system as well as one on one discussion
time with the policy analyst of your choice, including our SERFF Program Coordinator.
Please see links below for more information:
In addition, the Division is coordinating with 'Integro' to bring SERFF industry
training to the Division on September 16 & 17, 2008. The cost for this
training will be determined by the number of participants and divided equally.
Space is limited. RSVP by August 1, 2008.
(7/24/08)
Use of health questionnaires for determining health status of individual
enrollees or employer groups prior to enrollment
It has recently come to our attention that carriers issuing health benefit
plans to employer groups in the State of Oregon are using prohibited health
questionnaires to determine acceptance of employer groups and for rating purposes
prior to enrollment. Such actions are in violation of the Oregon Insurance
Code and may result in immediate enforcement actions. If necessary we will
issue a bulletin concerning this matter in the near future.
Detailed
information, including statutory references and examples of prohibited
pre-enrollment questions, may be found on our website.
For more information or if you have additional questions, please contact:
Gayle Woods at gayle.woods@state.or.us or
by phone at 503-947-7217.
Notice Regarding Annuity Contracts
On or after January 1, 2006, an insurer may only issue annuity policies that
comply with the provisions of ORS 743.275 through 743.295 as set forth in
the Oregon Insurance Code and Related Laws 2004.
Individual annuity contracts sold on or after January 1, 2006 must contain
language regarding deferrals that complies with ORS 743.278(1)(b). An amendment,
endorsement, or rider may be filed for approval rather than submitting a new
contract. In force contracts are not affected.
Also beginning on January 1, 2006, some individual flexible premium annuity
contracts that use the old nonforfeiture calculation can no longer be sold.
Please refer to ORS 743.293. Those contracts that specifically refer to 65%
within the contract itself may no longer be used.
Please send a list of the form numbers for contracts that you will be withdrawing
from the market as a result of this change via email to lorna.keyes@state.or.us.
We need to receive this listing on or before December 31, 2005.
(10/5/05)
ACORD is recognized as an advisory organization.
ACORD submits personal and commercial auto applications and supplements to
the Oregon Insurance Division for approval. However, Oregon law does not
give advisory organizations filing authority on behalf of their member companies.
Any insurance company wishing to use or accept an ACORD application for Personal
Lines and Commercial Lines motor vehicle insurance must make a form filing
pursuant to ORS 742.458 and ORS 742.003, just like they would file any independently
developed motor vehicle application form. (10/19/04)
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Product Locator - a National Data Base
Oregon is participating in the national data base that enables insurers to
search for products and product requirements for participating states. This
system is a tool for product developers that will enable them to create products
that are in compliance with all states they intend to file in. It will assist
filers to more accurately prepare the filing and checklist of standards required
by the individual states. Oregon's entries in the Product Locator are identical
to the checklist of standards required to be completed by filers. The Product
Locator is active for property/casualty, life and health.
(revised 5/17/05)
Self-Certify your Life and Annuity Advertisements
Oregon is allowing insurers to self-certify life and annuity advertisements.
The Transmittal and Standards form
on our website provides detailed information for self-certification. The
checklist of standards must be completed whether you are self-certifying
or filing for approval. If self-certifying, place the completed checklist
of standards in your file with the advertisement for possible review in a
Market Conduct Examination. If filing advertisements for review, please refer
to Bulletin 2000-2 for
our procedures. We are encouraging self-certification. If there are items
that can be clarified to help in the self-certification process, please e-mail
to lorna.keyes@state.or.us,
or fax to 503-378-4351. (9/21/05)
Credit Scoring Rules Adopted
Senate Bill 260, passed in the 2003 session of the Oregon Legislative Assembly,
imposes new limits on the use of insurance scoring or credit history for
personal insurance underwriting and rating. The legislation (chapter 788,
Oregon Laws 2003) was effective January 1, 2004. Bulletin INS 2003-8 (January
29, 2004) provides the Insurance Division's interpretation of SB 260 and
insurer filing requirements. Credit Scoring Questions & Answers addresses
practical and specific questions about implementing SB 260. (1/30/04)
Terrorism Exclusions (10/22/02)
Mold Exclusion Guidelines – Outlines
information needed in a form and rate filing. (4/3/02)
