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This page contains notices of proposed rulemaking by the Insurance Division. For each rulemaking, you will find the hearing date (if any) and the deadline for comment, as well as the notice of hearing and the text of the proposal.

These proposed rules:

• Explain that the agency will charge a fee for the actual cost of a criminal records check, among the fees that apply to the issuance of licenses for insurance producers, adjusters and consultants. OAR 836-009-0007(4)(e);
• Provide consistent expiration time frames for producer, adjuster, and consultant licenses. OAR 836-009-0007(6);
• Clarify that the exemption to the adjuster licensing examination in ORS 744.535(2) applies only to non-resident adjuster licensing. OAR 836-071-0101(3);
• Designate crop insurance as a distinct class of insurance for the purpose of licensing crop adjusters, and that effective Feb. 1, 2011, to qualify as a crop adjuster, an applicant must pass – with an 80% minimum score – an examination given by the director. OAR 836-071-0113 & 0127;
• Require crop adjusters wishing to renew their licenses to furnish evidence of current Federal Crop Insurance Corporation certification. OAR 836-071-0130(2)(d);
• Update the name of the National Association of Securities Dealers (NASD), now the Financial Industry Regulatory Authority (FINRA). OAR 836-071-0185

This rulemaking proposes to adopt rules to fully implement chapter 711, Oregon Laws 2009 (Enrolled Senate Bill 973) enacted by the 2009 Legislative Assembly.  The legislation established statutory requirements related to the use and marketing of life settlement agreements in Oregon and expanded regulation of these agreements beyond the use of life settlement agreements by terminally ill policyholders.

These rules include clarification of the process for applying for a broker, provider and investment agent license and setting the fee for each application and for renewal of the licenses.

NAIC accreditation Part A Laws & Regulation standards require states to include in statute or regulation a provision that insurers reduce to zero any reserve credits or assets established with respect to existing reinsurance agreements entered into prior to the effective date of the Life and Health Reinsurance Agreements Model Regulation (OAR 836-012-0300 to 836-012-0330) which would not be recognized under the provisions of this regulation.  This requirement was contained in OAR 836-012-0330, repealed September 26, 2006. 

Because the NAIC continues to include this transitory provision in its accreditation requirements, Oregon needs to adopt and retain the rule until the NAIC discontinues its requirement.