Or. Admin. Code § 836-009-0011 - Assessments Against Insurers
(1) The
percentage rates for assessments authorized under ORS
731.804 against authorized
insurers shall be established as provided in this rule. An authorized insurer
shall pay an assessment on each line of insurance transacted by the insurer in
this state that is subject to assessment under 731.804. This rule provides for
establishment of a percentage rate for each of the following lines of
insurance:
(a) Life insurance;
(b) Health insurance;
(c) Property and casualty insurance. For
purposes of this rule, this line includes title insurance but does not include
workers' compensation insurance.
(2) For each line of insurance in section (1)
of this rule, the percentage rate for the assessment against each authorized
insurer transacting the line of insurance shall be the rate established by
dividing the amount of revenue needed to cover expenses to be incurred by the
Department in administering the Insurance Code for a fiscal year with respect
to the line of insurance by the gross amount of premiums received by all
insurers or their agents from and under their policies covering direct domestic
risks for that line of insurance, after deductions specified in ORS
731.804. The following is the
formula for calculating the assessment rate for each line:
Total Amount to be derived from
Assessment with respect to the line = Assessment
Total assessable premium from the line, rate (0.xxxx%) for all insurers
(3) For a specific
insurer:
(a) The assessment billed with
respect to a line of insurance shall be determined by finding 0.xxxx% of the
insurer's assessable premium for the line for the appropriate calendar
year;
(b) The finance charge of
charges imposed by the insurer shall be assessed at the lowest assessment rate
established pursuant to this rule.
(4) The Director shall determine the amount
of revenue needed by considering the legislatively approved expenditures for
administration of the Insurance Code and the timing of cash revenues and
expenditures, and subtracting there from other available revenue
sources.
(5) The amount of premiums
for all lines of insurance to be assessed against an insurer under sections (1)
to (3) of this rule shall not exceed nine hundredths of one percent of the
gross amount of premiums received by an insurer or its agents from and under
its policies covering direct domestic risks, after deductions specified under
ORS 731.804.
(6) Assessments under this rule shall be
imposed and collected annually unless the Director determines that additional
amounts need to be assessed and collected in order to support the legislatively
authorized budget of the Department with respect to its functions under the
Insurance Code or in order to support changes in the budget authorized by the
Emergency Board. The additional amounts shall be assessed as provided in
sections (1) to (3) of this rule, except that the numerator shall be the
additional amounts so needed.
(7)
The Director shall assess an insurer only if the insurer is authorized to
transact insurance at the time of billing.
(8) Billings of annual assessments shall be
issued not later than October 1 of each year.
(9) An insurer must pay each assessment
imposed under this rule not later than the 30th day after the date of the
billing of the assessment by the Department. An insurer shall pay interest at
nine percent per annum on any assessment that is not paid when due.
(10) When the Director determines that an
assessment or a part thereof paid by an insurer is in excess of the amount
legally due and payable to the Department, if the amount of the refund owed by
the Department is less than $50, the Department shall pay the refund only upon
receipt of a written request from the insurer that paid the assessment. The
written request must be received by the Department not later than three years
from the date the assessment was paid to the Department.
(11) The Director shall not bill an
assessment or an adjustment to an assessment of $25 or
less.
Notes
Stat. Auth.: ORS 293, 731.244 & 731.804
Stats. Implemented: ORS 731.804(1)
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