Or. Admin. Code § 836-071-0315 - Managing General Agents; Dollar Amounts Governing Settlement Authority Procedures Under Contract with Insurer
For the purpose of the requirement of the written contract between a managing general agent and an insurer established under ORS 744.306, if the contract permits the managing general agent to settle claims on behalf of the insurer:
(1) The amount established by the Director
for purposes of ORS 744.306(4)(b)(A)
is $10,000.
(2) The amount
established by the Director for purposes of ORS
744.306(4)(c)
is $10,000.
Notes
Stat. Auth.: ORS 731.244, ORS 744.300, ORS 744.306, ORS 744.313 & ORS 744.314
Stats. Implemented:
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