Or. Admin. Code § 836-071-0501 - Allocation of Coverage Totals on Multi-state Policies
(1) This rule establishes requirements that a
surplus lines licensee must satisfy in connection with the reporting of a
surplus lines insurance policy where Oregon is determined to be the home state
as defined in ORS 735.405(8), and
the requirements that an insured who obtains independently procured insurance
must satisfy in connection with the reporting of a surplus lines insurance
policy in section 5, chapter 660, Oregon Laws 2011 where Oregon is determined
to be the home state.
(2) For each
surplus lines insurance policy with coverage starting at any time beginning
January 1, 2012 through December 31, 2016 where Oregon is determined to be the
home state, each insured who obtains independently procured insurance must
include in their written report filed with the Director of the Department of
Consumer and Business Services the allocated premium, by coverage for Oregon
and other applicable states in accordance with the filing instructions on the
Surplus Line Association of Oregon Web site in addition to the filing
requirements in section 5, chapter 660, Oregon Laws 2011. Notwithstanding the
January 1, 2012 through December 31, 2016 time period referenced above, on or
after January 1, 2015 the Director may determine that insureds no longer need
to include this allocated premium information in their filed written
report.
(3) For each surplus lines
insurance policy with coverage starting at any time beginning January 1, 2012
through December 31, 2016 where Oregon is determined to be the home state, a
surplus lines licensee must include in their statement filed with the Director
the allocated premium, by coverage for Oregon and other applicable states in
accordance with the filing instructions on the Surplus Line Association of
Oregon Web site in addition to the filing requirements in ORS
735.425(1) and
(2). Notwithstanding the January 1, 2012
through December 31, 2016 time period referenced above, on or after January 1,
2015 the Director may determine that surplus lines licensees no longer need to
include this allocated premium information in their filed statement.
(4) The written report required in section 5,
chapter 660, Oregon Laws 2011 and the statements required in ORS
735.425(1) must
be filed with the Surplus Line Association of Oregon.
Notes
Stat. Auth.: ORS 731.244 & 735.425
Stats. Implemented: ORS 735.425 & OL 2011, Ch. 660 ¦ 5
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