Current through Register Vol. 60, No. 12, December 1, 2021
No nonrenewals, cancellations or
revisions of ceded reinsurance agreements need be reported pursuant to OAR
410-141-5230 if the nonrenewals, cancellations or revisions are not material. A
material nonrenewal, cancellation or revision is one that affects:
(a) More than fifty percent of the CCO's
total ceded capitated revenue;
More than fifty percent of the CCO's total ceded indemnity and loss adjustment
(c) More than fifty
percent of the total reserve credit taken for business ceded, on an annualized
basis, as indicated in the CCO's most recent annual statement.
Either of the following events
shall constitute a material revision that must be reported:
(a) An authorized reinsurer representing more
than ten percent of a total cession is replaced by one or more unauthorized
established collateral requirements have been reduced or waived as respects one
or more unauthorized reinsurers representing collectively more than ten percent
of a total cession.
No filing shall be required if the CCO's total ceded capitated revenue
represents, on an annualized basis, less than ten percent of its total written
capitated revenue for direct and assumed business.
The following information is required to
be disclosed in any report of a material nonrenewal, cancellation or revision
of a ceded reinsurance agreement:
Effective date of the nonrenewal, cancellation or revision;
(b) The description of the transaction with
an identification of the initiator thereof;
(c) Purpose of, or reason for, the
(d) If applicable,
the identity of the replacement reinsurers.