Rates and Forms Section –
New Developments
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Notice
requirement on annuity contracts
Effective Oct. 1, any individual annuity contract or subsequent offer for
sale of additional coverage in connection with an annuity must include notice
that the Insurance Division helps consumers who have disputes with their insurer.
For more information Click
Here.
Use of health questionnaires for determining health status of individual
enrollees or employer groups prior to enrollment
It has recently come to our attention that carriers issuing health benefit
plans to employer groups in the State of Oregon are using prohibited health
questionnaires to determine acceptance of employer groups and for rating purposes
prior to enrollment. Such actions are in violation of the Oregon Insurance
Code and may result in immediate enforcement actions. If necessary we will
issue a bulletin concerning this matter in the near future.
Detailed
information, including statutory references and examples of prohibited
pre-enrollment questions, may be found on our website.
For more information or if you have additional questions, please contact:
Gayle Woods at gayle.woods@state.or.us or
by phone at 503-947-7217.
ACORD is recognized as an advisory organization.
ACORD submits personal and commercial auto applications and supplements to
the Oregon Insurance Division for approval. However, Oregon law does not
give advisory organizations filing authority on behalf of their member companies.
Any insurance company wishing to use or accept an ACORD application for Personal
Lines and Commercial Lines motor vehicle insurance must make a form filing
pursuant to ORS 742.458 and ORS 742.003, just like they would file any independently
developed motor vehicle application form. (10/19/04)
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Product Locator - a National Data Base
Oregon is participating in the national data base that enables insurers to
search for products and product requirements for participating states. This
system is a tool for product developers that will enable them to create products
that are in compliance with all states they intend to file in. It will assist
filers to more accurately prepare the filing and checklist of standards required
by the individual states. Oregon's entries in the Product Locator are identical
to the checklist of standards required to be completed by filers. The Product
Locator is active for property/casualty, life and health.
(revised 5/17/05)
Self-Certify your Life and Annuity Advertisements
Oregon is allowing insurers to self-certify life and annuity advertisements.
The Transmittal and Standards form
on our website provides detailed information for self-certification. The
checklist of standards must be completed whether you are self-certifying
or filing for approval. If self-certifying, place the completed checklist
of standards in your file with the advertisement for possible review in a
Market Conduct Examination. If filing advertisements for review, please refer
to Bulletin 2000-2 for
our procedures. We are encouraging self-certification. If there are items
that can be clarified to help in the self-certification process, please e-mail
to lorna.keyes@state.or.us,
or fax to 503-378-4351. (9/21/05)
Credit Scoring Rules Adopted
Senate Bill 260, passed in the 2003 session of the Oregon Legislative Assembly,
imposes new limits on the use of insurance scoring or credit history for
personal insurance underwriting and rating. The legislation (chapter 788,
Oregon Laws 2003) was effective January 1, 2004. Bulletin INS 2003-8 (January
29, 2004) provides the Insurance Division's interpretation of SB 260 and
insurer filing requirements. Credit Scoring Questions & Answers addresses
practical and specific questions about implementing SB 260. (1/30/04)
Terrorism Exclusions (10/22/02)
Mold Exclusion Guidelines – Outlines
information needed in a form and rate filing. (4/3/02)
