Oregon Administrative Rules
Chapter 436 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, WORKERS' COMPENSATION DIVISION
Division 85 - PREMIUM ASSESSMENT
Section 436-085-0015 - Premium Assessment; Determination of Assessable Premium: Insurers
Universal Citation: OR Admin Rules 436-085-0015
Current through Register Vol. 63, No. 3, March 1, 2024
(1) For the purpose of these rules, "direct earned premium," as used in ORS 656.612 means "assessable earned premium."
(2) Assessable earned premium must be calculated by making the following modifications to earned premium:
(a) Subtracting exempted earned
premium. The amount of exempted earned premium subtracted must be determined on
a direct basis prior to reinsurance transactions; and
(b) Adding large deductible premium credits
or modifications.
(3) Earned premium must be calculated in the same manner as direct premiums earned, as reported on Statutory Page 14 (Business in the State of Oregon), column 2, line 16 of the insurer's annual statement under OAR 836-011-0000. Earned premium:
(a) Excludes reinsurance accepted
and is without deduction of reinsurance ceded;
(b) Excludes large deductible credits or
modifications;
(c) Includes
experience rating, premium discounts, retrospective rating, audit premiums,
foreign terrorism premiums, domestic terrorism and catastrophic premiums, and
other individual risk rating adjustments; and
(d) Excludes deposit premiums.
Statutory/Other Authority: ORS 656.612 & 656.726(4)
Statutes/Other Implemented: ORS 656.612
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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