Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 11 - ANNUAL STATEMENTS AND REPORTS BY INSURERS
Section 836-011-0100 - Authority; Purpose; Scope
Universal Citation: OR Admin Rules 836-011-0100
Current through Register Vol. 63, No. 9, September 1, 2024
(1) OAR 836-011-0100 to 836-011-0230 are adopted by the Director pursuant to ORS 731.488. The purpose of OAR 836-011-0100 to 836-011-0230 is to improve the Director's surveillance of the financial condition of insurers by requiring the following:
(a) An annual audit of financial
statements reporting the financial position and the results of operations of
insurers by independent certified public accountants;
(b) Communication of Internal Control Related
Matters Noted in an Audit; and
(c)
Management's Report of Internal Control over Financial Reporting.
(2) OAR 836-011-0100 to 836-011-0230 apply to every authorized insurer, subject to exemptions in OAR 836-011-0130.
(3) OAR 836-011-0100 to 836-011-0230 do not limit the Director's authority to order, conduct or perform examinations of insurers under the Insurance Code.
Stat. Auth.: ORS 731.244 & 731.488
Stats. Implemented: ORS 731.488
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