Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 14 - ALTERNATIVE INSURANCE ORGANIZATIONS
Section 836-014-0265 - Response by Insurer

Universal Citation: OR Admin Rules 836-014-0265

Current through Register Vol. 63, No. 9, September 1, 2024

(1) An insurer shall provide information requested by a life settlement provider or life settlement broker on the status of the life insurance policy or certificate of a policyholder or certificate holder within 30 calendar days after the insurer receives the request for verification of coverage.

(2) Nothing in this rule prohibits a certificate holder from assigning rights or benefits under the certificate to a licensed life settlement provider if assignment is allowed in the group policy, or from converting the coverage to an individual life insurance policy as provided by law and any applicable terms of the group policy.

Stat. Auth.: ORS 731.244, 744.358

Stats. Implemented: ORS 744.358

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