Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 60 - INSURANCE POLICIES (ORS CHAPTER 743)
Section 836-060-0046 - Supervision of Credit Insurance Operations
Universal Citation: OR Admin Rules 836-060-0046
Current through Register Vol. 63, No. 9, September 1, 2024
(1) Once every rate review period established under OAR 836-060-0041(4), each insurer transacting credit insurance in this state shall be responsible for conducting a thorough review of creditors with respect to the insurer's credit insurance business with such creditors, to assure compliance with the Oregon Insurance Code and 836-060-0000 through 836-060-0060.
(2) The insurer shall maintain written records of these reviews for review by the Director. The records shall:
(a) Review and report the creditor's
activities according to OAR
836-060-0011(5);
and
(b) Verify the prompt and
timely payment of claims and accuracy of refunds.
Stat. Auth.: ORS 731.244
Stats. Implemented: ORS 743.377, 743.378, 743.380 & 746.160
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