(2) The Director of the Department of Consumer and Business Services may require that such reserves shall be equal to the unearned portions of the gross premiums in force as calculated pro rata on each respective risk from the policy’s date of issue. In the absence of such requirement, the unearned premium reserve shall be equal to the pro rata unearned portions of the gross premiums in force as calculated by an approximation method approved by the director. After adopting a method of computing such reserves, an insurer shall not change methods without approval of the insurance supervisory official of the insurer’s domicile.
(3) This section does not apply to:
(a) Marine and transportation insurance on trip risks not terminated.
(b) Health insurance.
(c) Title insurance.
(d) Home protection insurance under policies issued by a home protection insurer.
(e) Life insurance. [1967 c.359 §213; 1981 c.247 §9]
Structure 2021 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Chapter 733 - Accounting and Investments
Section 733.010 - Assets allowed.
Section 733.020 - Assets not allowed.
Section 733.030 - Liabilities in general.
Section 733.060 - Unearned premium reserve.
Section 733.090 - Unearned premium reserve and fund for title insurance.
Section 733.140 - Disallowance of "wash" transactions.
Section 733.160 - Valuation of assets other than securities.
Section 733.165 - Valuation of securities.
Section 733.210 - Director’s determinations.
Section 733.304 - Opinion of actuary; rules.
Section 733.308 - Computation of minimum standard for annuities and pure endowment contracts; rules.
Section 733.310 - Interest rates for determining minimum standard for valuation.
Section 733.312 - Amount of required reserves for life insurance policies.
Section 733.314 - Amount of required reserves for certain annuity and pure endowment contracts.
Section 733.316 - Aggregate reserves.
Section 733.318 - Alternative standards of valuation.
Section 733.320 - Minimum required reserve for certain policies.
Section 733.325 - Definitions.
Section 733.328 - Annual valuation of reserve liabilities.
Section 733.331 - Opinion of appointed actuary; liabilities of appointed actuary; rules.
Section 733.337 - Confidentiality; permissible disclosures.
Section 733.510 - Investments of insurers; rules.
Section 733.530 - "Corporation," "sovereign," "political subdivision" defined.
Section 733.550 - "Amply secured obligation" defined.
Section 733.560 - "Unencumbered" defined.
Section 733.570 - "Improved real property" defined.
Section 733.578 - Conditions necessary for investments used to provide compensating balances.
Section 733.580 - Investment of required capitalization.
Section 733.600 - Investment in mortgage loans.
Section 733.610 - Investment in real property.
Section 733.620 - Investment in stocks of corporation.
Section 733.630 - Investment in securities or obligations of certain corporations.
Section 733.635 - Approved activities of corporations in which investments authorized.
Section 733.640 - Lending funds; limitations on loans.
Section 733.650 - Investment of funds in certain obligations and other specified items.
Section 733.652 - Investment of funds of separate accounts.
Section 733.654 - Limitation on amount of separate account investments; exceptions.
Section 733.670 - Investment of funds under "prudent investor" standard.
Section 733.710 - Investments authorized by prior law; date of eligibility of investment.
Section 733.730 - Approval by board of directors of investments and deposits.