2021 Oregon Revised Statutes
Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses
Section 744.635 - Errors and omissions insurance; rules.


(2) If the director determines that errors and omissions insurance required under this section is not generally available at a reasonable cost, the director by rule may suspend the requirement of insurance, but must reimpose the requirement when the insurance becomes available once again. [1985 c.697 §8; 1989 c.701 §63; 1991 c.331 §131; 1991 c.810 §19]

Structure 2021 Oregon Revised Statutes

2021 Oregon Revised Statutes

Volume : 18 - Financial Institutions, Insurance

Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses

Section 744.052 - Definitions for ORS 744.052 to 744.089.

Section 744.056 - Exemptions from insurance producer licensing requirements.

Section 744.058 - Written examination; fees; rules.

Section 744.059 - Qualifications for license; use of uniform application.

Section 744.061 - Banking institution as insurance producer.

Section 744.062 - Issuance of insurance producer license; rules.

Section 744.063 - Nonresident insurance producer license; fee.

Section 744.064 - Persons licensed elsewhere.

Section 744.067 - Exemptions from prelicensing education or examination requirement.

Section 744.068 - Required notifications; maintenance of usual and customary records; rules.

Section 744.072 - Renewal or reinstatement of insurance producer license; continuing education; rules.

Section 744.073 - Temporary insurance producer license.

Section 744.074 - Authority of director to place licensee on probation or to suspend, revoke or refuse to issue or renew license.

Section 744.076 - Payment of commission, service fee or brokerage.

Section 744.077 - Conditions under which person licensed as insurance producer and consultant may accept commission or fee; rules.

Section 744.078 - Appointment of insurance producers; rules.

Section 744.079 - Termination of relationship with insurance producer.

Section 744.081 - Termination of appointment.

Section 744.083 - Trust account for premium funds; commingling; exceptions; rules.

Section 744.084 - Certificate of deposit in lieu of trust account; rules.

Section 744.088 - Training requirements to be licensed as insurance producer for long term care insurance.

Section 744.089 - Report of administrative action taken against insurance producer.

Section 744.091 - Additional conditions under which person licensed as insurer or insurance producer may charge commission or service fee; rules.

Section 744.093 - Solicitation or sale of insurance policy by retail insurance producer or wholesale insurance producer; rules.

Section 744.101 - Definitions.

Section 744.104 - Travel insurance through travel retailers; direction by limited travel insurance producers; requirements and restrictions; designated employees.

Section 744.107 - Violations; revocation of authorization.

Section 744.111 - Rules.

Section 744.300 - License and indorsement; managing general agent described.

Section 744.301 - Exemptions from license requirement.

Section 744.303 - Certificate of errors and omissions insurance; rules.

Section 744.306 - Contract between insurer and managing general agent.

Section 744.308 - Limitations on authority of insurer and managing general agent.

Section 744.313 - Financial examination; loss reserves; notification of appointment and termination; acts of managing general agent attributed to insurer.

Section 744.318 - Definitions for ORS 744.318 to 744.384.

Section 744.321 - Life settlement providers.

Section 744.323 - Life settlement brokers.

Section 744.326 - License application; fee.

Section 744.328 - Issuance of license.

Section 744.331 - Expiration of license; rules for renewal.

Section 744.333 - Individual acting as provider under license of firm or corporation.

Section 744.338 - Suspension, revocation, refusal to issue or renew license.

Section 744.341 - Terms of contract.

Section 744.343 - Annual report and statement by provider; restrictions on disclosure of information; rules.

Section 744.346 - Examination of business and practices of licensee or applicant; records.

Section 744.354 - Disclosure by life settlement provider, broker or investment agent to policy owner.

Section 744.362 - Disclosure by insurance company to policy owner; rules.

Section 744.364 - Life settlement contract requirements.

Section 744.367 - Limitations on ability to enter life settlement contract; exceptions.

Section 744.369 - Unlawful life settlement contract actions.

Section 744.372 - Advertising of life settlement contracts; rules.

Section 744.374 - Enforcement of life settlement contract provisions; reporting of violations; required antifraud initiatives.

Section 744.382 - Prohibitions on finder’s fee, solicitations, discrimination.

Section 744.384 - Rules; standards.

Section 744.502 - Definitions.

Section 744.515 - Exemptions from adjuster licensing requirement.

Section 744.518 - License application; business entity as applicant; fees.

Section 744.521 - Powers of director to issue, renew, amend, suspend and reinstate licenses; license expiration; fees.

Section 744.523 - Conditions for licensing, renewing license for or amending license of business entity.

Section 744.525 - Resident adjuster qualifications; rules.

Section 744.528 - Nonresident adjuster qualifications; rules.

Section 744.531 - Classes of insurance for adjusters.

Section 744.538 - Change of circumstance of nonresident adjuster.

Section 744.555 - Temporary adjuster permit; rules.

Section 744.578 - Licensee’s place of business.

Section 744.581 - Notices required; rules.

Section 744.584 - Prohibited conduct; penalties and disciplinary action; hearings.

Section 744.602 - Definitions.

Section 744.605 - Insurance consultant’s license required.

Section 744.609 - Exemptions.

Section 744.611 - License application; business entity as applicant; fees.

Section 744.614 - Powers of director to issue, renew, amend, suspend and reinstate licenses; license expiration; fees.

Section 744.617 - Conditions for licensing, renewing license for or amending license of business entity.

Section 744.619 - Qualifications for resident insurance consultant’s license; rules.

Section 744.621 - Qualifications for nonresident insurance consultant’s license; rules.

Section 744.626 - Classes of insurance for consultants.

Section 744.631 - Change of circumstance of nonresident insurance consultant.

Section 744.635 - Errors and omissions insurance; rules.

Section 744.638 - Licensee’s place of business.

Section 744.641 - Notices required; rules.

Section 744.644 - Prohibited conduct; penalties and disciplinary action; hearings.

Section 744.650 - Disclosure by insurance consultants; rules.

Section 744.700 - Definitions for ORS 744.700 to 744.740.

Section 744.702 - Third party administrator license; description of transacting business as third party administrator.

Section 744.704 - Exemptions from license requirement; rules.

Section 744.706 - Application for license.

Section 744.710 - Issuance or denial of license.

Section 744.712 - Expiration and renewal of license; rules for renewal.

Section 744.718 - Suspension, revocation or refusal of issuance or renewal of license.

Section 744.720 - Agreement between insurer and third party administrator.

Section 744.722 - Relationship of insurer and third party administrator regarding payments.

Section 744.724 - Books and records.

Section 744.726 - Errors and omissions insurance; rules.

Section 744.730 - Disposition of charges and premiums.

Section 744.732 - Contingent fee agreements.

Section 744.734 - Notice to insureds regarding third party administrator.

Section 744.738 - Annual report.

Section 744.740 - Responsibility of insurer using third party administrator.

Section 744.800 - Qualifications for reinsurance intermediary brokers and managers.

Section 744.802 - Exemptions from application of requirements for reinsurance intermediary brokers and managers.

Section 744.804 - Conditions under which reinsurance intermediary broker and insurer may enter into transactions.

Section 744.806 - Records required to be kept by reinsurance intermediary brokers.

Section 744.808 - Prohibition on use of unlicensed reinsurance intermediary broker; requirement that insurer obtain financial statement of reinsurance intermediary broker.

Section 744.810 - Conditions under which reinsurance intermediary manager and reinsurer may enter into transactions.

Section 744.812 - Prohibitions on actions of reinsurance intermediary managers.

Section 744.814 - Prohibition on use of unlicensed reinsurance intermediary manager; requirement that reinsurer obtain financial statement of reinsurance intermediary manager and opinion of actuary.

Section 744.816 - Director access to books, accounts and records.

Section 744.818 - Errors and omissions insurance for reinsurance intermediary manager; rules.

Section 744.850 - Definitions for ORS 744.850 to 744.858.

Section 744.852 - Limited license for rental companies; application; rules.

Section 744.854 - Kinds of insurance authorized by limited license.

Section 744.856 - Conditions for offer or sale of insurance; training; filing officer.

Section 744.858 - Revocation or suspension of limited license; other penalties; application of Insurance Code; rules.

Section 744.860 - Definitions for ORS 744.860 to 744.870.

Section 744.862 - Limited license to sell insurance; exemption; application; disclosures required; conditions on license.

Section 744.864 - Permissible sales; required notices and disclosures; evidence of coverage; prohibition on representing owner as insurer.

Section 744.866 - Training program; approval of training materials; certification of training; auditing.

Section 744.868 - License suspension and revocation or other penalty; rules.

Section 744.870 - Compensation, bonuses and incentives.

Section 744.991 - Criminal penalties; restitution.

Section 744.992 - Civil penalties; civil actions; rescission of life settlement contracts.

Section 744.994 - Effect of license expiration or surrender on director’s investigation or disciplinary proceedings.