§ 742.152 — Limitations on applicability of ORS 742.150

Oregon § 742.152

• Jurisdiction: Oregon
• Vol.: 18
• Title 56: Insurance
• Ch. 742: Insurance Policies Generally; Property and Casualty Policies

Text

ORS 742.150 does not apply to any of the following:
(1) A reinsurance agreement or transaction in which the ceding insurer remains directly liable for its insurance obligations or risks under the policies that are subject to the reinsurance agreement.
(2) The substitution of one insurer for another upon the expiration of insurance coverage pursuant to statutory or contractual requirements and the issuance of a new policy by another insurer.
(3) The transfer of policies pursuant to a merger or consolidation of two or more insurers to the extent that the merger or consolidation is regulated by statute.
(4) An insurer that is subject to a judicial order of liquidation or rehabilitation.
(5) Any reinsurance agreement or transaction to which a state insurance guaranty association is a party, but only if policyholders do not lose any rights or claims afforded under their original policies pursuant to ORS 734.510 to 734.710 or 734.750 to 734.890.
(6) The transfer of liabilities from one insurer to another under a single group policy upon the request of the group policyholder.
(7) A plan of conversion or reorganization to which ORS 732.600 to 732.630 apply.

Legislative History

1995 c.30 §3; 1997 c.771 §23