OAR 836-071-0150
Errors and Omissions Insurance; Insurance Consultants; Managing General Agents

(1)

The amount of insurance for which an insurance consultant must maintain a certificate of errors and omissions insurance with the Director as required by ORS 744.635 (Errors and omissions insurance) is $500,000 claims made or per occurrence.

(2)

The amount of insurance for which a managing general agent as described in ORS 744.300 (License and indorsement) must maintain a certificate of errors and omissions insurance with the Director as required by 744.303 (Certificate of errors and omissions insurance) is $500,000 claims made or per occurrence.

(3)

A managing general agent or an insurance consultant may obtain insurance required by ORS 744.303 (Certificate of errors and omissions insurance) or 744.635 (Errors and omissions insurance) from an insurer other than an authorized insurer if the insurer does not control or is not controlled by, or is not under common control with, the managing general agent or insurance consultant, whether directly or indirectly through one or more intermediaries, and if:

(a)

The insurer is an eligible surplus lines insurer pursuant to the requirements of ORS 735.400 (Purposes of ORS 735.400 to 735.495) to 735.495 (Short title) and the insurance is procured by a surplus lines licensee;

(b)

The insurer is an authorized insurer in the state of domicile of the insurance consultant or managing general agent for whom the insurance is obtained; or the state of domicile of the applicant for either such license; or

(c)

The insurance is procured from an Oregon surplus lines insurer that is eligible in the state of domicile of the insurance consultant or managing general agent, or applicant for either such license, if all requirements of this subsection are satisfied. The insurance for purposes of this subsection must be confirmed by the signature of an Oregon surplus lines licensee. The Oregon surplus lines licensee must also affirm in writing that the Oregon surplus lines licensee will be the agent for service of process for any action or proceeding involving the insurance consultant or managing general agent and an Oregon resident.

Source: Rule 836-071-0150 — Errors and Omissions Insurance; Insurance Consultants; Managing General Agents, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=836-071-0150.

836‑071‑0101
Adjuster and Insurance Consultant License Application 836‑071‑0105
Additional Application Information 836‑071‑0108
Limited Class Insurance Licenses 836‑071‑0110
Fingerprints 836‑071‑0112
Social Security Numbers 836‑071‑0113
Crop Insurance 836‑071‑0115
Satisfaction of Qualifications for Classes of Insurance 836‑071‑0117
Managing General Agents 836‑071‑0118
Requirements That Must Be Completed Prior to Submitting Licensing Application 836‑071‑0120
Examination Procedure 836‑071‑0125
Period for Completion of License Application 836‑071‑0127
Examination Scores 836‑071‑0130
Adjuster or Insurance Consultant License Renewal 836‑071‑0135
Renewal of Expired Adjuster or Insurance Consultant License 836‑071‑0140
License Amendment 836‑071‑0145
Amended License Issuance 836‑071‑0146
Individual Insurance Producer License Expiration Date 836‑071‑0148
Extended License Expiration Date, Active Military Duty and Other Extenuating Circumstances 836‑071‑0150
Errors and Omissions Insurance 836‑071‑0160
Errors and Omissions Insurance 836‑071‑0180
Insurance Producer Pre-Examination Requirements 836‑071‑0185
Qualification of Agents Selling Variable Life Insurance, Including Variable Annuities 836‑071‑0190
Registration of a School 836‑071‑0195
Revocation of Registration of a School 836‑071‑0210
Statutory Authority 836‑071‑0215
Continuing Education Requirements for Insurance Producers 836‑071‑0220
Continuing Education 836‑071‑0225
Continuing Education 836‑071‑0230
Continuing Education 836‑071‑0235
Provider Registration 836‑071‑0240
Course Registration 836‑071‑0242
Provider Trade Practices 836‑071‑0245
Revocation of Provider Registration 836‑071‑0247
Requirements for Granting Credit 836‑071‑0250
Credit for Unregistered Courses 836‑071‑0260
Fees Charged by Insurance Producers 836‑071‑0263
Fees Charged by Insurance Consultants or Insurance Producers 836‑071‑0267
Incidental Charges for Customer Services 836‑071‑0269
Purpose and Authority 836‑071‑0272
Scope of OAR 836-071-0269 to 836-071-0277 836‑071‑0274
Service Fees Prohibited on Personal Lines 836‑071‑0277
Service Fees Allowed on Commercial Lines 836‑071‑0280
Permitted and Prohibited Activities of Insurance Personnel Exempt from Insurance Producer License Requirement 836‑071‑0285
Insurance Producer Review of Applications 836‑071‑0287
Transaction of Group Life, Health Insurance by Insurance Producer without Appointment 836‑071‑0291
Certificate of Deposit in Lieu of Trust Account 836‑071‑0295
Transaction of Insurance by Individual Insurance Producer for Appointed Firm or CorporateInsurance Producer 836‑071‑0297
Permitted Transaction of Insurance by Unappointed Insurance Producer 836‑071‑0300
Requirement of Contract with or Employment of Licensee 836‑071‑0310
Referral Fee from Oregon Medical Insurance Pool 836‑071‑0315
Managing General Agents 836‑071‑0320
Managing General Agents 836‑071‑0321
Terms for OAR 836-071-0323 to 836-071-0346 836‑071‑0323
License Applicants and Licensees with Prior Convictions 836‑071‑0326
Application by Person under OAR 836-071-0323 836‑071‑0328
Unlicensed Individuals with Prior Convictions Who are Engaged or Participate in Business of Insurance 836‑071‑0331
Director’s Procedures, Application for Consent 836‑071‑0336
Factors to be Considered by the Director 836‑071‑0341
Issuance of Written Consent 836‑071‑0346
Denial of Consent 836‑071‑0351
Subsequent Conviction of Person Previously Granted Written Consent 836‑071‑0354
Designated Agent 836‑071‑0355
Limited License Application, Rental Companies 836‑071‑0360
License Renewal 836‑071‑0370
List of Employees and Designated Agents Selling Coverage 836‑071‑0380
Course of Training for Training Program and for Continuing Education 836‑071‑0390
Statewide Filing Officer 836‑071‑0400
Applicable Insurance Code Statutes 836‑071‑0405
Statutory Purpose and Authority 836‑071‑0410
Limited License Application, Self-Service Storage Facility 836‑071‑0415
Materials and Requirements of Application 836‑071‑0420
Requirements for Limited Licensee, List of Employees Selling Coverage 836‑071‑0425
Limited License Renewal 836‑071‑0430
Remission to Insurer 836‑071‑0450
Requirements for Limited Travel Insurance Producer and Travel Retailer 836‑071‑0500
Nonresident Licensing and Placement Requirements 836‑071‑0501
Allocation of Coverage Totals on Multi-state Policies 836‑071‑0550
Statutory Purpose and Authority 836‑071‑0560
Limited License Application, Portable Electronics Insurance Coverage 836‑071‑0565
Limited License Renewal 836‑071‑0570
List of Employees Selling Coverage
Last Updated

Jun. 8, 2021

Rule 836-071-0150’s source at or​.us