Oregon Department of Consumer and Business Services, Insurance Regulation

Rule Rule 836-071-0315
Managing General Agents; Dollar Amounts Governing Settlement Authority Procedures Under Contract with Insurer


For the purpose of the requirement of the written contract between a managing general agent and an insurer established under ORS 744.306 (Contract between insurer and managing general agent), if the contract permits the managing general agent to settle claims on behalf of the insurer:

(1)

The amount established by the Director for purposes of ORS 744.306 (Contract between insurer and managing general agent)(4)(b)(A) is $10,000.

(2)

The amount established by the Director for purposes of ORS 744.306 (Contract between insurer and managing general agent)(4)(c) is $10,000.
Source

Last accessed
Jun. 8, 2021