State Accident Insurance Fund Corporation
- purpose and functions
(1)The State Accident Insurance Fund Corporation is created for the purpose of transacting workers’ compensation insurance and reinsurance business. The State Accident Insurance Fund Corporation also may insure an Oregon employer against any liability such employer may have on account of bodily injury to a worker of the employer arising out of and in the course of employment as fully as any private insurance carrier.
(2)The functions of the State Accident Insurance Fund Corporation shall be:
(a)To confer with and solicit employers and to determine, handle, audit and enforce collection of premiums, assessments and fees of insured employers insured with the State Accident Insurance Fund Corporation;
(b)To make insurance available to as many Oregon employers as inexpensively as may be consistent with the overall integrity of the Industrial Accident Fund, in accordance with ORS 656.634 (Trust fund status of Industrial Accident Fund) and sound principles of insurance;
(c)To receive and handle and process the claims of workers and beneficiaries of workers injured in the employ of insured employers insured with the State Accident Insurance Fund Corporation; and
(d)To perform all other functions which the laws of this state specifically authorize or which are necessary or appropriate to carry out the functions expressly authorized.
(3)The State Accident Insurance Fund Corporation in its name may sue and be sued.
(4)The State Accident Insurance Fund Corporation may authorize self-insured employers or other insurers to use any physical rehabilitation center operated by the State Accident Insurance Fund Corporation on such terms as the State Accident Insurance Fund Corporation deems reasonable.
(5)The State Accident Insurance Fund Corporation in its own name, may acquire, lease, rent, own and manage real property. It may construct, equip and furnish buildings or other structures as are necessary to accommodate its needs. It may purchase, rent, lease or otherwise acquire for its use all supplies, materials, equipment and services necessary to carry out its functions. It may sell or otherwise dispose of any property acquired under this subsection.
(6)Any real property acquired and owned by the State Accident Insurance Fund Corporation under this section shall be subject to ad valorem taxation.
(7)The State Accident Insurance Fund Corporation may furnish advice, services and excess workers’ compensation and employer liability insurance to any employer qualified as a self-insured employer under the provisions of ORS 656.407 (Qualifications of insured employers), on such terms and conditions as the State Accident Insurance Fund Corporation deems reasonable.
(8)With the approval of the Director of the Department of Consumer and Business Services, the State Accident Insurance Fund Corporation may provide reinsurance coverage to Oregon employers on such terms and conditions as the State Accident Insurance Fund Corporation deems reasonable.
(9)The State Accident Insurance Fund Corporation may contract with the Oregon Department of Administrative Services to provide claim management services for claims filed under ORS 655.505 (Definitions for ORS 655) to 655.555 (Rules for administration of fund for injuries of adults in custody) by adults in custody of institutions of the Department of Corrections. [1965 c.285 §55; 1965 c.564 §7; 1967 c.253 §1; 1969 c.247 §2; 1971 c.262 §1; 1977 c.659 §3; 1979 c.815 §10; 1979 c.829 §5a; 1981 c.854 §52; 1981 c.876 §7; 1990 c.1 §3; 2007 c.326 §1; 2019 c.213 §150]
Attorney General Opinions
Authority of SAIFCO to incorporate wholly owned subsidiary corporation as licensed domestic workers’ compensation insurer, (1982) Vol 42, p 352