Factors to be considered by director in determining whether to approve assumption reinsurance agreement.

  1. Law
  2. Oregon Revised Statutes
  3. Financial Institutions, Insurance
  4. Insurance Policies Generally; Property and Casualty Policies
  5. Factors to be considered by director in determining whether to approve assumption reinsurance agreement.

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(1) The financial condition of the transferring and assuming insurers and the effect the transaction will have on the financial condition of each insurer.

(2) The competence, experience and integrity of the persons controlling the operation of the assuming insurer.

(3) The plans or proposals of the assuming party with respect to the administration of the policies subject to the proposed transfer.

(4) Whether the transfer is fair and reasonable to the policyholders of both insurers.

(5) Whether the notice of transfer to be provided by the insurer under ORS 742.156 is fair, adequate and not misleading. [1995 c.30 §4]


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