FEE SCHEDULE NEWS:

• The state has updated their fee schedule effective January 1, 2018.

REGULATORY ACTIVITY:

• Several auto insurance companies have been working with the Oregon Division of Financial Regulation to provide auto insurance premium refunds and credits to Oregonians. The refunds and credits are due to the reduced risk of auto accidents because of Gov. Kate Brown’s Stay Home, Save Lives executive order. The division encourages all carriers to consider providing refunds that reflect the reduced risk of auto liabilities due to the emergency order. This includes taking steps to reclassify vehicle usage, and properly adjusting any mileage-based policy metrics. Last week, the division provided guidance to insurance carriers for issuing the refunds to help process the filings and get money to consumers as quickly as possible. “Thank you to the insurance companies that have stepped up to provide these refunds to their customers,” said Andrew Stolfi, Oregon insurance commissioner. “Our division is proud to help insurance companies provide this much needed relief to Oregonians.”  In addition to the premium refunds, the division has asked all insurers to provide temporary private passenger auto insurance coverage for drivers delivering food, prescriptions, and other products for their employers. “The coronavirus has forced many businesses to rely on delivery services as a primary source of income. This has created an urgent need for insured delivery drivers,” said Stolfi. “Providing this coverage helps employers maintain essential income and keeps many of their employees working.” Consumers who have insurance or financial services questions related to COVID-19 can visit the division’s COVID-19 page. If you have questions about your auto insurance premium refund or about your insurance coverage, contact your insurance company. If you have issues with an insurance company or agent, contact the division’s advocacy team one of three ways: Visit: dfr.oregon.gov; Email: insurancehelp@oregon.gov; Call: 888-877-4894 (toll-free). Emailing documents to the DWC district offices where the filing party cannot e-file, JET file or file by U.S. mail. Documents that must be filed with DWC and which are subject to statutory time limits, such as petitions for reconsideration, removal, disqualification, applications for adjudication of claim, and petitions to reopen, may be filed via email directly to the district office having venue. Documents that are not subject to statutory time limits may not be filed via email. If such documents cannot be e-filed or JET filed, they must be filed via U.S. mail. The division will reject documents that are improperly filed via email. DWC reminds parties to only use this alternative filing option for these limited documents.
• Issued Bulletin DFR 2020-11 regarding rate reductions and rebates to auto insurance policy holders. The Division of Financial Regulation has received questions from insurers about how to address changes in exposure due to COVID-19 emergency orders. Some of these questions include adding coverage for people using their vehicles differently and temporary rate reductions from decreased claim exposure. This document provides guidance for insurers on how to inform the division about proposed changes and required communications with policyholders.
• Issued Bulletin DFR 2020-12 regarding Implementation of 60-day advance notice of specified prescription drug price increases as required by 2019 House Bill 2658. This Bulletin provides guidance on the form and manner of reports due from pharmaceutical manufacturers at least 60  days in advance of  specified increases in the price of prescription drugs, and clarifies the Department of Consumer and Business Services (department), Division of Financial Regulation's (division) approach to implementing the reporting program under HB 2658.
• Issued bulletin 2020-08 regarding personal automobile policies.  To view the bulletin, go to https://dfr.oregon.gov/laws-rules/Pages/bulletins.aspx.

REGULATORY ACTIVITY:

• The Division of Financial Regulation (DFR) has issued a proposed bulletin that provides guidance to auto insurers on the use of step-down limits in auto policies and outlines disclosures necessary to inform consumers of the nature and extent of coverage. The public comment deadline is Thursday, March 19. Public comments may be submitted to DFR. Bulletin@oregon.gov.
• Published Bulletin Number DFR 2020-4.  The purpose of this bulletin is to provide guidance to auto insurers that use virtual claim adjustment systems on how to avoid unfair claim settlement practices. The bulletin also clarifies when an insurer may require the use of a mobile application to submit a claim.  To view the bulletin, go to https://dfr.oregon.gov/laws-rules/Pages/bulletins.aspx.

REGULATORY ACTIVITY:

• Issued Proposed Financial Regulatory Bulletin No. DFR 2020 regarding guidance on exclusionary language regarding controlled substances.
• Issued Proposed Financial Regulatory Bulletin No. DFR 2020 regarding guidance on intentional acts exclusions.

LEGISLATIVE ACTIONS:

• The Department of Consumer and Business Services, Division of Financial Regulation (DFR) is issuing this memorandum to remind auto insurers of their responsibility to provide required disclosures1 regarding a vehicle total loss in a timely manner. ORS 742.554 requires that total loss disclosures be provided at the time “an insurer declares a motor vehicle a total loss and offers to make a cash settlement.” This means that when a settlement offer is made in writing, the disclosure must be provided simultaneously. When the offer is communicated to the consumer orally, the disclosure must be provided in writing and mailed or delivered electronically within one business day.  Delaying the disclosure until after the settlement offer is a violation of 742.554 and may result in an enforcement action and civil penalties.

REGULATORY ACTIVITY:

• Issued bulletin DFR 2019-01 replacing Insurance Division Bulletin 96-5 regarding use of corporate and assumed business names by insurers.  The bulletin was issued January 7, 2019.  The purpose of this bulletin is to clarify the requirements and procedures relating to the use of corporate and assumed business names by insurers. For purposes of this bulletin, "insurers" includes health care service contractors. Questions about these issues have arisen from insurers in connection with: Recommendations contained in market conduct examinations, and “ Changes in ownership of insurers.  To access the bulletin, go to https://dfr.oregon.gov/laws-rules/Pages/bulletins.aspx.

REGULATORY ACTIVITY:

• Oregon has issued bulletin 2018-3 regarding auto insurers. This Division of Financial Regulation (DFR) Bulletin provides guidance for auto insurers regarding the new Department of Transportation, Driver and Motor Vehicle Services Division (OMV) rule which allows the election of "X" for not-specified as a person's sex on their driver license, driver permit, or identification card.  Auto insurers that have rating plans which rate using the sex or gender of the insured are required to accommodate consumers who designate their sex as not-specified. Rating plans, rating systems and applications that do not allow applicants who designate their sex or gender as not-specified to obtain coverage from an insurer will be considered unfairly discriminatory on the basis of sex.   To view a copy of the bulletin, go to http://dfr.oregon.gov/laws-rules/Pages/bulletins.aspx.