Regulatory Alerts2024-01-01 | Bulletin 2024-5Oregon Bulletin 2024-5: Expectations of Insurance Producers Regarding Homeowners Insurance Underwriting and Rating Decisions
The Oregon Department of Consumer and Business Services issued Bulletin DFR 2024-5 to remind insurance producers that the Oregon Insurance Code prohibits making untrue, deceptive, or misleading statements regarding homeowners insurance underwriting and rating. The regulator cites recent complaints where producers falsely claimed insurers were excluding specific geographic areas or ignoring neighborhood risk factors, actions that violate state law. Producers are directed to verify all information with their carrier partners to ensure accurate communication with policyholders about the data tools and decisions used in pricing and eligibility.
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