Regulatory Alerts2005-01-01 | Bulletin 2005-4Oregon Insurance Division Bulletin 2005-4: New Legislation SB 118
The Oregon Insurance Division issued Bulletin 2005-4 to inform insurers of Senate Bill 118, which imposes new limits on using claim history and inquiries in homeowner insurance underwriting and rating. The legislation restricts insurers from considering claims older than five years or initial inquiries when issuing or renewing policies, while allowing consideration of subsequent claims within that window. Insurers must ensure their underwriting guidelines and rating plans comply with these requirements by filing compliant documents or notifying the Division of existing compliance before the January 1, 2006 effective date.
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