Regulatory Alerts2024-01-01 | Bulletin 2024-7Bulletin 2024-7: Requirement of insurers to file underwriting guidelines
The Oregon Department of Consumer and Business Services issued Bulletin 2024-7 to remind property and casualty insurers of their legal obligation to file underwriting guidelines with the Division of Financial Regulation. This requirement mandates that insurers include full copies of underwriting guidelines as part of their rating systems and reflect wildfire risk mitigation actions, such as defensible space and home hardening, in accordance with SB 82. Insurers must file these documents and any subsequent revisions prior to implementation to comply with the Oregon Insurance Code.
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