Regulatory Alerts2020-01-01 | Bulletin 2020-1Oregon Division of Financial Regulation Bulletin DFR 2020-1: Arbitration, Choice of Law, and Choice of Venue Provisions
The Oregon Division of Financial Regulation issued Bulletin DFR 2020-1 to prohibit health, life, and property and casualty insurers from including pre-dispute mandatory arbitration, choice of law, and choice of venue provisions in their policies. The regulator determined that these contractual terms unfairly limit policyholders' ability to adjudicate disputes in Oregon state courts and are therefore disapproved under existing insurance statutes. Any policy form filings containing such prohibited provisions will be rejected, and this directive is effective immediately upon issuance.
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