Regulatory Alerts2015-01-01 | Bulletin 2015-2Oregon Insurance Division Bulletin 2015-2: Life Discretionary Groups
The Oregon Insurance Division clarifies its policy to approve life discretionary groups under ORS 743.360, reversing a prior prohibition that prevented certain public-benefit groups from obtaining life insurance. The bulletin explicitly states that approval for life insurance does not extend to health insurance products, requiring insurers to seek separate approval for health coverage under different statutory provisions. Insurers must file for approval in accordance with ORS 742.003 and demonstrate that the issuance is in the public interest, results in administrative economies, and offers reasonable benefits relative to premiums.
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