Regulatory Alerts2020-01-01 | Bulletin 2020-4Oregon DFR Bulletin 2020-4: Unfair Claim Settlement Practices Related to Virtual Claim Adjustment Systems and Mobile Applications
The Oregon Division of Financial Regulation issued Bulletin 2020-4 to guide auto insurers on avoiding unfair claim settlement practices when utilizing virtual claim adjustment systems and mobile applications. The bulletin mandates that insurers must provide in-person adjusters upon request and prohibits requiring third-party claimants to use mobile apps for claim submission. Insurers face civil penalties for failing to conduct reasonable investigations or systematically making low initial settlement offers that rely on insureds to dispute them.
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