Regulatory Alerts2017-06-27 | Bulletin 2017-3Added · Updated
Oregon Division of Financial Regulation Bulletin 2017-3
The Oregon Division of Financial Regulation issued Bulletin 2017-3 to formally withdraw Bulletin 2011-1, which previously provided interim guidance on the Federal Nonadmitted and Reinsurance Reform Act. This withdrawal occurs because Oregon law was updated via House Bill 2679 to conform with federal requirements, rendering the previous interim reporting mandates obsolete. Consequently, surplus lines licensees are no longer required to submit premium tax allocation information for multi-state policies as the associated sharing arrangement agreements were never established.
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