Regulatory Alerts2022-08-11 | Bulletin 2022-5Added · Updated
Oregon Division of Financial Regulation Bulletin 2022-5: Communications Regarding the State Wildfire Risk Map
The Oregon Division of Financial Regulation issued Bulletin 2022-5 to instruct insurance producers on providing truthful communications regarding the state wildfire risk map. The bulletin clarifies that insurers are not currently using the map for rating or underwriting and warns that falsely attributing policy decisions to it violates the Insurance Code. Producers are directed to consult their companies to accurately relay the actual factors used in pricing and underwriting decisions to avoid civil penalties.