Regulatory Alerts2019-10-28 | Bulletin 2020-1Added · Updated
Report on Proposed Bulletin DFR 2020-1: Arbitration Clauses, Choice of Law, and Choice of Venue Provisions in Insurance Policies
The Oregon Division of Financial Regulation issued a report on public comments regarding its proposed bulletin prohibiting pre-dispute mandatory arbitration, choice of law, and choice of venue provisions in insurance policies. All commenters supported the measure, with stakeholders recommending minor textual clarifications to ensure the guidance applies to all insurance lines and allows post-dispute arbitration agreements. The analyst recommends adopting these specific wording changes to align the bulletin with Oregon Supreme Court rulings and enhance consumer protection across personal and commercial lines.
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