2011 ORS § 646A.438¹
- • requirements
- • insurer qualifications
(1) A warrantor shall obtain a reimbursement insurance policy from a qualified reimbursement insurer that covers all liability to the consumer under all vehicle protection product warranties a warrantor issues. A qualified reimbursement insurer is:
(a) An insurer authorized to transact insurance in this state under a certificate of authority issued in accordance with the Insurance Code; or
(b) A surplus lines insurer.
(2) The Department of Consumer and Business Services may not require any other financial security requirements or financial standards for warrantors. [2007 c.685 §5]