ORS 744.079
Termination of relationship with insurance producer


(1)

An insurer or authorized representative of the insurer who terminates the appointment, employment, contract or other insurance business relationship with an insurance producer shall notify the Director of the Department of Consumer and Business Services not later than the 30th day after the effective date of the termination, in the manner prescribed by the director, if the reason for termination is one of the reasons set forth in ORS 744.074 (Authority of director to place licensee on probation or to suspend, revoke or refuse to issue or renew license) or if the insurer has knowledge that the insurance producer was found by a court, government body or self-regulatory organization authorized by law to have engaged in any of the activities set forth in ORS 744.074 (Authority of director to place licensee on probation or to suspend, revoke or refuse to issue or renew license). Upon the written request of the director, the insurer shall provide additional information, documents, records or other data pertaining to the termination or activity of the insurance producer.

(2)

An insurer or the authorized representative of the insurer shall promptly notify the director in a manner acceptable to the director if, upon further review or investigation, the insurer discovers additional information that would have been reportable to the director in accordance with subsection (1) of this section if the insurer had then known of its existence.

(3)

Not later than the 15th day after making a notification required by subsection (1) or (2) of this section, the insurer shall mail a copy of the notification to the insurance producer at the insurance producer’s last known business address. If the insurance producer is terminated for cause for any of the reasons listed in ORS 744.074 (Authority of director to place licensee on probation or to suspend, revoke or refuse to issue or renew license), the insurer shall provide a copy of the notification to the insurance producer at the insurance producer’s last known business address by certified mail, return receipt requested, postage prepaid or by overnight delivery using a nationally recognized carrier.

(4)

Not later than the 30th day after the insurance producer has received a notification under subsection (3) of this section, the insurance producer may file with the director written comments concerning the substance of the notification. The insurance producer shall, by the same means, simultaneously send a copy of the comments to the reporting insurer. The comments shall become a part of the director’s file and shall accompany every copy of a report distributed or disclosed for any reason about the insurance producer as allowed under subsection (5) of this section.

(5)

In the absence of actual malice, an insurer, the authorized representative of the insurer, an insurance producer, the director or an organization of which the director is a member and that compiles the information and makes it available to other insurance regulators or regulatory or law enforcement agencies shall not be subject to civil liability. In the absence of actual malice, a civil cause of action shall not arise against any such entity or its agents or employees as a result of any statement or information required by or provided pursuant to this section, or any information relating to any statement that may be requested in writing by the director from an insurer or insurance producer, or relating to a statement by a terminating insurer or insurance producer to an insurer or insurance producer, that is limited exclusively to whether a termination for cause under subsection (1) of this section was reported to the director. Immunity under this subsection is available only if the propriety of any termination for cause under subsection (1) of this section is certified in writing by an officer or authorized representative of the insurer terminating the relationship.

(6)

In any action brought against a person who may have immunity under subsection (5) of this section for making any statement required by this section or providing any information relating to any statement that may be requested in writing by the director, the party bringing the action must plead specifically in any allegation that subsection (5) of this section does not apply because the person making the statement or providing the information did so with actual malice.

(7)

Subsections (5) and (6) of this section do not abrogate or modify any existing statutory or common law privileges or immunities.

(8)

The director may take any administrative action authorized by the Insurance Code, including suspension or revocation of a license or certificate of authority, against an insurer, the authorized representative of an insurer or an insurance producer who fails to file notice as required by this section or who is found by a court of competent jurisdiction to have filed notice with actual malice.

(9)

Any information, documents, records or other data in the control or possession of the director that are furnished by an insurer or an insurance producer, or an employee or agent thereof acting on behalf of the insurer or insurance producer, or that are obtained by the director in an investigation pursuant to this section shall be confidential, shall not be subject to subpoena and shall not be subject to discovery nor admissible in evidence in any private civil action. The director, however, may use the confidential information, documents, records or other data in administering this section and in the furtherance of any other regulatory or legal action brought as a part of the director’s duties. The information, documents, records or other data referred to in this subsection are subject to the public officer privilege described in ORS 40.270 (Rule 509. Public officer privilege). [2001 c.191 §17; 2003 c.364 §19]

Source: Section 744.079 — Termination of relationship with insurance producer, https://www.­oregonlegislature.­gov/bills_laws/ors/ors744.­html.

744.052
Definitions for ORS 744.052 to 744.089
744.053
Requirements to be licensed as insurance producer for class of insurance
744.056
Exemptions from insurance producer licensing requirements
744.058
Written examination
744.059
Qualifications for license
744.061
Banking institution as insurance producer
744.062
Issuance of insurance producer license
744.063
Nonresident insurance producer license
744.064
Persons licensed elsewhere
744.067
Exemptions from prelicensing education or examination requirement
744.068
Required notifications
744.072
Renewal or reinstatement of insurance producer license
744.073
Temporary insurance producer license
744.074
Authority of director to place licensee on probation or to suspend, revoke or refuse to issue or renew license
744.076
Payment of commission, service fee or brokerage
744.077
Conditions under which person licensed as insurance producer and consultant may accept commission or fee
744.078
Appointment of insurance producers
744.079
Termination of relationship with insurance producer
744.081
Termination of appointment
744.082
Waiver of requirement for nonresident insurance producer license applicant
744.083
Trust account for premium funds
744.084
Certificate of deposit in lieu of trust account
744.086
Applicability of Insurance Code to insurance producers transacting title insurance
744.087
Filing insurance producers compensation agreements
744.088
Training requirements to be licensed as insurance producer for long term care insurance
744.089
Report of administrative action taken against insurance producer
744.091
Additional conditions under which person licensed as insurer or insurance producer may charge commission or service fee
744.093
Solicitation or sale of insurance policy by retail insurance producer or wholesale insurance producer
744.101
Definitions
744.104
Travel insurance through travel retailers
744.107
Violations
744.111
Rules
744.300
License and indorsement
744.301
Exemptions from license requirement
744.303
Certificate of errors and omissions insurance
744.306
Contract between insurer and managing general agent
744.308
Limitations on authority of insurer and managing general agent
744.311
Books, bank accounts and records
744.313
Financial examination
744.314
Rules
744.316
Authority of director if managing general agent violates provisions of ORS 744.300 to 744.316
744.318
Definitions for ORS 744.318 to 744.384
744.321
Life settlement providers
744.323
Life settlement brokers
744.324
Life settlement investment agents
744.326
License application
744.328
Issuance of license
744.331
Expiration of license
744.333
Individual acting as provider under license of firm or corporation
744.336
Notification by licensee of material change affecting qualification for license
744.338
Suspension, revocation, refusal to issue or renew license
744.341
Terms of contract
744.343
Annual report and statement by provider
744.346
Examination of business and practices of licensee or applicant
744.354
Disclosure by life settlement provider, broker or investment agent to policy owner
744.359
Disclosure by life settlement broker or provider to insurer
744.362
Disclosure by insurance company to policy owner
744.364
Life settlement contract requirements
744.367
Limitations on ability to enter life settlement contract
744.369
Unlawful life settlement contract actions
744.372
Advertising of life settlement contracts
744.374
Enforcement of life settlement contract provisions
744.382
Prohibitions on finder’s fee, solicitations, discrimination
744.384
Rules
744.502
Definitions
744.505
Adjuster license required
744.515
Exemptions from adjuster licensing requirement
744.518
License application
744.521
Powers of director to issue, renew, amend, suspend and reinstate licenses
744.523
Conditions for licensing, renewing license for or amending license of business entity
744.525
Resident adjuster qualifications
744.528
Nonresident adjuster qualifications
744.531
Classes of insurance for adjusters
744.538
Change of circumstance of nonresident adjuster
744.541
Adjustment of claim under policy issued by unauthorized insurer
744.555
Temporary adjuster permit
744.575
Adjusting claims involving credit life or credit health insurance
744.578
Licensee’s place of business
744.581
Notices required
744.584
Prohibited conduct
744.602
Definitions
744.605
Insurance consultant’s license required
744.609
Exemptions
744.611
License application
744.614
Powers of director to issue, renew, amend, suspend and reinstate licenses
744.617
Conditions for licensing, renewing license for or amending license of business entity
744.619
Qualifications for resident insurance consultant’s license
744.621
Qualifications for nonresident insurance consultant’s license
744.626
Classes of insurance for consultants
744.631
Change of circumstance of nonresident insurance consultant
744.635
Errors and omissions insurance
744.638
Licensee’s place of business
744.641
Notices required
744.644
Prohibited conduct
744.650
Disclosure by insurance consultants
744.655
Rebates prohibited
744.665
Continuing education
744.700
Definitions for ORS 744.700 to 744.740
744.702
Third party administrator license
744.704
Exemptions from license requirement
744.706
Application for license
744.708
Waiver of information requirement
744.710
Issuance or denial of license
744.712
Expiration and renewal of license
744.714
Registration of persons exempt from licensure
744.716
Notification of change in ownership or control
744.718
Suspension, revocation or refusal of issuance or renewal of license
744.720
Agreement between insurer and third party administrator
744.722
Relationship of insurer and third party administrator regarding payments
744.724
Books and records
744.726
Errors and omissions insurance
744.728
Advertising
744.730
Disposition of charges and premiums
744.732
Contingent fee agreements
744.734
Notice to insureds regarding third party administrator
744.736
Delivery from insurer to insured
744.738
Annual report
744.740
Responsibility of insurer using third party administrator
744.800
Qualifications for reinsurance intermediary brokers and managers
744.802
Exemptions from application of requirements for reinsurance intermediary brokers and managers
744.804
Conditions under which reinsurance intermediary broker and insurer may enter into transactions
744.806
Records required to be kept by reinsurance intermediary brokers
744.808
Prohibition on use of unlicensed reinsurance intermediary broker
744.810
Conditions under which reinsurance intermediary manager and reinsurer may enter into transactions
744.812
Prohibitions on actions of reinsurance intermediary managers
744.814
Prohibition on use of unlicensed reinsurance intermediary manager
744.816
Director access to books, accounts and records
744.818
Errors and omissions insurance for reinsurance intermediary manager
744.820
Director authority if reinsurance intermediary broker or manager violates provisions of ORS 744.800 to 744.818
744.850
Definitions for ORS 744.850 to 744.858
744.852
Limited license for rental companies
744.854
Kinds of insurance authorized by limited license
744.856
Conditions for offer or sale of insurance
744.858
Revocation or suspension of limited license
744.860
Definitions for ORS 744.860 to 744.870
744.862
Limited license to sell insurance
744.864
Permissible sales
744.866
Training program
744.868
License suspension and revocation or other penalty
744.870
Compensation, bonuses and incentives
744.872
Rules
744.991
Criminal penalties
744.992
Civil penalties
744.994
Effect of license expiration or surrender on director’s investigation or disciplinary proceedings
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