ORS 731.102¹

“Insurance.” (1) “Insurance” means a contract whereby one undertakes to indemnify another or pay or allow a specified or ascertainable amount or benefit upon determinable risk contingencies.

(2) “Insurance” so defined includes annuities.

(3) “Insurance” so defined includes a contract under which one other than a manufacturer, builder, seller or lessor of the subject property undertakes to perform or provide, for a fixed term and consideration, repair or replacement service or indemnification therefor for the operational or structural failure of specified real or personal property or property components. Insurance does not include contracts with a telecommunications utility as defined in ORS 759.005 (Definitions), for repair, replacement or maintenance of customer-owned inside wiring.

(4) “Insurance” so defined does not include a contract under which an owner rents or leases an animal to a person or to a public body, as defined in ORS 174.109 (“Public body” defined), if the owner retains an obligation to provide for veterinary care or other needs of the animal. [1967 c.359 §21; 1981 c.247 §1; 1985 c.633 §5; 1987 c.447 §111; 2017 c.677 §5]

Notes of Decisions

Employer’s disability income plan was not “insurance” as defined in this sec­tion. McHorse v. Portland Gen. Elec. Co., 268 Or 323, 521 P2d 315 (1974)

Chapter 731

Atty. Gen. Opinions

Vehicle service contracts sold to purchasers by motorcycle and motor vehicle dealers as constituting sale of insurance, (1978) Vol 38, p 2218

1 Legislative Counsel Committee, CHAPTER 731—Administration and General Provisions, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors731.­html (2019) (last ac­cessed May 16, 2020).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2019, Chapter 731, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano731.­html (2019) (last ac­cessed May 16, 2020).
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information