Exemption from definition of “transact insurance” for group health and life policies
- • master group health and life insurance coverage
- • rules
(1) The exemption in ORS 731.146 (“Transact insurance”) (2)(b) does not apply to an insurer that offers coverage under a group health insurance policy or a group life insurance policy in this state unless the Director of the Department of Consumer and Business Services determines that the exemption applies.
(2) The insurer shall submit evidence to the director that the exemption applies. When a master policy is delivered or issued for delivery outside this state to trustees of a fund for two or more employers, for one or more labor unions, for one or more employers and one or more labor unions or for an association, the insurer shall also submit evidence showing compliance with:
(a) ORS 743.526 (Determination of whether trustees are policyholders), for a policy of group health insurance; or
(b) ORS 743.354 (Requirements for certain group life policies issued to trustees of certain funds), for a policy of group life insurance.
(3) The director shall review the evidence submitted and may request additional evidence as needed.
(4) An insurer shall submit to the director any changes in the evidence submitted under subsection (2) of this section.
(5) The director may order an insurer to cease offering a policy or coverage under a policy if the director determines that the exemption under ORS 731.146 (“Transact insurance”) (2)(b) is no longer satisfied.
(6) Coverage under a master group life or health insurance policy delivered or issued for delivery outside this state that does not qualify for the exemption in ORS 731.146 (“Transact insurance”) (2)(b) may be offered in this state if the director determines that the state in which the policy was delivered or issued for delivery has requirements that are substantially similar to those established under ORS 743.360 (Alternative group life insurance coverage) or 743.522 (Additional groups designated by director) (2) and that the policy satisfies those requirements.
(7) This section does not apply to any master policy issued to a multistate employer or labor union.
(8) The director may adopt rules to carry out this section. [1989 c.784 §3; 2001 c.943 §1; 2005 c.22 §486; 2007 c.752 §§3,8]
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.