2015 ORS 742.043¹
Binders

(1) Binders or other contracts for temporary insurance may be made orally or in writing, and shall be deemed to include all the usual terms of the policy as to which the binder was given together with such applicable indorsements as are designated in the binder, except as superseded by the clear and express terms of the binder.

(2) Except as provided in subsection (3) of this section and ORS 746.195 (Insurance on property securing loan or credit), within 90 days after issue of a binder a policy shall be issued in lieu thereof, including within its terms the identical insurance bound under the binder and the premium therefor.

(3) If the policy has not been issued a binder may be extended or renewed beyond such 90 days with the written approval of the Director of the Department of Consumer and Business Services, or in accordance with such rules relative thereto as the director may promulgate.

(4) This section does not apply to life or health insurance. [Formerly 743.075]

(formerly 743.075)

Notes of Decisions

In circumstances where an oral binder and an issued policy are not substantially the same, the oral binder allowing greater coverage, a plaintiff will be limited to recovery on the policy. Farley v. United Pac. Ins. Co., 269 Or 549, 525 P2d 1003 (1974)

Insurer, who wished to exclude renter pilot as insured under binder, should have designated specified pro­vi­sion in binder as indorse­ment or by clear and express terms in binder excluded renter pilot as insured. Avemco Ins. Co. v. Hill, 76 Or App 185, 708 P2d 640 (1985)


1 Legislative Counsel Committee, CHAPTER 742—Insurance Policies Generally; Property and Casualty Policies, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors742.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 742, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano742.­html (2015) (last ac­cessed Jul. 16, 2016).
 
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.