Factors to be considered by director in determining whether to approve assumption reinsurance agreement
The Director of the Department of Consumer and Business Services shall consider the following factors, along with other factors that the director determines to be appropriate, in reviewing a request for approval of an assumption reinsurance agreement to which ORS 742.150 (Approval by director) applies:
(1) The financial condition of the transferring and assuming insurers and the effect the transaction will have on the financial condition of each insurer.
(2) The competence, experience and integrity of the persons controlling the operation of the assuming insurer.
(3) The plans or proposals of the assuming party with respect to the administration of the policies subject to the proposed transfer.
(4) Whether the transfer is fair and reasonable to the policyholders of both insurers.
(5) Whether the notice of transfer to be provided by the insurer under ORS 742.156 (Notice of transfer under assumption reinsurance agreement) is fair, adequate and not misleading. [1995 c.30 §4]
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