Director authority if reinsurance intermediary broker or manager violates provisions of ORS 744.800 to 744.818
If the Director of the Department of Consumer and Business Services finds that a reinsurance intermediary broker or a reinsurance intermediary manager has violated any provision of ORS 744.800 (Qualifications for reinsurance intermediary brokers and managers) to 744.818 (Errors and omissions insurance for reinsurance intermediary manager), the director may order the reinsurance intermediary broker or reinsurance intermediary manager to reimburse the insurer, reinsurer, rehabilitator or liquidator for losses incurred by the insurer or reinsurer because of the violation. The director may take action under this section in addition to or instead of any other action that the director may take under the Insurance Code. [1993 c.447 §83a; 2003 c.364 §37]
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