Or. Admin. R. 836-043-0125

Current through Register Vol. 63, No. 9, September 1, 2024

Section 836-043-0125 - Purpose

A Test Audit Program shall be conducted by the bureau to carry out ORS 737.318. To perform this function, the bureau shall maintain the test audit staff for examining pertinent records of a number of Oregon insureds and insurers established according to the schedule in Exhibit 1 of OAR 836-043-0130, or other appropriately credible audit levels as determined by the director. The purposes of the test audit program are as follows:

(1) To check the accuracy and reliability of each insurer's audits, verify the classifications assigned, and assure that the premiums charged are based upon filed rates, rating plans and rating systems on file with and approved by the director;

(2) To establish minimum auditing standards and to develop a program for monitoring insurer performance toward the achievement of established standards; and

(3) To improve audit proficiency through the evaluation of insurer auditing practices.

Or. Admin. R. 836-043-0125

ID 1-1988, f. & cert. ef. 1-20-88; ID 7-1997(Temp), f. & cert. ef. 5-30-97; ID 18-1997, f. 11-25-97, cert. ef. 11-26-97; ID 13-2012, f. 7-16-12, cert. ef. 1-1-13; ID 5-2019, amend filed 04/19/2019, effective 7/1/2019

Exhibits referenced are available from the agency.

Statutory/Other Authority: ORS 731.244 & 737.318

Statutes/Other Implemented: ORS 737.318