Or. Admin. R. 836-043-0300
Current through Register Vol. 63, No. 9, September 1, 2024
Section 836-043-0300 - Qualifications for Workers' Compensation Rating Oganizations(1) Prior to operating in Oregon, a worker's compensation rating organization shall apply to the Director for a license. The Director shall act on the application within 60 days of the application. Prior to approving any applicant's license, the Director shall determine that the organization meets the qualifications and requirements of ORS 737.355(1).(2) The rating organization shall include with its application the following documents: (a) Copies of its articles of incorporation,(c) Biographies of its corporate officers,(d) A description of its operation,(e) Copies of its last three quarterly financial statements,(f) A copy of its two most recent annual report,(g) Copies of its Securities and Exchange Commission filings, if any.(3) The rating organization's application shall demonstrate to the Director's satisfaction: (a) The level of professional staffing that the rating organization will dedicate to serving insurers within Oregon, including the number of actuaries, statisticians and economists, the number of years of experience of each professional staff member and the professional designations of its staff;.(b) The capacity and quality of the rating organization's electronic data processing system dedicated to the workers' compensation rating system in Oregon.(c) The rating organization's knowledge of insurance ratemaking both generally and within Oregon; and(d) The rating organization's availability to its clients in Oregon.Or. Admin. R. 836-043-0300
ID 3-2000, f. & cert. ef. 3-29-00Stat. Auth.: ORS 731.244 and 737.355
Stats. Implemented: ORS 737.355