Or. Admin. Code § 836-080-0145

Current through Register Vol. 63, No. 10, October 1, 2024

Section 836-080-0145 - Unfair Forfeiture of Dividend for Failure to Renew Prohibited

An insurer shall not reduce or deny a policyholder dividend because of the policy-holder's refusal to accept renewal of the policy or another policy from the same insurer. A reasonable change in the time schedule for computing or paying a policyholder dividend will not of itself be considered a reduction or denial of the dividend, or unfairly discriminatory, if:

(1) The change is applied uniformly to the policyholders in like circumstances; and

(2) The nature of the change is set forth in a dividend statement that was provided to the policyholder before the inception of the policy for which the change is made.

Or. Admin. Code § 836-080-0145

IC 69, f. & ef. 7-20-76

Stat. Auth.: ORS 731 & ORS 746

Stats. Implemented: ORS 746.015(1), ORS 746.075, ORS 746.160(3) & ORS 746.240