Oregon Code § 734.579·Enacted ·Last updated March 01, 2026
Statute Text
Recoupment assessments; rules.
(1) Each member insurer subject to an Oregon Insurance Guaranty Association
assessment pursuant to ORS 734.570 (3) shall recoup the amount of the
assessment through a recoupment assessment imposed on net direct written
premiums. The member insurer shall fix the amount of the recoupment assessment
at an amount sufficient to reimburse the member insurer for the amount of
Oregon Insurance Guaranty Association assessments paid by the member insurer.
(2) Each member
insurer shall annually certify to the Director of the Department of Consumer
and Business Services the total amount of recoupment assessments assessed for
the year and that the amount assessed does not exceed the amount of Oregon
Insurance Guaranty Association assessments imposed and not previously recouped
or offset against corporate excise taxes or fire insurance gross premiums
taxes.
(3) The director
may by rule establish a minimum threshold for which a recoupment assessment
under subsection (1) of this section need not be made.
(4) The Department
of Consumer and Business Services, pursuant to rules adopted by the director,
may audit member insurer determinations of recoupment assessments.
(5) Recoupment
assessments shall be separately stated on premium billing statements.
Recoupment assessments may not be considered gross premiums for any purpose. [2003
c.568 §2]