OAR 836-012-0051: Credit for Reinsurance Required by Law

Pursuant to ORS 731.511, the director shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of ORS 731.509(4), (5), (6) or (7), or other appropriate provisions contained in ORS 731.510 to 731.511, but only as to the insurance of risks located in jurisdictions where the reinsurance is required by the applicable law or regulation of that jurisdiction. As used in this rule, "jurisdiction" means any state, district or territory of the United States and any lawful national government.