OAR 836-060-0046: Supervision of Credit Insurance Operations

(1) Once every rate review period established under OAR 836-060-0041(4), each insurer transacting credit insurance in this state shall be responsible for conducting a thorough review of creditors with respect to the insurer's credit insurance business with such creditors, to assure compliance with the Oregon Insurance Code and 836-060-0000 through 836-060-0060. (2) The insurer shall maintain written records of these reviews for review by the Director. The records shall: (a) Review and report the creditor's activities according to OAR 836-060-0011(5); and (b) Verify the prompt and timely payment of claims and accuracy of refunds.