OAR 836-071-0315: Managing General Agents; Dollar Amounts Governing Settlement Authority Procedures Under Contract with Insurer

For the purpose of the requirement of the written contract between a managing general agent and an insurer established under ORS 744.306, if the contract permits the managing general agent to settle claims on behalf of the insurer: (1) The amount established by the Director for purposes of ORS 744.306(4)(b)(A) is $10,000. (2) The amount established by the Director for purposes of ORS 744.306(4)(c) is $10,000.