The Director of the Department of Consumer and Business Services shall consider the following factors, along with other factors that the director determines to be appropriate, in reviewing a request for approval of an assumption reinsurance agreement to which ORS 742.150 applies:
(1) The financial condition of the transferring and assuming insurers and the effect the transaction will have on the financial condition of each insurer.
(2) The competence, experience and integrity of the persons controlling the operation of the assuming insurer.
(3) The plans or proposals of the assuming party with respect to the administration of the policies subject to the proposed transfer.
(4) Whether the transfer is fair and reasonable to the policyholders of both insurers.
(5) Whether the notice of transfer to be provided by the insurer under ORS 742.156 is fair, adequate and not misleading. [1995 c.30 §4]
Section: Previous 742.080 742.090 742.100 742.110 742.120 742.150 742.152 742.154 742.156 742.158 742.160 742.162 742.200 742.202 742.204 NextLast modified: August 7, 2008