Oregon Statutes - Chapter 646A - Trade Regulation - Section 646A.438 - Reimbursement insurance; requirements; insurer qualifications.

(1) A warrantor shall obtain a reimbursement insurance policy from a qualified reimbursement insurer that covers all liability to the consumer under all vehicle protection product warranties a warrantor issues. A qualified reimbursement insurer is:

(a) An insurer authorized to transact insurance in this state under a certificate of authority issued in accordance with the Insurance Code; or

(b) A surplus lines insurer.

(2) The Department of Consumer and Business Services may not require any other financial security requirements or financial standards for warrantors. [2007 c.685 §5]

Note: See note under 646A.430.

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Last modified: August 7, 2008