Oregon Statutes - Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Rental Company Limited Licenses - Section 744.856 - Conditions for issuance of insurance; training; filing officer.

(1) A rental company issued a limited license under ORS 744.852 may not issue insurance pursuant to ORS 744.854 unless:

(a) The rental agreement is for a period of 90 consecutive days or less.

(b) At every location where rental agreements are executed, there is written material available to prospective renters that:

(A) Summarizes clearly and correctly the material terms of the coverage offered and identifies the insurer;

(B) Discloses that the coverage offered by the rental company may duplicate coverage already provided by a renterís personal motor vehicle liability insurance policy, personal liability insurance policy or other source of coverage;

(C) States that the purchase of the coverage offered is not required in order to rent a vehicle; and

(D) Describes the process for filing a claim.

(c) The written material referred to in paragraph (b) of this subsection has been filed with and approved by the Director of the Department of Consumer and Business Services.

(d) The rental agreement separately discloses the price for the coverage purchased.

(2) A rental company issued a limited license under ORS 744.852 must conduct a training program for employees concerning kinds of coverage offered by the company. The syllabus for the training program shall be filed annually with the Director of the Department of Consumer and Business Services by the rental company and is subject to approval by the director. The rental company shall certify annually to the director that all employees involved in the sale or offer of coverage to members of the public have completed or will complete the training program prior to conducting such sales or offers. The rental company shall also certify annually to the director that all such employees will receive continuing education on a regular basis concerning the topics covered in the training program. The rental companyís compliance with its certification to the director and with the filed training program syllabus is subject to audit by the Department of Consumer and Business Services.

(3) A rental company issued a limited license under ORS 744.852 may not advertise, represent or otherwise hold itself or its employees out as licensed insurers or insurance producers.

(4) A rental company issued a limited license under ORS 744.852 may offer and sell insurance only in connection with and incidental to the rental of vehicles.

(5) A rental company issued a limited license under ORS 744.852 shall designate an executive as the statewide filing officer for the rental company. [1999 c.485 §5; 2003 c.364 §132]

Note: See note under 744.850.

Section:  Previous  744.804  744.806  744.808  744.810  744.812  744.814  744.816  744.818  744.820  744.850  744.852  744.854  744.856  744.858  744.990  Next

Last modified: August 7, 2008