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Oregon Revised Statutes

Or. Rev. Stat. § 731.102 (2026)

“Insurance.”

✓ current as of May 2026
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      731.102 “Insurance.” (1) “Insurance” means a contract whereby one undertakes to indemnify another or pay or allow a specified or ascertainable amount or benefit upon determinable risk contingencies.

      (2) “Insurance” so defined includes annuities.

      (3) “Insurance” so defined includes a contract under which one other than a manufacturer, builder, seller or lessor of the subject property undertakes to perform or provide, for a fixed term and consideration, repair or replacement service or indemnification therefor for the operational or structural failure of specified real or personal property or property components. Insurance does not include contracts with a telecommunications utility as defined in ORS 759.005, for repair, replacement or maintenance of customer-owned inside wiring.

      (4) “Insurance” so defined does not include a contract under which an owner rents or leases an animal to a person or to a public body, as defined in ORS 174.109, if the owner retains an obligation to provide for veterinary care or other needs of the animal. [1967 c.359 §21; 1981 c.247 §1; 1985 c.633 §5; 1987 c.447 §111; 2017 c.677 §5]

Notes of Decisions
Cited in 16 cases (1 in the last 5 years), 1971–2022 · leading case: ZRZ Realty Co. v. Beneficial Fire & Cas. Ins., 194 P.3d 167 (Or. Ct. App. 2008).
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ZRZ Realty Co. v. Beneficial Fire & Cas. Ins., 194 P.3d 167 (Or. Ct. App. 2008). · cites it 4× “We are not persuaded that the definition of insurance in ORS 731.102 somehow writes into the bumbershoot policies a requirement that the loss be unexpected.”
Haynes v. Tri-Cnty. Metro. Transp., 103 P.3d 101 (Or. 2004). · cites it 2× “” ORS 731.102. TriMet argues that those definitions suggest that an insurance policy is limited to a written insurance contract between an insurer and an insured and that this case involves no such contract.”
Ashby v. Farmers Grp., Inc., 261 F. Supp. 2d 1213 (D. Or. 2003). · cites it 2× “” Or.Rev.Stat. § 731.102(1). FGI argues it cannot “transact insurance” under the Oregon Insurance Code because it is not licensed as an “insurer.”
McHorse v. Portland Gen. Elec. Co., 521 P.2d 315 (Or. 1974). · cites it 2× “ORS 731.102 defines "insurance" as "a contract whereby one undertakes to indemnify another or pay or allow a specified or ascertainable amount or benefit upon determinable risk contingencies, and includes annuities.”
Farmers Ins. v. Snappy Car Rental, Inc., 876 P.2d 833 (Or. Ct. App. 1994). · cites it 2× “" Unlike insurance, a certificate of self-insurance does not provide indemnity to a named insured; rather, it protects the public against the uninsured or underinsured driver's negligent use of the certificate holder's vehicles by proof of an ability to pay damages.”
Harsh Inv. Corp. v. State Ex Rel. State Hous. Div., 744 P.2d 588 (Or. Ct. App. 1987). “” Mortgage insurance is “a contract where one undertakes to indemnify another * * * upon determinable risk contingencies,” ORS 731.102(1), “against financial loss” from the “[nonpayment of principal, interest and other sums agreed to be paid under the terms of an obligation…”
Interstate Fire & Cas. Co. v. Abernathy, 93 So. 3d 352 (Fla. 1st DCA 2012). “”); Or.Rev.Stat. § 731.102(1) (2011) ("Insurance” means "a contract whereby one undertakes to indemnify another or pay or allow a specified or ascertainable amount or benefit upon determinable risk contingencies.”
Aqua-Marine Constructors, Inc. v. Banks, 110 F.3d 663 (9th Cir. 1997). “Or.Rev.Stat. § 731.102(1). The performance bond in the present appeal in effect insured Plaintiff-Respondent Aqua-Marine against Michael Banks’ failure to make proper redelivery of the subject oceangoing barge at Everett, Washington.”
Haynes v. Tri-Cnty. Metro. Transp. Dist., 103 P.3d 101 (Or. 2004). · cites it 2× “" ORS 731.102. Tri-Met argues that those definitions suggest that an insurance policy is limited to a written insurance contract between an insurer and an insured and that this case involves no such contract.”
Haynes v. Tri-Cnty. Metro. Transp., 79 P.3d 353 (Or. Ct. App. 2003). · cites it 2× “” ORS 731.102(1) (emphasis added). For the reasons discussed above in regard to the statutory definition of “policy,” the definition of “insurance” in ORS 731.”
Richardson v. Ry. Express Agency, Inc., 482 P.2d 176 (Or. 1971). “” (Emphasis added) ORS 731.102 defines “Insurance”: “ ‘Insurance’ means a contract whereby one undertakes to indemnify another or pay or allow a specified or ascertainable amount or benefit upon determinable risk contingencies, and includes annuities.”
Beverly Enter., Inc. v. Senior Servs. Div., 809 P.2d 1360 (Or. Ct. App. 1991). “It contends, however, that, under Oregon law and SSD’s rule defining “self-insured,” as expressed in its decision in this case, its protection provided by the arrangement with Travelers and Indemnity involves an actual shifting of its risk of loss and, therefore, the arrangement…”
Show all 16 citing cases →
— Or. Rev. Stat. § 731.102(1) — 10 cases
Ashby v. Farmers Grp., Inc., 261 F. Supp. 2d 1213 (D. Or. 2003). “” Or.Rev.Stat. § 731.102(1). FGI argues it cannot “transact insurance” under the Oregon Insurance Code because it is not licensed as an “insurer.”
ZRZ Realty Co. v. Beneficial Fire & Cas. Ins., 194 P.3d 167 (Or. Ct. App. 2008). “We are not persuaded that the definition of insurance in ORS 731.102 somehow writes into the bumbershoot policies a requirement that the loss be unexpected.”
Harsh Inv. Corp. v. State Ex Rel. State Hous. Div., 744 P.2d 588 (Or. Ct. App. 1987). “” Mortgage insurance is “a contract where one undertakes to indemnify another * * * upon determinable risk contingencies,” ORS 731.102(1), “against financial loss” from the “[nonpayment of principal, interest and other sums agreed to be paid under the terms of an obligation…”
Interstate Fire & Cas. Co. v. Abernathy, 93 So. 3d 352 (Fla. 1st DCA 2012). “”); Or.Rev.Stat. § 731.102(1) (2011) ("Insurance” means "a contract whereby one undertakes to indemnify another or pay or allow a specified or ascertainable amount or benefit upon determinable risk contingencies.”
Aqua-Marine Constructors, Inc. v. Banks, 110 F.3d 663 (9th Cir. 1997). “Or.Rev.Stat. § 731.102(1). The performance bond in the present appeal in effect insured Plaintiff-Respondent Aqua-Marine against Michael Banks’ failure to make proper redelivery of the subject oceangoing barge at Everett, Washington.”
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