731.628
Deposit required of workers’ compensation insurers. (1) In addition to any other
requirement therefor under the Insurance Code, each insurer other than the
State Accident Insurance Fund Corporation that issues workers’ compensation
insurance policies to employers under ORS chapter 656 shall deposit with the
Department of Consumer and Business Services an amount that is the greater of
the following amounts:
(a) $100,000.
(b) An amount
equal to the sum described in this paragraph less credits for approved
reinsurance that the insurer may take under subsection (2) of this section. The
sum under this paragraph is the sum of the following, computed as of December
31 next preceding in respect to workers’ compensation insurance policies
written subject to ORS chapter 656:
(A) The aggregate
of the present values at four percent interest of the determined and estimated
future loss and loss-expense payments upon claims incurred more than three
years next preceding the date of computation.
(B) The aggregate
of the amounts computed under this subparagraph for each of the three years
next preceding the date of computation. The amount for each year shall be 65
percent of the earned premiums for the year less all loss and loss-expense
payments made upon claims incurred in the corresponding year, except that the
amount for any year shall not be less than the present value at four percent
interest of the determined and estimated future loss and loss-expense payments
upon claims incurred in that year.
(2) Before an
insurer may take a credit for reinsurance under subsection (1)(b) of this
section, the reinsurer must deposit with the department an amount equal to the
credit to be taken.
(3) An insurer
may be allowed the credit referred to in subsection (1)(b) of this section only
when the reinsurer has deposited with the department an amount equal to the
credit. [1967 c.359 §118; 1971 c.231 §13; 1979 c.870 §4; 1981 c.854 §58; 1987
c.483 §5; 1989 c.700 §3; 1999 c.196 §4; 2007 c.241 §27]
Notes of Decisions
State Ex Rel. Neidig v. Superior Nat'l Ins., 173 P.3d 123 (Or. 2007).
· cites it 25× “ORS 731.628. Those deposits, known as “Schedule P” deposits, are based on the premiums earned by the insurer and the insurer’s loss experience in Oregon.”
State ex rel. Neidig v. Superior Nat'l Ins., 144 P.3d 1030 (Or. Ct. App. 2006).
· cites it 17× “ORS 731.628. Those deposits, known as “Schedule P” deposits, are held in trust by DCBS “for the payment of compensation benefits * * ORS 731.”
State v. Superior Nat'l Ins. Co., 144 P.3d 1030 (Or. Ct. App. 2006).
· cites it 17× “ORS 731.628. Those deposits, known as "Schedule P" deposits, are held in trust by DCBS "for the payment of compensation benefits * * *.”
— Or. Rev. Stat. § 731.628(1) — 2 cases
State ex rel. Neidig v. Superior Nat'l Ins., 144 P.3d 1030 (Or. Ct. App. 2006).
“ORS 731.628. Those deposits, known as “Schedule P” deposits, are held in trust by DCBS “for the payment of compensation benefits * * ORS 731.”
State v. Superior Nat'l Ins. Co., 144 P.3d 1030 (Or. Ct. App. 2006).
“ORS 731.628. Those deposits, known as "Schedule P" deposits, are held in trust by DCBS "for the payment of compensation benefits * * *.”
— Or. Rev. Stat. § 731.628(1)(b) — 1 case
State v. Superior Nat'l Ins. Co., 144 P.3d 1030 (Or. Ct. App. 2006).
“ORS 731.628. Those deposits, known as "Schedule P" deposits, are held in trust by DCBS "for the payment of compensation benefits * * *.”
— Or. Rev. Stat. § 731.628(2) — 2 cases
State ex rel. Neidig v. Superior Nat'l Ins., 144 P.3d 1030 (Or. Ct. App. 2006).
“ORS 731.628. Those deposits, known as “Schedule P” deposits, are held in trust by DCBS “for the payment of compensation benefits * * ORS 731.”
State v. Superior Nat'l Ins. Co., 144 P.3d 1030 (Or. Ct. App. 2006).
“ORS 731.628. Those deposits, known as "Schedule P" deposits, are held in trust by DCBS "for the payment of compensation benefits * * *.”
— Or. Rev. Stat. § 731.628(3) — 1 case
State Ex Rel. Neidig v. Superior Nat'l Ins., 173 P.3d 123 (Or. 2007).
“ORS 731.628. Those deposits, known as “Schedule P” deposits, are based on the premiums earned by the insurer and the insurer’s loss experience in Oregon.”
— Or. Rev. Stat. § 731.628(l)(b) — 2 cases
State Ex Rel. Neidig v. Superior Nat'l Ins., 173 P.3d 123 (Or. 2007).
“ORS 731.628. Those deposits, known as “Schedule P” deposits, are based on the premiums earned by the insurer and the insurer’s loss experience in Oregon.”
State ex rel. Neidig v. Superior Nat'l Ins., 144 P.3d 1030 (Or. Ct. App. 2006).
“ORS 731.628. Those deposits, known as “Schedule P” deposits, are held in trust by DCBS “for the payment of compensation benefits * * ORS 731.”
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