734.570 Duties
and functions of association.
The Oregon Insurance Guaranty Association:
(1) Shall pay
covered claims that exist at the time, or that arise within 30 days after, a
member insurer has been determined to be insolvent, subject to the following
limits and exceptions:
(a) The
association’s obligation to pay a covered claim that arises from the insolvency
of a member insurer between September 9, 1971, and December 31, 2024, is only
the amount of the covered claim that is less than $300,000.
(b) The
association’s obligation to pay a covered claim that arises from the insolvency
of a member insurer on or after January 1, 2025, may not exceed $600,000.
(c)
Notwithstanding the limitations set forth in paragraphs (a) and (b) of this
subsection, the association shall pay the full amount of any covered claim that
arises out of a workers’ compensation policy, less any amount the Workers’
Benefit Fund pays on the covered claim under ORS chapter 656.
(d) The
association is not obligated to pay:
(A) Any amount
that exceeds the obligation of the insolvent member insurer under the policy
from which the claim arises;
(B) A claim that
arises after the policy expires or after the insured cancels or replaces the
policy; or
(C) More than
$600,000 in the aggregate for any claim, including any first-party or
third-party claim, that arises out of or is related to a single incident or
occurrence that is covered under a cybersecurity insurance policy or
endorsement, regardless of the number of claims made or the number of
claimants.
(2) Is the
insurer to the extent of the association’s obligations on covered claims, with
all of the rights, duties and obligations the insolvent member insurer would
have had if the insolvent member insurer had not become insolvent.
(3) Shall assess
member insurers the amounts necessary to pay the expenses the association
incurs in meeting the association’s obligations and exercising the association’s
duties and powers under ORS 734.510 to 734.710. The assessments of each member
insurer must be in the proportion that the net direct written premiums of the
member insurer for the preceding calendar year bears to the net direct written
premiums of all member insurers for the preceding calendar year, but may not
exceed in any one year two percent of the member insurer’s net direct written
premiums for the preceding calendar year. Each member insurer must be notified
of an assessment not later than the 30th day before the day the assessment is
due. If the funds of the association do not provide in any one year an amount
sufficient to pay the obligations and expenses of the association, the funds
available must be prorated among the obligations and expenses, and the unpaid
portions must be paid as soon thereafter as funds become available. If an
assessment would cause a member insurer’s financial statement to reflect
amounts of capital or surplus less than the minimum amounts required for a
certificate of authority by any jurisdiction in which the member insurer is
authorized to transact insurance, the association may exempt from or defer
payment of the assessment, in whole or in part, by the member insurer. However,
if the member insurer is a controlled insurer, the association, in making
determinations regarding the exemption or deferral of assessments, shall treat
all dividends paid during the three calendar years immediately preceding the
year in which the assessment is made as assets of the insurer just as if such
dividends had not been paid. Each member insurer designated as a servicing
facility may set off against any assessment authorized payments made on covered
claims and expenses the member insurer incurred in paying covered claims in the
member insurer’s capacity as a servicing facility.
(4) Shall
investigate claims brought against the association and adjust, compromise,
defend, settle and pay covered claims to the extent of the association’s
obligation.
(5) Shall review
settlements, releases and judgments to which the insolvent member insurer or
the insolvent member insurer’s insureds were parties to determine the extent to
which such settlements, releases and judgments may be properly contested. The
association’s obligation to defend an insolvent member insurer’s insured ceases
when the association tenders or pays an amount that is equal to the lesser of
the statutory limit that applies to the covered claim or the policy limit that
applies to the covered claim.
(6) Shall
reimburse servicing facilities and employees of the association for obligations
and expenses the servicing facilities and employees incurred and paid in the
handling of claims on behalf of the association.
(7) Shall pay all
other expenses the association incurs in carrying out ORS 734.510 to 734.710. [1971
c.616 §8; 1977 c.793 §9; 2001 c.974 §9; 2025 c.20 §5]
Notes of Decisions
Cited in
11
cases, 1978–2006 · leading case:
Carrier v. Hicks, 851 P.2d 581 (Or. 1993).
Carrier v. Hicks, 851 P.2d 581 (Or. 1993).
· cites it 14× “The "functions" of OIGA are set forth in ORS 734.570 and include these: "to the extent of the association's obligation," to perform "the rights, duties and obligations of the insolvent insurer as if the insurer had not become insolvent," ORS 734.”
Bird v. Norpac Foods, Inc., 934 P.2d 382 (Or. 1997).
· cites it 4× “510 et seq, is as follows: When OIGA has assumed all of the rights, duties, and obligations of an insolvent insurer pursuant to ORS 734.570, and a plaintiff obtains a personal injury judgment against a defendant insured by that insolvent insurer, must the judgment be deemed…”
McGraw v. Gwinner, 578 P.2d 1250 (Or. 1978).
· cites it 2× “ORS 734.570. 1 OIGA refused to defend plaintiff in the action brought by Gwinner.”
Taylor v. Oregon Ins. Guar. Ass'n, 783 P.2d 49 (Or. Ct. App. 1989).
· cites it 3× “ORS 734.570(1). A “covered claim” is defined as “an unpaid claim * * * that arises out of and is within the coverage and limits of an insurance policy to which ORS 734.”
Corvallis Aero Serv., Inc. v. Villalobos, 724 P.2d 880 (Or. Ct. App. 1986).
“As already noted, the claim involved here is not SAIF’s claim against Corvallis Aero Service, being handled by OIGA pursuant to ORS 734.570. Rather, the claim is by the Villalobos estate; SAIF merely has a statutory lien against a portion of the proceeds.”
Oregon Ins. Guar. Ass'n v. Action Chrysler-Plymouth-Dodge, Inc., 820 P.2d 846 (Or. Ct. App. 1991).
· cites it 4× “ORS 734.570(1). ORS 734.510(4) provides, in relevant part: “(a) ‘Covered claim’ means an unpaid claim, including a claim for unearned premiums, that arises out of and is within the coverage and limits of an insurance policy to which ORS 734.”
Window Coverings, Inc. v. Campbell, 755 P.2d 719 (Or. Ct. App. 1988).
· cites it 3× “2 See ORS 734.570(1). Although the insurers were candid enough to become named plaintiffs in only two of the five cases before us, it is not disputed that the damages that all of the plaintiffs seek are due insurers as subrogation.”
Oregon Ins. Guar. Ass'n v. Hall, 113 P.3d 452 (Or. Ct. App. 2005).
· cites it 8× “OIGA contends that a “covered claim” must arise out of a policy that is *132 in force at the time of the occurrence that gives rise to the unpaid claim, which necessarily relates to the date of an injury.”
Bird v. Norpac Foods, Inc., 888 P.2d 118 (Or. Ct. App. 1995).
· cites it 3× “” ORS 734.570. (Emphasis supplied.) A “covered claim” is “an unpaid claim * * * that arises out of and is within the coverage and limits of an insurance policy to which ORS 734.”
Roman Catholic Archbishop of the Archdioces v. Oregon Ins. Guar. Ass'n, 945 P.2d 645 (Or. Ct. App. 1997).
· cites it 2× “Plaintiff brought this declaratory judgment action against the Oregon Insurance Guaranty Association (OIGA) to determine OIGA’s obligation to pay a claim against an insolvent insurer pursuant to ORS 734.570(1). Plaintiff appeals from the judgment in favor of OIGA, challenging…”
— Or. Rev. Stat. § 734.570(1) — 9 cases
Carrier v. Hicks, 851 P.2d 581 (Or. 1993).
“The "functions" of OIGA are set forth in ORS 734.570 and include these: "to the extent of the association's obligation," to perform "the rights, duties and obligations of the insolvent insurer as if the insurer had not become insolvent," ORS 734.”
Bird v. Norpac Foods, Inc., 934 P.2d 382 (Or. 1997).
“510 et seq, is as follows: When OIGA has assumed all of the rights, duties, and obligations of an insolvent insurer pursuant to ORS 734.570, and a plaintiff obtains a personal injury judgment against a defendant insured by that insolvent insurer, must the judgment be deemed…”
Taylor v. Oregon Ins. Guar. Ass'n, 783 P.2d 49 (Or. Ct. App. 1989).
“ORS 734.570(1). A “covered claim” is defined as “an unpaid claim * * * that arises out of and is within the coverage and limits of an insurance policy to which ORS 734.”
Oregon Ins. Guar. Ass'n v. Action Chrysler-Plymouth-Dodge, Inc., 820 P.2d 846 (Or. Ct. App. 1991).
“ORS 734.570(1). ORS 734.510(4) provides, in relevant part: “(a) ‘Covered claim’ means an unpaid claim, including a claim for unearned premiums, that arises out of and is within the coverage and limits of an insurance policy to which ORS 734.”
Window Coverings, Inc. v. Campbell, 755 P.2d 719 (Or. Ct. App. 1988).
“2 See ORS 734.570(1). Although the insurers were candid enough to become named plaintiffs in only two of the five cases before us, it is not disputed that the damages that all of the plaintiffs seek are due insurers as subrogation.”
— Or. Rev. Stat. § 734.570(2) — 6 cases
Carrier v. Hicks, 851 P.2d 581 (Or. 1993).
“The "functions" of OIGA are set forth in ORS 734.570 and include these: "to the extent of the association's obligation," to perform "the rights, duties and obligations of the insolvent insurer as if the insurer had not become insolvent," ORS 734.”
McGraw v. Gwinner, 578 P.2d 1250 (Or. 1978).
“ORS 734.570. 1 OIGA refused to defend plaintiff in the action brought by Gwinner.”
Taylor v. Oregon Ins. Guar. Ass'n, 783 P.2d 49 (Or. Ct. App. 1989).
“ORS 734.570(1). A “covered claim” is defined as “an unpaid claim * * * that arises out of and is within the coverage and limits of an insurance policy to which ORS 734.”
Oregon Ins. Guar. Ass'n v. Action Chrysler-Plymouth-Dodge, Inc., 820 P.2d 846 (Or. Ct. App. 1991).
“ORS 734.570(1). ORS 734.510(4) provides, in relevant part: “(a) ‘Covered claim’ means an unpaid claim, including a claim for unearned premiums, that arises out of and is within the coverage and limits of an insurance policy to which ORS 734.”
Window Coverings, Inc. v. Campbell, 755 P.2d 719 (Or. Ct. App. 1988).
“2 See ORS 734.570(1). Although the insurers were candid enough to become named plaintiffs in only two of the five cases before us, it is not disputed that the damages that all of the plaintiffs seek are due insurers as subrogation.”
— Or. Rev. Stat. § 734.570(3) — 2 cases
Carrier v. Hicks, 851 P.2d 581 (Or. 1993).
“The "functions" of OIGA are set forth in ORS 734.570 and include these: "to the extent of the association's obligation," to perform "the rights, duties and obligations of the insolvent insurer as if the insurer had not become insolvent," ORS 734.”
— Or. Rev. Stat. § 734.570(4) — 1 case
Carrier v. Hicks, 851 P.2d 581 (Or. 1993).
“The "functions" of OIGA are set forth in ORS 734.570 and include these: "to the extent of the association's obligation," to perform "the rights, duties and obligations of the insolvent insurer as if the insurer had not become insolvent," ORS 734.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.