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Oregon Revised Statutes

Or. Rev. Stat. § 734.700 (2026)

Defense of claims on default of insolvent insurer

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      734.700 Defense of claims on default of insolvent insurer. (1) Any pending proceeding in which an insolvent insurer is a party or is obligated to defend a party in any court of this state shall be stayed for 60 days after the date a receiver is appointed by the court to permit the Oregon Insurance Guaranty Association time to prepare a defense in such proceedings.

      (2) If any covered claim arises from a judgment based on the default of the insolvent insurer or its failure to defend an insured, the association may apply to have such judgment set aside, and, upon such application shall be permitted to defend against the claim on the merits. [1971 c.616 §22]

Notes of Decisions
Cited in 2 cases, 1991–1993 · leading case: Carrier v. Hicks, 851 P.2d 581 (Or. 1993).
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Carrier v. Hicks, 851 P.2d 581 (Or. 1993). · cites it 2× “ORS 734.700; ORS 734.510(4)(b). Nowhere in the record do we find what was the limit of the insurance provided by the insolvent insurance company.”
Oregon Ins. Guar. Ass'n v. Action Chrysler-Plymouth-Dodge, Inc., 820 P.2d 846 (Or. Ct. App. 1991). “630(1) (subrogation rights); ORS 734.700 (defense of actions). Under the legislative scheme, an insured cannot recover more from OIGA than it could have from the insurer had there been no insolvency.”
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