- (1) For the purpose of complying with Oregon Laws 2015, chapter 547, insurers shall use the Valuation Manual established by the National Association of Insurance Commissioners when establishing reserves using a principle-based valuation. The operative date of the Valuation Manual, as specified under Oregon Laws 2015, chapter 547, section 16(2) is January 1, 2017. The Valuation Manual referred to in this rule is available for inspection at the Department of Consumer and Business Services.
- (2) The director shall specify the effective date of any amendments to the Valuation Manual by decision posted under insurer financial regulation on the department’s Division of Financial Regulation website at dfr.oregon.gov.
Statutory/Other Authority
ORS 731.244, Or Laws 2015, ch 547, sec 16 & ORS 733.210
Statutes/Other Implemented
Or Laws 2015, ch 547
History
ID 8-2021, amend filed 12/13/2021, effective 01/01/2022
ID 11-2019, amend filed 12/19/2019, effective 01/01/2020
ID 1-2019, amend filed 01/04/2019, effective 01/04/2019
ID 37-2018, amend filed 12/19/2018, effective 01/01/2019
ID 13-2017, amend filed 12/14/2017, effective 12/14/2017
ID 11-2016, f. & cert. ef. 12-21-16