Notwithstanding OAR 836-043-0089, an insurer that wishes to insure an employer as voluntary business may do so at any time. If a servicing carrier wishes to insure voluntarily one of its plan accounts, the servicing carrier must provide written notice to both the Plan Administrator and the agent of the employer of its intent at least 30 days in advance of the effective date of the servicing carrier’s voluntary coverage. If the insurer is not the servicing carrier, the servicing carrier shall cancel its policy pro rata and the assignment shall automatically terminate as of the later of the effective date of the voluntary insurer’s policy or the date the voluntary insurer provides written notice to the servicing carrier of its coverage.

Statutory/Other Authority

ORS 656.427, 656.730 & 731.244

Statutes/Other Implemented

ORS 656.427, 656.730 & 737.265

History

ID 10-1996, f. 6-27-96, cert. ef. 7-1-96