2011 Oregon Revised Statutes
ORS Volume 15, Chapters 670 - 704
ORS Chapter 682
682.105 Proof of financial responsibility required to obtain license; amounts; form of proof.

(1) In order to secure and retain a license under this chapter, the owner of an ambulance or ambulance service, other than a governmental unit, shall file and maintain with the Oregon Health Authority proof of ability to respond in damages for liability arising from the ownership, operation, use or maintenance of the ambulance, or arising from the delivery of prehospital care, in the amount of:

(a) $100,000 because of bodily injury to or death of one person in any one accident;

(b) Subject to that limit for one person, $300,000 because of bodily injury to or death of two or more persons in any one accident;

(c) $20,000 because of injury to or destruction of the property of others in any one accident; and

(d) $500,000 because of injury arising from the negligent provision of prehospital care to any individual.

(2) Proof of financial responsibility under subsection (1) of this section may be given by filing with the authority, for the benefit of the owner:

(a) A certificate of insurance issued by an insurance carrier licensed to transact insurance in this state showing that the owner has procured and that there is in effect a motor vehicle liability policy for the limits of financial responsibility mentioned in subsection (1)(a) to (c) of this section designating by explicit description all motor vehicles with respect to which coverage is granted thereby and insuring the named insured and all other persons using any such motor vehicle with insured s consent against loss from the liabilities imposed by law for damages arising out of the ownership, operation, use or maintenance of any such motor vehicle, and that there is in effect a professional liability policy for the limit of financial responsibility described in subsection (1)(d) of this section insuring the named insured and all other persons engaged in the provision of prehospital care under the auspices of the licensed ambulance service against loss from the liabilities imposed by law for damages arising out of the provision of prehospital care;

(b) A bond conditioned for the paying in behalf of the principal, the limits of financial responsibility mentioned in subsection (1) of this section; or

(c) A certificate of the State Treasurer that such owner has deposited with the State Treasurer the sum of $320,000 in cash, in the form of an irrevocable letter of credit issued by an insured institution as defined in ORS 706.008 or in securities such as may legally be purchased by fiduciaries or for trust funds of a market value of $320,000. [Formerly 823.100; 1997 c.631 521; 2009 c.595 1078]