2015 Oregon Revised Statutes
Volume : 16 - Financial Institutions, Insurance
Chapter 742 - Insurance Policies Generally; Property and Casualty Policies
Section 742.280 - Home protection insurance; rules.

(1) A home protection policy shall specify:

(a) The home, home components and personal property relating to the home or its components that are covered by the policy.

(b) The exclusions to and limitations on the coverage.

(c) The period during which the policy will be in effect and the renewal terms, if any.

(d) The particulars regarding the performance of services, if any, by or on behalf of the insurer, including but not necessarily limited to the following:

(A) The kinds of services to be performed by or on behalf of the insurer, and the terms and conditions of the performance.

(B) The service fee or deductible amount, if any, to be charged for the services.

(C) All limitations regarding the performance of services, including any restrictions on the time period during which, or geographical area within which, services may be requested or will be performed.

(D) A statement that services will be performed upon the insured’s telephoned request to the insurer, without any requirement that a claim form or service application be filed before service is performed.

(E) A representation that services will be initiated by or under the direction of the insurer within 48 hours after request is made for services.

(e) All other provisions which are required by the Insurance Code or by rules issued by the Director of the Department of Consumer and Business Services.

(2) A home protection policy shall be noncancelable during the term for which it is originally written, except for nonpayment of the premium charge for the policy or for fraud or misrepresentation of facts material to the issuance of the policy. However, a policy providing coverage while the subject home is being offered for sale is cancelable in accordance with the policy provisions if no sale is made. A home protection policy is not renewable unless its terms provide otherwise.

(3) The director may adopt rules regarding home protection policies in order to protect the interests of persons affected by the policy contract. The director may not adopt rules specifying the home components or related personal property which must be covered by a home protection policy, except to the extent necessary to:

(a) Obtain fairness in the exclusions from coverage; or

(b) Avoid illusory coverage caused by the nature or extent of the exclusions from coverage.

[Formerly 743.690]