Department of Consumer and Business Services
Insurance Regulation - Chapter 836
Division 31
ACCOUNTING AND INVESTMENTS (ORS CHAPTER 733); REHABILITATION AND LIQUIDATION OF INSURERS (ORS CHAPTER 734)
836-031-0280
Specific Standards for Interest
(1) For contract reserves, the maximum interest rate is the maximum rate permitted by law in the valuation of whole life insurance issued on the same date as the health insurance contract.
(2) For claim reserves on policies that require contract reserves, the maximum interest rate is the maximum rate permitted by law in the valuation of whole life insurance issued on the same date as the claim incurral date.
(3) For claim reserves on policies not requiring contract reserves, the maximum interest rate is the maximum rate permitted by law in the valuation of single premium immediate annuities issued on the same date as the claim incurral date, reduced by one hundred basis points.
Statutory/Other Authority: ORS 731.244 & 733.080
Statutes/Other Implemented: ORS 733.080
History:
ID 7-1995, f. & cert. ef. 11-15-95