Oregon Statutes 733.095 – Unearned premium reserve for home protection insurance
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A home protection insurer shall maintain a reserve for unearned premiums, unpaid losses and claims incurred whether reported or unreported to the insurer and the expenses of adjustment or settlement of such losses and claims, in an aggregate amount of not less than 40 percent of the aggregate of premiums charged on the insurer’s policies currently in force. [1981 c.247 § 11]
Terms Used In Oregon Statutes 733.095
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.