1F

Question 1

Oregon Insurance Guarantee Association (OIGA)

Answer 1

applicable to P&C insurers

Question 2

Oregon Life & Health Insurance Guarantee Association

Answer 2

applicable to life and health insurers

Question 3

OIGA Purposes

Answer 3

assist in detection and prevention of insolvency
provide for payment of covered claims under certain policies
avoid delay of payment and avoid financial loss to claimants or policyholders
assist in liquidation of insolvent insurers
provide for an assocation to asses cost

Question 4

Association Board of Directors

Answer 4

9 members selected by member insurers serving 4 year terms. unpaid

Question 5

Association obligation per claim

Answer 5

not to exceed $300,000 except for Workers Comp

Question 6

Assessment

Answer 6

insurers pay an assessment to the association based on net direct written premium in the state

Question 7

Member insurer can recoup amount of its assessment from

Answer 7

their individual policyholders

Question 8

The Association may refund (proportionately)

Answer 8

to member insurers amounts that exceed the Associations current claims and expenses plus the estimated liabilities for the coming year.

Question 9

Net Direct Premium

Answer 9

direct gross premium less return premiums and dividends paid or credited to policyholders