Or. Admin. R. 836-080-0511

Current through Register Vol. 63, No. 8, August 1, 2024

Section 836-080-0511 - Application of Notice Requirements

(1) A licensee is not subject to the requirements stated in ORS 746.620 if the licensee is an employee or other representative of another licensee who is the principal in the relationship and the principal otherwise complies with the requirements of 746.620, 746.630 and 746.665, and:

(a) If the licensee is an insurance producer, the licensee acts in accordance with the requirements of ORS 746.620(8); and

(b) If the licensee is other than an insurance producer, the licensee does not disclose any personal information to any person other than to the principal or its affiliate as provided in ORS 746.665(1)(a) to (j) or (m) to (q), or under 746.665(1)(L) in connection with an audit.

(2) A surplus lines licensee or surplus lines insurer is deemed to be in compliance with ORS 746.620 if:

(a) The licensee or insurer does not disclose personal information of a consumer or a customer to nonaffiliated third parties for any purpose, except as permitted by ORS 746.665(1)(a) to (j) and (L) to (q); and

(b) The licensee or insurer delivers a notice to the consumer at the time a customer relationship is established on which the following is printed in 16-point type:

PRIVACY NOTICE

NEITHER THE U.S. BROKERS THAT HANDLED THIS INSURANCE

NOR THE INSURERS THAT HAVE UNDERWRITTEN THIS INSURANCE

WILL DISCLOSE NONPUBLIC PERSONAL INFORMATION

CONCERNING THE BUYER TO NONAFFILIATES OF THE

BROKERS OR INSURERS EXCEPT AS PERMITTED BY LAW.

Or. Admin. R. 836-080-0511

ID 8-2002, f. & cert. ef. 2-15-02; ID 8-2005, f. 5-18-05, cert. ef. 8-1-05

Stat. Auth.: ORS 731.244, 746.600 & 746.620

Stats. Implemented: ORS 746.600, 746.620, 746.630 & 746.665