HB 2130 Oregon House · 2025 Regular Session

Relating to the Oregon Insurance Guaranty Association.

Summary
Makes various changes to the responsibilities of the Oregon Insurance Guaranty Association with respect to providing coverage for the obligations of member insurers.
Bill status signed all 5 stages cleared
Introduction
Jan 2025
Committee Review
Apr 2025
House Passage
May 2025
Senate Passage
May 2025
Signed into Law
May 2025
Introduced Jan 13, 2025 Signed May 7, 2025
Maddy AI version diff · 1 comparison

What changed between versions

Introduced Enrolled · 4 edits · May 7, 2025
MODERATE
This bill updates the Oregon Insurance Guaranty Association laws to clarify when the association must cover claims when an insurer takes over another insurer's policies. It adds specific rules about when the association is responsible for claims even if the original insurer was released from obligations, and it reorganizes the definitions section to better categorize terms like 'covered claim' and 'insolvent insurer'.
Scope change
The bill expands the association's potential liability in specific liquidation scenarios where an insurer assumes sole responsibility for another insurer's policies and then becomes insolvent.
ELIGIBILITY

Added new provisions stating the association must cover claims when an insurer assumes sole responsibility for a member insurer's policy and then becomes insolvent, even if the original member insurer was released from obligations by court order or novation.

Clarified that the association is NOT responsible for claims when a non-member insurer issues a policy and a member insurer later assumes responsibility through novation or allocation.

DEFINITION

Restructured the definitions section of ORS 734.510 to renumber and reorganize terms like 'covered claim', 'cybersecurity insurance', 'dividend', and 'insolvent insurer' for clarity.

Added a new definition for 'insolvent insurer' with specific criteria about liquidation orders and timing relative to September 9, 1971.

Floor votes · Senate Apr 29, 2025 · House Mar 11, 2025

How they voted

280
Passed · 1 other
Total votes 29
Apr 29, 2025
D Democratic17
16 Yea 1
94% Yea
R Republican12
12 Yea
100% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
21
Key actions
7
Committee
4
May 7, 2025
Signed into law
Governor signed.
lower
May 1, 2025
Upper · Passed
President signed.
upper
May 1, 2025
Lower · Passed
Speaker signed.
lower
Apr 29, 2025
Upper · Passed
Third reading. Carried by Taylor. Passed.
upper
Apr 22, 2025
Upper · Passed
Recommendation: Do pass.
upper
Mar 13, 2025
Committee
Referred to Labor and Business.
upper
Mar 13, 2025
Introduced
First reading. Referred to President's desk.
upper
Mar 11, 2025
Lower · Passed
Third reading. Carried by Reschke. Passed.
lower
Mar 8, 2025
Lower · Passed
Recommendation: Do pass.
lower
Jan 17, 2025
Committee
Referred to Commerce and Consumer Protection.
lower
Jan 13, 2025
Introduced
First reading. Referred to Speaker's desk.
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.