Blanket accident and sickness policies with property/casualty riders
April 13, 2012
Historically, the Oregon Insurance Division prohibited the combination of blanket accident and sickness policies issued with property and casualty riders. In reviewing ORS 742.041 (8), we now believe policies combining more than one class of insurance should be allowed under limited circumstances.
If your company has a certificate of authority for both health and property and casualty, you may file a blanket accident and sickness policy that includes the option to purchase property and casualty riders. An example would be a rider covering loss or theft of an automated teller machine card.
These filings continue to be subject to ORS 742.003, which requires prior approval. Additionally, the riders must comply with all property and casualty insurance laws and the benefit package issued to the policy holder must be the same for all of the certificate holders. We will not allow underwriting on any portion of the policy.
If you have questions regarding this message, please contact Rhonda I. Saunders-Ricks at 1-503-947-7270 or e-mail Rhonda.firstname.lastname@example.org