Oregon Revised Statutes Public Health and Safety § 441.825

(a) Provide evidence of professional medical liability insurance in a reasonable amount as specified by the hospital governing board;

(b) Post a bond in lieu of evidence of professional medical liability insurance in a reasonable amount as specified by the hospital governing board; or

(c) Demonstrate annually financial responsibility for a reasonable amount as specified by the hospital governing board.

(a) “Medical staff” includes those individuals licensed by this state under ORS chapter 677 and granted privileges to practice in the hospital by the hospital governing board.

(b) “Professional medical liability insurance” means casualty insurance against legal liability for death, injury or disability of a human being arising from any medical, surgical or dental treatment, omission or operation.