Oregon Revised Statutes Insurance § 733.325

(1) “Accident and health insurance” means a contract that incorporates morbidity risk and provides protection against economic loss that results from accident, sickness or a medical condition.

(2) “Appointed actuary” means a qualified actuary that an insurer appoints in accordance with the valuation manual to prepare the actuarial opinion required under ORS 733.331.

(3) “Deposit-type contract” means a contract that does not incorporate mortality or morbidity risks.

(4) “Insurer” means an entity that has:

(5) “Life insurance” means a contract that incorporates mortality risk, including an annuity contract and a pure endowment contract.

(6) “Operative date of the valuation manual” means the date on which the Director of the Department of Consumer and Business Services adopts the valuation manual by rule in accordance with section 16, chapter 547, Oregon Laws 2015.

(7) “Principle-based valuation” means a reserve valuation that uses one or more methods or one or more assumptions that the insurer determines and that must comply with section 17, chapter 547, Oregon Laws 2015, as specified in the valuation manual.

(8) “Qualified actuary” means an individual who:

(9) “Reserves” means reserve liabilities.

(10) “Valuation manual” means the manual of valuation instructions that the director adopts in accordance with section 16, chapter 547, Oregon Laws 2015.