Skip to main content
Find a Lawyer

Oregon Revised Statutes Insurance § 744.650

Current as of January 01, 2023 | Updated by Findlaw Staff

(1) An insurance consultant shall furnish to each client and prospective client a written disclosure statement containing the following information:

(a) A description of the nature of the work to be performed by the insurance consultant.

(b) The applicable occupational and educational background of the insurance consultant.

(c) The area or areas of insurance in which the insurance consultant has particular expertise.

(d) The fee schedule and any other expenses that the insurance consultant charges, and whether fees may be negotiated.

(e) The name of any person, other than clients, that the insurance consultant represents.

(f) Whether the insurance consultant will receive any commission or obtain any other compensation for services provided the client in addition to fees and other expenses paid by the client.

(g) Any other information required by the Director of the Department of Consumer and Business Services by rule.

(2) An insurance consultant shall disclose information required under this subsection to each client in the course of providing insurance consultant services to the client and before the insurance consultant makes any final insurance recommendation to the client. The insurance consultant shall disclose at least the following information as applicable to the line of insurance for which the insurance consultant is providing services:

(a) Other business activities of the insurance consultant relating to financial planning.

(b) The method of investment analysis and comparison used.

(c) Assumptions contributing to insurance recommendations for the client.

(d) Any other information required by the director by rule.

(3) The director may establish additional disclosure requirements for licensees who are licensed both as insurance producers and insurance consultants.

(4) The director may design the form of disclosure statement to be used under subsection (1) of this section.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Oregon Revised Statutes Insurance § 744.650 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-56-insurance/or-rev-st-sect-744-650/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard