Senate Bill 831

Digest: Makes changes to this state's insurance laws to update rules that make sure that insurers have enough money to keep going. (Flesch Readability Score: 65.7). Requires the person that has ultimate control over an insurer to file a group capital calculation with the chief insurance regulatory official of the state that the Director of the Department of Consumer and Business Services determines is the lead state for the insurance holding company system of which the insurer is a part. Unless exempted from the requirement to file the group capital calculation, the person must file a group capital calculation made in accordance with standards that the National Association of Insurance Commissioners adopts. Requires insurers that meet one or more scope criteria during a given data year to conduct and report the results of a liquidity stress test in accordance with a framework adopted by the National Association of Insurance Commissioners. Specifies scope criteria for determining which insurers are subject to the requirement. Requires a deposit or bond from an insurer that the director determines is in a hazardous financial condition or a condition that would be grounds for supervision, conservation or delinquency proceedings. Gives the director discretion to determine the amount of the deposit or bond and the contract or contracts to which the deposit or bond applies. Subjects affiliates to the jurisdiction and authority of a supervisor, conservator, rehabilitator or liquidator appointed for an insurer for the purpose of interpreting, enforcing and overseeing the affiliate's obligations under a contract or agreement to perform services for the insurer. <b>Requires the chief insurance regulatory official to maintain the confidentiality of certain information that the chief insurance regulatory official receives from an insurance holding company system. Prohibits an insurer, broker or other person engaged in any manner in the insurance business from making, publishing, disseminating or circulating a statement or representation with respect to the information.</b> Takes effect on the 91st day following adjournment sine die.

• Senate, third reading26–1

  Passed · Apr 10 · 3 present

• House of Representatives, third reading51–0

  Passed · May 15 · 8 present

• Senate committee amendmentAdopted

  Adopted Apr 7

l9n doesn't hold this bill's text yet.

In the Senate Jan 13 – Apr 10

1. Jan 13Introduced
2. Jan 17Sent to Labor and Business
3. Feb 20Heard in Labor and Business
4. Mar 26Heard in Labor and Business
5. Apr 1Heard in Labor and Business
6. Apr 7Labor and Business recommended it as amended
7. Apr 8Read a second time
8. Apr 10Passed the Senate, 26 to 1

In the House of Representatives Apr 10 – May 15

1. Apr 10Arrived in the House of Representatives
2. Apr 15Sent to Commerce and Consumer Protection
3. May 1Heard in Commerce and Consumer Protection
4. May 6Heard in Commerce and Consumer Protection
5. May 12Commerce and Consumer Protection recommended it
6. May 13Read a second time
7. May 15Passed the House of Representatives, 51 to 0

To the Governor May 19 – Jun 6

1. May 19Signed in the Senate
2. May 20Signed in the House of Representatives
3. May 27Signed by the Governor
4. Jun 6Became chapter 174 of Oregon Laws 2025