Connect with us

Uncategorized

The Oregon FAIR Plan Association board of directors approved an increase in coverage limits for personal and commercial dwellings

Published

3 years ago

on

Medford, OR – According to the statement, the Oregon FAIR Plan Association board also hired Stephen Steinbeck as executive director.

State officials also said that the Oregon FAIR Plan Association board increased the retention limits for the FAIR Plan, the state’s insurer of last resort, to $600,000 for personal dwellings and farms and $1 million for commercial dwellings at the urging of the Oregon Division of Financial Regulation (DFR).

The previous coverage limits were $400,000 and $700,000.

A retention limit is the maximum amount an insurance company will pay for claims.

The new limits expand the protection offered to Oregon consumers as housing values and construction costs continue to increase.

The new limits became effective May 1 and is the first increase in coverage limits since 2016.

Related Topics:

You may also like…

Oregon20 hours ago

Oregon Sen. Merkley says Trump admin’s new policy is “hugely expensive and damaging to Americans’ health” following controversial energy and drilling moves

Oregon – Sen. Jeff Merkley criticized the Trump administration over its energy and environmental policies, arguing that recent decisions could...
Oregon20 hours ago

Oregon Sen. Wyden reacts after billionaire Leon Black explains Epstein ties to Congress, says “he was not a tax lawyer or accountant”

Oregon – Sen. Ron Wyden is challenging billionaire Leon Black’s explanation of his relationship with Jeffrey Epstein, saying investigators found...
Oregon20 hours ago

Oregon Gov. Kotek claims “Trump administration tried to remove eligible voters from voter rolls” after federal court blocks voter verification database

Oregon – Oregon Governor Tina Kotek criticized the Trump administration after a federal court blocked the use of a voter...
Eugene20 hours ago

Fire crews respond to deadly structure fire in Eugene’s Churchill neighborhood

Eugene, OR – Eugene Springfield Fire responded to a structure fire late Thursday night in Eugene’s Churchill neighborhood that resulted...
Eugene20 hours ago

Eugene Springfield Fire technical rescue team conducts joint drill with Metro Wastewater

Eugene, OR – The Eugene Springfield Fire technical rescue team recently held a joint training drill with Metro Wastewater to...
Eugene4 days ago

Eugene Springfield Fire crews train for wildfire response at Golden Gardens Park

Eugene, OR – Eugene Springfield Fire crews spent time training for wildfire response at Golden Gardens Park in Eugene as...
Eugene4 days ago

Eugene Police locate hidden camera believed connected to burglary ring targeting Asian residents

Eugene, OR – The Eugene Police Department has located a hidden camera believed to have been used to monitor an...
Eugene4 days ago

Eugene Springfield Fire crews battle large residential fire involving two homes in West Eugene

Eugene, OR – Eugene Springfield Fire responded to a residential fire involving two homes in West Eugene Sunday evening after...
Eugene4 days ago

Eugene Police seek public’s help after shooting near Skinner Butte leaves two injured

Eugene, OR – The Eugene Police Department is asking the public for help as investigators continue looking into a shooting...
Eugene4 days ago

Eugene police train with regional agencies to strengthen crisis response skills

Eugene, OR – The Eugene Police Department recently joined crisis negotiation teams from Springfield Police and the Lane County Sheriff’s...
Oregon2 weeks ago

Oregon Sen. Wyden criticizes Trump spending priorities, says Americans are struggling while billions are spent on ballroom and war costs

Oregon – U.S. Sen. Ron Wyden is criticizing President Donald Trump’s spending priorities, arguing that Americans struggling with everyday expenses...

Trending