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…

Eugene3 days ago

Person suffers multiple fractures after falling nearly 50 feet from cliff near Franklin Boulevard

Eugene, OR – Emergency crews rescued a person who fell nearly 50 feet from a cliff near Franklin Boulevard in...
Eugene3 days ago

ESF crews contain hopper fire at Swanson Mill in Springfield

Eugene, OR – Fire crews responded to a hopper fire at Swanson Mill in Springfield, where the blaze was contained...
Eugene3 days ago

Driver arrested for DUII after crashing pickup truck into Old Spaghetti Factory sign in Eugene

Eugene, OR – A driver was arrested on multiple charges Friday after allegedly driving recklessly, nearly striking pedestrians and crashing...
Eugene3 days ago

17-year-old charged with first-degree assault after shooting left woman hospitalized in Eugene

Eugene, OR – A 17-year-old male was arrested Monday evening in connection with a shooting that left a 19-year-old woman...
Eugene7 days ago

Oregon Sens. Wyden and Merkley join California Sen. Padilla in demanding answers from Trump administration over controversial plans to turn public lands into data center sites

Oregon – Oregon Sens. Ron Wyden and Jeff Merkley are demanding that Interior Secretary Doug Burgum halt the Trump administration’s...
Oregon1 week ago

Oregon State Police arrest driver for DUII after clocking vehicle traveling over 110 mph on I-84

Oregon – Oregon State Police arrested a driver for driving under the influence of intoxicants (DUII) after a concerned motorist...
Eugene1 week ago

Woman charged with DUII and reckless driving after allegedly driving wrong way and nearly causing multiple crashes in Eugene

Eugene, OR – A 33-year-old Washington woman was arrested in Eugene after allegedly driving the wrong way on a one-way...
Eugene1 week ago

35-year-old man taken into custody after fatal shooting in Eugene, charged with second-degree murder

Eugene, OR – Eugene police have arrested a 35-year-old man in connection with a shooting reported near West 10th Alley...
Eugene1 week ago

Eugene police arrest 30-year-old man after neighbor dispute over $20 ends in stabbing

Eugene, OR – Eugene police arrested a 30-year-old man Tuesday night after a dispute over $20 allegedly led to a...
Eugene2 weeks ago

Oregon Sen. Merkley warns of “major danger for our Republic” as he accuses President Trump of seeking to block states from certifying election results after DOJ targets Alaska Senate race

Oregon – Sen. Jeff Merkley is warning that President Donald Trump could seek to prevent states from certifying election results...
Eugene2 weeks ago

Oregon Republican gubernatorial candidate Drazan takes aim at Gov. Kotek over $96,000 ODOT hiring contract, tells her to leave the hiring to her in January

Oregon – Oregon Republican gubernatorial candidate Christine Drazan is criticizing Gov. Tina Kotek over the state’s decision to spend $96,000...

Trending