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…

Oregon6 days 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...
Eugene6 days ago

Mobile home destroyed in fire at Eugene Mobile Village, occupant escapes safely in Springfield area blaze

Eugene, OR – A mobile home was destroyed in a fire at Eugene Mobile Village on June 15, according to...
Eugene6 days ago

Eugene Police to increase Hwy 99 enforcement targeting speeding, distracted driving, and pedestrian safety violations on June 25

Eugene, OR – Eugene Police Department officers will conduct a coordinated enforcement operation along Highway 99 on June 25, focusing...
Eugene6 days ago

19-year-old man arrested for DUII, reckless driving, and unlawful firearm possession after found passed out in running vehicle in Eugene

Eugene, OR – A 19-year-old man was arrested in Eugene early June 15 after police say he was found passed...
Oregon1 week ago

Gov. Kotek reacts after President Trump says, “I love the inflation,” calls him a derogatory name, and says “Oregonians certainly don’t”

Oregon – Oregon Gov. Tina Kotek responded sharply after President Donald Trump drew attention for comments about inflation during remarks...
Oregon1 week ago

Oregon Senator Merkley criticizes Republican ICE funding bill, says it does “absolutely nothing for you and your family”

Oregon – Sen. Jeff Merkley sharply criticized a Republican-backed immigration enforcement funding package following its approval in Congress, arguing that...
Oregon1 week ago

Oregon Gov. Kotek responds to concerns over voter rolls, says President Trump is threatening states that won’t hand them over

Oregon – Oregon Gov. Tina Kotek defended the state’s long-standing vote-by-mail system after a New York Times report highlighted growing...
Eugene1 week ago

Fire crews complete lengthy extrication after vehicle crashes down hillside in South Eugene

Eugene, OR – Eugene Springfield Fire crews responded to an unusual single-vehicle crash in South Eugene on Thursday afternoon after...
Eugene1 week ago

Eugene Springfield Fire responds to brush fire near downtown Springfield, building saved from major damage

Eugene, OR – Eugene Springfield Fire crews responded to a brush fire near downtown Springfield on Friday evening after a...
Eugene1 week ago

Eugene Police seek help identifying suspect and potential victim in library menacing incident

Eugene, OR – The Eugene Police Department is asking for the public’s help to identify a suspect and a potential...
Eugene1 week ago

Eugene Police issue traffic advisory ahead of UO Commencement expected to draw 30,000 people

Eugene, OR – The Eugene Police Department has issued a traffic advisory ahead of the University of Oregon Commencement on...

Trending