Connect with us

Uncategorized

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

Published

2 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…

Eugene2 days ago

Motorcyclist dies in crash during memorial ride on River Road in Eugene

Eugene, OR – A motorcyclist participating in a memorial ride was killed in a crash with a vehicle on the morning...
Eugene2 days ago

Eugene Springfield Fire celebrates retirement of firefighter after 22 years of service

Eugene, OR – Eugene Springfield Fire honored the retirement of Firefighter Gene Revier after an impressive 22 years of dedicated...
Eugene2 days ago

Eugene mayor Knudson welcomes youth delegation from Kakegawa, Japan, marking the return of cultural exchange program

Eugene, OR – Mayor Kaarin Knudson greeted a youth delegation from Eugene’s Sister City of Kakegawa, Japan. The delegation’s four-day...
Eugene2 days ago

65-year-old woman arrested on charges of murder in the second degree after 63-year-old man dies from stab wounds

Eugene, OR – On March 29, at 6:59 p.m., Eugene Police responded to a stabbing incident at a residence in the...
Crime & Safety4 days ago

Child was obligated to put on an eIectric coIIar, which was used repeatedly, and keep it on at all times while at home so her parent could use it as discipIine whenever the child’s behavior displeased her; charges

New Jersey – ​In New Jersey, a disturbing case of child abuse has come to light, resulting in the arrest...
Oregon5 days ago

Oregon Senate Committee discusses Senate Bill 829 to provide financial relief for affordable housing and shelter providers facing insurance rate hikes

Oregon – Members of the Senate Committee on Housing and Development convened to hear testimony for Senate Bill 829, introduced...
Oregon5 days ago

ODFW deploys nets in Wallowa Lake to monitor fish population and assess lake trout impact

Oregon – The Oregon Department of Fish and Wildlife has begun deploying large nets in Wallowa Lake as part of...
Eugene7 days ago

Eugene city officials to welcome youth delegation from Japan’s Kakegawa for four-day visit

Eugene, OR – A youth delegation from Kakegawa, Japan, Eugene’s Sister City, will arrive on Thursday, March 27, for a...
Eugene7 days ago

Friends of Eugene Public Library hosting annual benefit book sale in April

Eugene, OR – The Friends of Eugene Public Library will host their annual two-day book sale on Saturday, April 12,...
Eugene7 days ago

Eugene police detain four after shots fired in Barger area, investigation ongoing

Eugene, OR – Eugene Police officers responded to a reported dispute in the 2100 block of Amirante Street at 12:25 a.m....
Eugene7 days ago

Emergency crews rescue trapped driver after crash at Park and Northwest Expressway

Eugene, OR – Eugene Springfield Fire responded to a motor vehicle accident at Park and Northwest Expressway just after 2:30...

Trending