Uncategorized

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

Published

3 years ago

May 12, 2023

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:

Up Next

Gov. Kotek and agency leaders who manage wildfires and conflagrations provided a briefing as the 2023 wildfire season approaches, including steps Oregonians should take to prepare

Don't Miss

The City of Medford, Ashland and Grants Pass participated in an anti-vehicle barrier training at Lithia & Driveway Fields

Oregon7 days ago

Gov. Kotek says Oregon’s statewide cell phone ban is making an impact as early results show students becoming more focused and engaging more in the classroom

Eugene7 days ago

ESF crews respond to heavily involved house fire in Springfield, contain flames to property of origin

Oregon7 days ago

Oregon Sen. Jeff Merkley fires back at President Trump’s mail-in voting push as whistleblower warns new USPS system could reject entire batches of ballots

Eugene3 days ago

Parents arrested after leaving two 16-year-old teens on side of I-105 following verbal dispute involving girl’s boyfriend

Eugene7 days ago

Eugene Police Department arrests 42-year-old man after allegedly pointing gun at drivers, firing shots

Eugene7 days ago

54-year-old man arrested after climbing barbed-wire fence and ramming gate to free towed vehicle from secured lot

Eugene7 days ago

Fire crews cut into trash truck to extinguish fire at Oregon elementary school

Eugene3 days ago

31-year-old woman arrested for DUII after falling asleep behind wheel, police find fentanyl and methamphetamine in vehicle

Eugene Daily Post

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

Uncategorized

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

You may also like…

Eugene Springfield Fire responds to South Eugene house fire after smoke reported from roof

31-year-old woman arrested for DUII after falling asleep behind wheel, police find fentanyl and methamphetamine in vehicle

Man arrested after causing disturbance and trying to bypass TSA checkpoint at Eugene Airport

Parents arrested after leaving two 16-year-old teens on side of I-105 following verbal dispute involving girl’s boyfriend

Oregon Sen. Jeff Merkley fires back at President Trump’s mail-in voting push as whistleblower warns new USPS system could reject entire batches of ballots

Gov. Kotek says Oregon’s statewide cell phone ban is making an impact as early results show students becoming more focused and engaging more in the classroom

ESF crews respond to heavily involved house fire in Springfield, contain flames to property of origin

Eugene Police Department arrests 42-year-old man after allegedly pointing gun at drivers, firing shots

54-year-old man arrested after climbing barbed-wire fence and ramming gate to free towed vehicle from secured lot

Fire crews cut into trash truck to extinguish fire at Oregon elementary school

Gov. Kotek says federal court ruling blocking Trump administration’s attempts to interfere with how USPS can deliver ballots is “another important win for Oregon voters”

Trending