OR SB 1540
died on adjournmentRelating to property insurance; prescribing an effective date.
Oregon · 2026 Regular Session · upper
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Quick answers
Did OR SB 1540 pass?
No. OR SB 1540 died when the 2026 Regular Session adjourned without final action on it. Bills that die this way are sometimes reintroduced in a later session. Latest recorded action (2026-03-07): In committee upon adjournment.
What is OR SB 1540 about?
Requires an insurer that uses a catastrophe model or wildfire risk model<b> or scoring method</b> to provide the Director of the Department of Consumer and Business Services a description of each model<b> or scoring method</b>, along with related information, and an explanation of how the insurer uses the model<b> or scoring method</b> in underwriting decisions. Specifies [<i>elements</i>] that an insurer must [<i>include in</i>]<b> incorporate applicable community-level mitigation actions and property-specific mitigation actions into</b> each model and requires the insurer to give a premium discount or adjustment, or other incentive, to a policy holder that demonstrates having undertaken a property-specific mitigation action or that a community-level mitigation action occurred in proximity to the policy holder's property. Requires an insurer to post on the insurer's website, and provide to an applicant for insurance or a policy holder seeking a renewal, information about premium discounts or adjustments, or other incentives, that are available to applicants or policy holders that undertake a property-specific mitigation action or demonstrate that a community-level mitigation action occurred in proximity to the applicant's or policy holder's property. Permits an applicant or policy holder to appeal an insurer's classification of the applicant's or policy holder's property or to dispute the amount of a premium discount or adjustment or other incentive the insurer provides. Takes effect on the 91st day following adjournment sine die.
Description
Requires an insurer that uses a catastrophe model or wildfire risk model<b> or scoring method</b> to provide the Director of the Department of Consumer and Business Services a description of each model<b> or scoring method</b>, along with related information, and an explanation of how the insurer uses the model<b> or scoring method</b> in underwriting decisions. Specifies [<i>elements</i>] that an insurer must [<i>include in</i>]<b> incorporate applicable community-level mitigation actions and property-specific mitigation actions into</b> each model and requires the insurer to give a premium discount or adjustment, or other incentive, to a policy holder that demonstrates having undertaken a property-specific mitigation action or that a community-level mitigation action occurred in proximity to the policy holder's property. Requires an insurer to post on the insurer's website, and provide to an applicant for insurance or a policy holder seeking a renewal, information about premium discounts or adjustments, or other incentives, that are available to applicants or policy holders that undertake a property-specific mitigation action or demonstrate that a community-level mitigation action occurred in proximity to the applicant's or policy holder's property. Permits an applicant or policy holder to appeal an insurer's classification of the applicant's or policy holder's property or to dispute the amount of a premium discount or adjustment or other incentive the insurer provides. Takes effect on the 91st day following adjournment sine die.
- Introduced
- 2026-02-02
- Latest action
- 2026-03-07 — In committee upon adjournment.
- Bill type
- bill
- Last updated
- —
Sponsors
Not provided by source.
Committees
Not provided by source.
Action timeline
Newest first
2026-03-07
In committee upon adjournment.
2026-03-02
Public Hearing held.
2026-02-17
Referred to Rules by order of the President.
referral-committee
2026-02-17
Recommendation: Do pass with amendments and be referred to Rules. (Printed A-Eng.)
committee-passage-favorable
2026-02-12
Work Session held.
2026-02-10
Public Hearing held.
2026-02-02
Referred to Natural Resources and Wildfire.
referral-committee
2026-02-02
Introduction and first reading. Referred to President's desk.
introduction,reading-1,referral-committee
Versions
Documents
Votes
Heard and Reported Out with Amendments
2026-02-12 · pass · 5-0
Member-level votes (5)
- Fred Girod: yes
- Jeff Golden: yes
- Todd Nash: yes
- Floyd Prozanski: yes
- Kathleen Taylor: yes
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_bulk_csv, retrieved 2026-07-24T05:31:04.409453Z
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