Oregon SB1540 mandates insurers to submit wildfire risk models to state officials and inform policyholders about risk classifications and mitigation.

Oregon SB1540 requires insurers to submit catastrophe models and wildfire risk models to the Director of the Department of Consumer and Business Services. Insurers must also inform applicants and policyholders about risk classifications, available premium discounts, and the impact of mitigation actions on risk scores. Policyholders can appeal risk classifications or dispute premium discounts. The bill takes effect on January 1, 2027.

Oregon SB1540 mandates insurers to submit wildfire risk models to state officials and inform policyholders about risk classifications and mitigation.

Oregon SB1540 requires insurers to submit catastrophe models and wildfire risk models to the Director of the Department of Consumer and Business Services. Insurers must also inform applicants and policyholders about risk classifications, available premium discounts, and the impact of mitigation actions on risk scores. Policyholders can appeal risk classifications or dispute premium discounts. The bill takes effect on January 1, 2027.