Special Oregon Schedule P
Select the "add" button under the Special OR
Schedule P tab and the newest form will appear. This form should be filled out
just like last year's. The form will calculate the shaded fields. You have
to enter numbers only in the white fields. If you don't enter a number, the system
will enter a zero.
If you are notified that the company must place additional
securities or that there is an adjustment on your account, go into your
iReg account. We will enter an audited version of your return.
are any errors or differences in ceding or assuming, the differences will be shown
on the audited version. Also, we calculate the market value of your
securities that are dedicated to workers’ compensation. This may differ from
your calculation. Any of these differences could cause a company to have to
place additional securities.
Schedule P-RA and Schedule
If you have assumed premiums from other workers' compensation insurers or have
ceded to other workers' compensation insurers, fill out these schedules. When you enter the NAIC
number, the name of the company will appear. When you have completed these
schedules, the totals will be entered on lines 15 and/or 16 on the Special
Oregon Schedule P. To change a number on line 15 or line 16, return to the
Schedule P-RA or Schedule P-RC. You cannot change it on the Special Oregon
Line 1: Direct premiums earned must include both workers'
compensation (Line 16 on the Oregon state page from the NAIC annual statement)
and excess workers' compensation (Line 17.3 on the Oregon state page from the
NAIC annual statement).
Lines 5-9: For compensation loss payments, use both workers'
compensation and excess workers' compensation.
Each insurer must list the officer who is responsible for
filing the Special Oregon Schedule P. By listing the officer and checking the
box at the bottom of the form, the company is certifying
that the filing is complete and accurate.
Line 15: You must complete the Schedule P-RA if you have
amounts to enter on this line. See the section above. Do not enter any number
on Line 15 of the Special Oregon Schedule P. This will be done by the computer
once you have completed the Schedule P-RA. This supplemental schedule lists the
names of companies ceding business to the insurer and the reserves on such assumed
business. Include the NAIC number for each company from whom you are assuming
Line 16: You must complete the Schedule P-RC if you have
amounts to enter on Line 16. Do not enter any number on Line 16 of the Special
Oregon Schedule P. This will be done by the computer once you have completed
the Schedule P-RC. This supplemental schedule lists the names of reinsurers and
the amounts claimed as reinsurance recoverable on approved reinsurance ceded.
(See ORS 731.508 for the definition of approved reinsurance.) If any amount
that your company claims on Special Schedule P-RC is not deposited by the
assuming carrier, your credit will be disallowed and your company will be
expected to make deposits equal to the amount of the denied credit. You must include
the NAIC number for each company listed on Schedule P-RC.
Line 25: Par value and market value amounts should be only
for securities presently held by the Oregon Insurance Division in a custodial
account for the class of workers' compensation. Do not include on Line 25 any
amounts that are currently on deposit for surety.
Line 26: Any additional amount shown on Line 26 must be
deposited on or before March 31. All securities placed on deposit must be rated
as Class 1 by the NAIC and must meet the requirements of ORS 731.640. All
securities to be placed must be approved by the Insurance Division before placing. If the deposit exceeds the amount required on Line 26, the year-end
total will be honored for a release of securities without replacement up to June
1. Updated schedules, including companies listed on Schedule P-RC, will be
required after that date.