ORS (Oregon Revised Statutes) 735.425 Filing by licensee after placement of surplus lines insurance. (1) states: ""Within 90 days after the placing of any surplus lines insurance in this state, each surplus lines licensee shall file with the Director of the Department of Consumer and Business Services ..."" (b) ""A statement on a standardized form furnished by the director, as to the diligent efforts by the producing agent to place the coverage with admitted insurers and the results thereof. The statement shall be signed by the producing (retail) agent ...""
Diligent Search Statement
The name of the Licensee and the following legend in BOLD type must appear on the ORIGINAL of every evidence of insurance negotiated, placed or procured under the provisions of the Oregon Surplus Line Law. This can be accomplished by the use of a stamp, sticker or typing thereon.
“This insurance was procured and developed under the Oregon surplus lines laws. It is NOT covered by the provisions of ORS 734.510 to 734.710 relating to the Oregon Insurance Guaranty Association. If the insurer issuing this insurance becomes insolvent, the Oregon Insurance Guaranty Association has no obligation to pay claims under this insurance.”