Insurance industry exempt from Unfair Trade Practices Act

Did you know  - The insurance industry is currently the only business in Oregon exempt from the Unlawful Trade Act. Proposed legislation would remove that exemption and allow the Attorney General and injured parties to sue for fraud. The exemption allows insurance companies to act with impunity and reduces their incentive to pay out claims as warranted. 35 other states do not exempt insurance companies from their state unlawful trade practices acts. The insurance lobby is fighting back hard.