Shields takes aim at insurance industry, threatens initiative

Portland Business Journal:

State Senator Chip Shields (D-Portland) plans to introduce three measures next week to tighten Oregon insurance laws, including legislation to refer to the voters the question of whether the state should have the right to sue insurance companies for fraud.

The insurance industry receives oversight from the state Insurance Division but is exempt from Oregon’s unfair trade practices act. Shields and other critics of this exemption argue that it softens Oregon insurance laws and tips the balance…

Read the full article here. Discuss below.