HB3834: Relating to compensation for damage caused by wildlife; declaring an emergency.

Legislative Summary

The Act is about insuring against damage or loss caused by wildlife. The Act tells an agency to create a program for covering losses by private insurers that sell policies to protect against the damage or loss. The Act creates a new fund for the program. The Act gives money to put in the fund. (Flesch Readability Score: 74.4). Directs the Oregon Department of Administrative Services to establish a program to provide reinsurance against the risk of economic loss for insurers that issue policies of insurance against damage or loss caused by wildlife. Establishes the Wildlife Damage Reinsurance Fund, separate and distinct from the General Fund, for the department to use for reinsuring insurers that issue the policies. Appropriates moneys to the department for deposit in the Wildlife Damage Reinsurance Fund. Declares an emergency, effective on passage.