Lawriter - OAC - 3901-1-23 Inland marine risks.

3901-1-23 Inland marine risks.

(A) Purpose

The purpose of this rule is to define what constitutes an inland marine risk.

(B) Authority

This rule is promulgated pursuant to the authority vested in the superintendent under section 3901.041 of the Revised Code.

(C) Inland marine risks

(1) Inland marine risks shall be established by the nation-wide inland marine definition, approved and recommended by the "National Association of Insurance Commissioners" on December 9, 1976 .

(2) Any company wishing to deviate from the nation-wide inland marine definition shall make a formal filing and obtain approval of the superintendent of insurance before using such deviation.

(D) Severability

If any paragraph, term or provision of this rule is adjudged invalid for any reason, the judgment shall not affect, impair or invalidate any other paragraph, term or provision of this rule, but the remaining paragraphs, terms and provisions shall be and continue in full force and effect.

Effective: 11/16/2017
Five Year Review (FYR) Dates: 8/31/2017 and 08/31/2022
Promulgated Under: 119.03
Statutory Authority: 3901.041
Rule Amplifies: 3905.04
Prior Effective Dates: 1/20/1967, 12/1/1978