Ohio Revised Code Search

... major lines set forth in divisions (B)(1) to (6) of section 3905.06 of the Revised Code.

... the servicing of insurance business: (1) The surviving spouse or court-appointed personal representative of a licensed insurance agent who dies or becomes mentally or physically disabled, to allow adequate time for the sale of the insurance business owned by the agent or for the recovery or return of the agent to the business, or to provide for the training and licensing of new personnel to operate the agent's busi...

...adopt rules in accordance with Chapter 119. of the Revised Code to do the following: (1) Establish procedures for the issuance, renewal, late renewal, extension, reactivation, and reinstatement of insurance agent licenses; (2) Provide for the issuance and renewal of limited authority licenses, and establish any prelicensing education, examination, or continuing education requirements the superintendent consi...

...nd is compensated by the insurer. (B)(1) To appoint an insurance agent as its agent, an insurer shall file a notice of appointment with the superintendent of insurance not later than thirty days after the date the agency contract is executed or the first insurance application is submitted, whichever is earlier. The notice of appointment shall be provided in the manner prescribed by the superintendent. Each in...

...tion provided pursuant to section 3905.21 of the Revised Code and makes it available to other insurance commissioners or to regulatory or law enforcement agencies, is immune from any civil liability that otherwise might be incurred or imposed as a result of either of the following: (1) Any statement required by section 3905.21 of the Revised Code or any information relating to any such statement, which information m...

...(A) As used in this section: (1) "Home service contract" means a contract, however described or denominated by the issuer of the contract, whereby, for a predetermined fee, a person undertakes to repair or replace all or any part of any structural component, appliance, or system of a home necessitated by wear and tear, deterioration, or inherent defect that occurs on or after the effective date of the home service c...

...(A) As used in this section: (1) "Service provider" means any public or private provider of services, including, but not limited to, all of the following services: (a) Electricity, gas, water, wastewater, solid waste collection, or similar utility; (b) Communications involving the transmission, conveyance, or routing of voice, data, audio, video, or any other information or signals, through any medium or method no...

...rrent list of both of the following: (1) Licensed insurance agents that have met all of the requirements necessary to offer or sell insurance through an exchange; (2) Individuals and business entities that have been certified by the superintendent as an insurance navigator. (B) An exchange shall make available a list of insurance agents operating near the individual's residence address that are certified to ...

...nder section 3905.04 or sections 3905.481 to 3905.486 of the Revised Code. (B) No course or program of study shall be offered in this state under section 3905.04 or sections 3905.481 to 3905.486 of the Revised Code unless it is approved by the superintendent. (C) A course or program of study offered in this state under section 3905.04 or sections 3905.481 to 3905.486 of the Revised Code shall be developed or spon...

...As used in sections 3905.61 to 3905.65 of the Revised Code: (A) "Accredited state" means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the national association of insurance commissioners. (B) "Captive insurer" means an insurer owned by another organization and whose exclusive purpose...

...As used in sections 3905.71 to 3905.79 of the Revised Code: (A) "Actuary" means a person who is a member in good standing of the American academy of actuaries. (B) "Insurer" means any person licensed to do business in this state under Chapter 1751. or 1761. of the Revised Code or Title XXXIX of the Revised Code. (C) "Laws of this state relating to insurance" has the same meaning as in section 3901.04 of the Revise...

...e operating fund created by section 3901.021 of the Revised Code. (C)(1) By appointing a surety bail bond agent, an insurer certifies to the superintendent that the person is competent, financially responsible, and suitable to represent the insurer. (2) An insurer shall be bound by the acts of the person named in the appointment within that person's actual or apparent authority as its agent. (D) A surety bail...

... section 3929.30 of the Revised Code: (1) Bail bond premiums written prior to deducting the amounts retained by surety bail bond agents; (2) Amounts withheld by surety bail bond agents as an expense, not reported as an expense by the insurer.

...tion facility, as defined in section 2921.01 of the Revised Code, or in, or on the property or grounds of, any court. For purposes of this division, "solicit" includes, but is not limited to, the distribution of business cards, print advertising, or any other written information directed to prisoners or potential indemnitors, unless a request is initiated by the prisoner or potential indemnitor. Permissible pri...

...ly to entities organized under Chapters 1731., 1751., 3907., 3919., 3921., 3925., 3931., 3939., 3941., and 3953. of the Revised Code. (B) An insurer may apply to the superintendent for permission to make investments under this chapter, in lieu of making investments under any other section of the Revised Code. (C) In determining whether to permit an entity to invest pursuant to this chapter, the superintenden...

...ion shall also be governed by sections 1701.59 and 1702.30 of the Revised Code, as applicable. (C) An insurer making investments under this chapter shall establish and implement internal controls and procedures to assure compliance with investment policies and procedures to assure that all of the following are met: (1) The insurer's investment staff and any consultants used are reputable and capable. (2) A p...

...visions (A) and (B) of this section: (1) General economic conditions; (2) The possible effect of inflation or deflation; (3) The expected tax consequences of investment decisions or strategies; (4) The fairness and reasonableness of the terms of an investment considering its probable risk and reward characteristics and relationship to the investment portfolio as a whole; (5) The extent of the diversificatio...

...endent may, in accordance with section 119.03 of the Revised Code, adopt rules interpreting and implementing the provisions of this chapter. (B) The superintendent may, in accordance with section 119.03 of the Revised Code, adopt one or more of the following restrictions on investments in rules: (1) The superintendent may prescribe for defined classes of insurers special procedural requirements, including spe...

...lication, shall be valued as follows: (1) All obligations having a fixed term and rate shall, if not in default as to principal and interest be valued as follows: (a) If purchased at par, at the par value; (b) If purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchas...

...ized in this state under sections 3907.01 to 3907.21 of the Revised Code, or unless the entire capital stock of the company is fully paid up and invested as required by the laws of the state where it is organized. If it is a mutual company, net actual cash in the amount of not less than one million dollars of the same description, invested and deposited as required by the laws of the state where it was organized, sha...

...t least all of the following amounts: (1) An amount that equals the unearned portions of the gross premiums charged on unexpired or unterminated risks and policies; (2) An amount that is estimated to be sufficient to provide for the ultimate payment of all losses or claims, whether reported or unreported, for which the company may be liable, if the losses or claims are incurred on or before the date that the annual...

...Sec. 3911.091. (A) As used in this section, "employer" means any individual, sole proprietorship, partnership, limited liability company, corporation, or any other entity that is doing business in this state. "Employer" also includes all entities or persons that are controlled by or affiliated with any such individual, sole proprietorship, partnership, limited liability company, corporation, or other entity. Whether ...

...ion or entity described in division (B)(1) of section 3911.09 of the Revised Code, or any creditor, or to a trustee for the benefit of such spouse, children, dependent persons, institution or entity, or creditor, shall be held, together with the proceeds or avails of such contracts, subject to a change of beneficiary if desired, free from all claims of the creditors of such insured person or annuitant. Subject to the...

...surance company, pursuant to sections 3913.11 to 3913.13 of the Revised Code, provided that the company have unassigned surplus at least equal to the capital and surplus required under section 3907.05 of the Revised Code for a life insurance company to commence business in this state, that such conversion will benefit the company, that adequate provision for protection of the policyholders' interests is made, and tha...

...other than life, pursuant to sections 3913.20 to 3913.23 of the Revised Code, provided that such conversion will benefit the company, that adequate provision for protection of the policyholders' interests is made, and that such conversion is not inequitable, unreasonable, or contrary to law. (B) The board of directors of a mutual company desiring to become a stock insurance corporation shall, by a majority vote, ado...

...bilitation or liquidation is granted: (1) A transfer of any of the property of the insurer, other than real property, made to a person acting in good faith shall be valid against the rehabilitator or liquidator if made for a present fair equivalent value, or, if not made for a present fair equivalent value, then to the extent of the present consideration actually paid therefor, for which amount the transferee shall ...

...tion or proceeding under sections 3903.01 to 3903.59 of the Revised Code shall be set off and the balance only shall be allowed or paid, except as provided in division (B) of this section and section 3903.33 of the Revised Code. (B) No setoff or counterclaim shall be allowed in favor of any person where any of the following apply: (1) The obligation of the insurer to the person would not at the date of the filing o...

...r any of the following circumstances: (1) The existence of the claim was not known to the claimant and he filed his claim as promptly thereafter as reasonably possible after learning of it; (2) A transfer to a creditor was avoided under sections 3903.26 to 3903.28 of the Revised Code, or was voluntarily surrendered under section 3903.29 of the Revised Code, and the filing satisfies the conditions of section 3903.29...

...of the following that are applicable: (1) The particulars of the claim including the consideration given for it; (2) The identity and amount of the security on the claim; (3) The payments made on the debt, if any; (4) That the sum claimed is justly owing and that there is no setoff, counterclaim, or defense to the claim; (5) Any right of priority of payment or other specific right asserted by the claimants; (6)...

...later, is an unexcused late filer. (C)(1) The liquidator shall make recommendations to the court under section 3903.42 of the Revised Code, for the allowance of an insured's claim under division (B) of this section after consideration of the probable outcome of any pending action against the insured on which the claim is based, the probable damages recoverable in the action, and the probable costs and expenses of de...

...lowing ways, as the court may direct: (1) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditor; (2) By agreement, arbitration, compromise, or litigation between the creditor and the liquidator. (B) The determination shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The ...

...one or more of the following grounds: (1) Any of the grounds in section 3903.12 of the Revised Code; (2) That any of its property has been sequestered by official action in its domiciliary state, or in any other state; (3) That enough of its property has been sequestered in a foreign country to give reasonable cause to fear that the insurer is or may become insolvent; (4) That its certificate of authority to do b...

...ate, on any of the following grounds: (1) Any of the grounds in section 3903.12 or 3903.17 of the Revised Code; (2) Any of the grounds specified in divisions (A)(2) to (4) of section 3903.50 of the Revised Code. (B) When an order is sought under division (A) of this section, the court shall cause the insurer to be given such notice and time to respond thereto as is reasonable under the circumstances. (C) If it sh...

...state if both of the following apply: (1) There are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver; (2) The protection of creditors or policyholders in this state so requires. (B) The court may issue an order appointing an ancillary receiver in whatever terms it shall consider appropriate. Persons dealing with the property of the insurer are charged with ...

...arily limited to only the following: (1) Its investments are made so as to make unavailable within a reasonable time sufficient moneys to meet promptly any demand which might in the ordinary course of business be properly made against it; (2) Any of its officers or directors have embezzled, sequestered, or wrongfully diverted any of its assets; (3) It has willfully violated its charter or any law of this state....

...) As used in sections 3903.72 to 3903.7211 of the Revised Code: (1) "Accident and health insurance" means a contract that incorporates morbidity risk and provides protection against economic loss resulting from accident, sickness, or medical conditions and as may be specified in the valuation manual. (2) "Appointed actuary" means a qualified actuary who is appointed in accordance with the valuation manual to p...

...d under division (B) of section 3903.721 of the Revised Code. For disability, accident and sickness, accident and health insurance contracts issued on or after January 1, 1989, and prior to the operative date of the valuation manual, the minimum standard of valuation is the standard adopted in rules by the superintendent.

...As used in sections 3903.81 to 3903.93 of the Revised Code: (A) "Adjusted RBC report" means an RBC report that has been adjusted by the superintendent of insurance in accordance with division (C) of section 3903.82 of the Revised Code. (B) "Authorized control level RBC" means the number determined under the risk-based capital formula in accordance with the RBC instructions. (C) "Company action level RBC" means the...

...from the superintendent of insurance: (1) An adjusted RBC report; (2) Notification that the insurer's RBC plan or revised RBC plan is unsatisfactory and a statement that the notification constitutes a regulatory action level event for the insurer; (3) Notification that the superintendent has determined that the insurer has failed to adhere to its RBC plan or revised RBC plan, which failure has a substantial advers...

...o the superintendent by the later of: (1) The date a domestic insurer would be required to file an RBC report under section 3903.82 of the Revised Code; (2) Fifteen days after the superintendent's request is received by the foreign insurer. (B) Each foreign insurer shall, upon receiving the superintendent's written request, promptly submit to the superintendent a copy of any RBC plan or revised RBC plan filed with...

...valid, which shall be no longer than: (1) In the case of authorizations signed for the purpose of collecting information in connection with an application for an insurance policy, a policy reinstatement, or a request for change in policy benefits, thirty months from the date the authorization is signed; (2) In the case of authorizations signed for the purpose of collecting information in connection with a claim for...

...ved, shall do all of the following: (1) Inform the individual of the nature and substance of such recorded personal information in writing, by telephone, or by other oral communication, whichever the insurance institution, agent, or insurance support organization prefers; (2) Permit the individual to obtain a copy of such recorded information in a manner agreed upon by the individual and insurance institution, ...

..., shall furnish all of the following: (1) The specific reason or reasons for the adverse underwriting decision, in writing, if such information was not initially furnished in writing pursuant to division (A) of this section; (2) The specific items of personal and privileged information that support those reasons. However, the following conditions apply: (a) The insurance institution or agent shall not be required ...

...here a hearing pursuant to section 3904.16 of the Revised Code results in the finding of a knowing violation of sections 3904.01 to 3904.22 of the Revised Code, the superintendent of insurance may, in addition to the issuance of a cease and desist order as prescribed in section 3904.18 of the Revised Code, order payment of a monetary penalty of not more than five hundred dollars for each violation but not to exceed t...

...tendent of insurance under section 3904.19 of the Revised Code, or any person whose rights under sections 3904.01 to 3904.22 of the Revised Code were allegedly violated, may obtain a review of any order or report of the superintendent by filing in the appropriate common pleas court, within thirty days from the date of the service of such order or report, a written petition requesting that the order or report of the s...

...es not apply to any of the following: (1) Any insurer. For purposes of this division, "insurer" does not include an insurer's officers, directors, employees, subsidiaries, or affiliates. (2) Any officer, director, or employee of an insurer or of an insurance agent, provided the officer, director, or employee does not receive any commission on policies written or sold to insure risks residing, located, or to be perf...

...(A)(1) An individual who applies for a resident insurance agent license in this state within ninety days after establishing a principal place of residence or principal place of business in this state shall not be required under section 3905.04 of the Revised Code to complete a program of insurance education or to pass a written examination if the individual has paid all applicable fees required under this chap...

...(A) As used in this section: (1)(a) "Applicant" means a natural person applying for either of the following: (i) A resident license as an insurance agent or surety bail bond agent; (ii) An additional line of authority under an existing resident insurance agent license if a criminal records check has not been obtained within the last twelve months for insurance license purposes. (b) "Applicant" includes a natu...

...(A)(1) Except as provided in division (A)(2) of this section, travel insurance shall be classified and filed, for purposes of rates and forms, under an inland marine line of insurance. (2) Travel insurance that provides coverage for sickness, accident, disability, or death occurring during travel, either exclusively or in conjunction with related coverages of emergency evacuation or repatriation of remains, or inc...

...(A)(1) If a nonresident person licensed as a nonresident insurance agent under section 3905.07 of the Revised Code changes the person's address within the person's state of residence, the person shall, within thirty days after making that change, file a change of address with the superintendent of insurance or the superintendent's designee. (2) If a nonresident person licensed as a nonresident insurance agent...