Ohio Revised Code Search

...rmation practices to all applicants or policyholders in connection with insurance transactions as provided below: (1) In the case of an application for insurance, a notice shall be provided no later than one of the following times: (a) At the time of the delivery of the insurance policy or certificate when personal information is collected only from the applicant or from public records; (b) At the time the collect...

...of the Revised Code. (C) Both of the following shall be considered an unfair and deceptive act or practice in the business of insurance, as defined in section 3901.21 of the Revised Code, and are subject to, in addition to the penalties prescribed in section 3901.22 of the Revised Code, disciplinary action under section 3905.14 of the Revised Code: (1) Offering or selling a travel insurance policy that could neve...

...(A)(1) Except as provided in division (A)(2) of this section, any person licensed as an agent under this chapter may at any time surrender any or all licenses held by the person. (2) No agent shall surrender the agent's licenses if the superintendent of insurance is investigating any allegation of wrongdoing by the agent or has initiated proceedings under Chapter 119. of the Revised Code and notice of an oppo...

...ce except in the case of either of the following: (a) If one hundred per cent of the insured risk is located out of the state in which an insured maintains its principal place of business or principal residence as described in division (A)(1)(a) of this section, "home state" means the state to which the greatest percentage of the insured's taxable premium for that insurance contract is allocated. (b) If more than o...

...ercial purchaser satisfies all of the following requirements: (1) The person employs or retains a qualified risk manager to negotiate insurance coverage. (2) The person has paid aggregate nationwide commercial property and casualty insurance premiums in excess of one hundred thousand dollars in the immediately preceding twelve months. (3) The person satisfies at least one of the following criteria: (a) The ...

...urplus lines insurer unless all of the following are met: (1) The domestic insurer possesses minimum capital and surplus of at least fifteen million dollars. (2) The domestic insurer is seeking to become a domestic surplus lines insurer pursuant to a resolution adopted by its board of directors. (3) The superintendent of insurance has authorized the designation of the insurer as a domestic surplus lines insurer...

...to the superintendent of insurance the following fees: (A) Each insurance company doing business in this state shall pay: (1) For filing a copy of its charter or deed of settlement, two hundred fifty dollars; (2) For filing each statement, one hundred seventy-five dollars; (3) For each certificate of authority or license, one hundred seventy-five, and for each certified copy thereof, five dollars; (4) For each c...

...very of the vehicle after it has been stolen. "Incidental costs" may include, but are not limited to, insurance policy deductibles, rental vehicle charges, the difference between the actual value of the stolen vehicle at the time of the theft and the cost of a replacement vehicle, sales taxes, registration fees, transaction fees, and mechanical inspection fees. (2) "Vehicle protection product" means a vehicle protec...

...ode. (2) "Consumer goods" means goods sold, leased, assigned, awarded by chance, or transferred to a consumer in a consumer transaction. (3) "Consumer goods service contract" means a contract or agreement to perform or pay for repairs, replacement, or maintenance of consumer goods due to a defect in materials or workmanship, normal wear and tear, power surges, or accidental damage from handling, that is effective f...

... premium on business placed with a controlled insurer by a controlling producer is equal to or greater than five per cent of the admitted assets of the insurer, as reported in the insurer's quarterly statement filed as of the thirtieth day of September of the immediately preceding year, all of the following apply: (1) The controlled insurer shall not accept business from the controlling producer and the controlling ...

...intendent and shall include all of the following: (1) The name and principal business address of the applicant; (2) If the applicant is an individual, the applicant's current occupation; (3) If the applicant is an individual, the applicant's occupation or occupations during the five-year period prior to applying for the license to act as a managing general agent; (4) A copy of the contract between the applica...

... (D) The managing general agent shall hold all funds collected for the account of an insurer in a fiduciary capacity in a bank that is a member of the federal reserve system. The managing general agent shall use this account for all payments on behalf of the insurer. If the managing general agent represents more than one insurer, the managing general agent shall maintain separate accounts for each insurer. The manag...

... A surety bail bond agent that accepts collateral security or other indemnity shall comply with all of the following requirements: (1) The collateral security or other indemnity shall be reasonable in relation to the amount of the bond. (2) The collateral security or other indemnity shall not be used by the surety bail bond agent for personal benefit or gain and shall be returned in the same condition as received. ...

...All of the following classes of investments may be counted for the purposes specified in section 3906.11 of the Revised Code, whether they are made directly or as a participant in a partnership, joint venture, or limited liability company: (A) Cash, and cash equivalents, in the direct possession of the insurer or on deposit with a financial institution regulated by any federal or state agency of the United St...

...tion 3906.11 of the Revised Code, the following limitations on classes of investments shall apply: (1) For investments authorized by division (B) of section 3906.07 of the Revised Code and investments authorized by division (G) of section 3906.07 of the Revised Code that are of the types described in division (B) of section 3906.07 of the Revised Code the following limitations shall apply: (a) The aggregate ...

.... (2) "Individual risk" includes any policy, annuity, or contract issued pursuant to section 3907.15 of the Revised Code. (B) Except as provided in division (C) of this section, a domestic life insurance company shall not reinsure, by agreement or modification to an existing agreement, either of the following without the prior approval of the superintendent of insurance: (1) More than eighty per cent of an indi...

...rance company may invest in any of the following securities, subject to any applicable limitations contained in rules adopted by the superintendent of insurance: (1) Securities offered and sold pursuant to 15 U.S.C.A. section 77d(5); (2) Mortgage related securities described in 15 U.S.C.A. section 78c(a)(41); (3) Securities issued or guaranteed by the federal home loan mortgage corporation or the federal national ...

...2) At any time prior to the mailing to policyholders of the notice pursuant to division (B) of section 3913.27 of the Revised Code, which notice includes a summary of the reorganization plan, a mutual insurance company's board of directors may amend the reorganization plan by the affirmative vote of not less than two-thirds of the board of directors. At any time before a reorganization plan has received the approval...

...oved by the mutual insurance company's policyholders under section 3913.27 of the Revised Code until the reorganization plan has been reviewed by, and has received the approval of, the superintendent of insurance, and the articles of incorporation for the mutual insurance holding company and the reorganized stock company, and, if applicable, for an intermediate holding company, have been examined and approved by the ...

...t broker, as applicable, if all of the following apply: (1) Regarding an application for a license as a viatical settlement provider, the applicant provides all of the following: (a) A detailed plan of operation; (b) Proof of financial responsibility pursuant to division (D) of this section; (c) A general description of the method the applicant will use to determine life expectancies, including a description ...

...(A)(1) If any employee of a political subdivision or district of this state, or of an institution supported in whole or in part by public funds, authorizes in writing the proper officer of the political subdivision, district, or institution, of which the individual is an employee to deduct from the employee's salary or wages the premium or portion of the premium agreed to be paid by the employee to an insurer a...

...te applicable to life insurers issuing policies containing like benefits based upon such tables.

...applicable to life insurers that issue policies containing like benefits. (C) The superintendent of insurance may, in the superintendent's discretion, accept other standards for valuation if the superintendent finds that the reserves produced by such standards will not be less in the aggregate than reserves computed in accordance with the minimum valuation standards prescribed in this section. The superintendent may...

...ce prior to January 1, 1997. (B) The following persons shall not be required to be licensed in accordance with division (A) of this section: (1) Any regularly salaried officer, employee, or member of a licensed society who devotes substantially all of the person's services to activities other than the solicitation of fraternal insurance contracts from the public, and who receives for the solicitation of any s...

...deemed exhausted based on de minimis violations that do not cause, and are not likely to cause, prejudice or harm to the covered person so long as the health plan issuer demonstrates that the violation was for good cause or due to matters beyond the control of the health plan issuer and that the violation occurred in the context of an ongoing, good faith exchange of information between the health plan issuer an...