Ohio Revised Code Search

...ire a mortgagor or borrower to purchase homeowners insurance coverage or other residential property insurance coverage in an amount that exceeds the replacement value of the dwelling and its contents, regardless of the amount of mortgage or other financing arrangement entered into by the mortgagor or borrower. The fair market value of the land on which the dwelling is located shall not be included in the replacement ...

...(A) As used in sections 3901.212 to 3901.213 of the Revised Code, "consumer" means a policyholder, potential policyholder, certificate holder, potential certificate holder, insured, potential insured, or applicant. (B) The superintendent may adopt rules pursuant to Chapter 119. of the Revised Code to implement the practices set forth in section 3901.213 of the Revised Code to ensure consumer protection. Such regula...

...(A) In the case of any contract of life insurance or life annuity, paying bonuses to policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated from nonparticipating insurance, provided that any such bonuses or abatement of premiums shall be fair and equitable to policyholders and in the best interests of the company and its policyholders; (B) In the case of life insurance poli...

...uable consideration as an inducement to insurance do not apply to commercial property and casualty insurance, but do apply to producer commission reductions not included in insurance company rate filings.

...The intent of the general assembly in amending section 3901.21 of the Revised Code and enacting sections 3901.212 and 3901.213 of the Revised Code is to promote innovation in connection with the offering of value-added services while maintaining strong consumer protections.

...(A) The superintendent of insurance may conduct hearings to determine whether violations of section 3901.20 of the Revised Code have occurred. Any person aggrieved with respect to any act that the person believes to be an unfair or deceptive act or practice in the business of insurance, as defined in section 3901.21 or 3901.211 of the Revised Code or in any rule of the superintendent, may make written application to ...

...nd material harm, the superintendent of insurance may issue an order that the person cease and desist from any activity violating such section. Notice of the order shall be served in accordance with section 119.05 of the Revised Code, immediately after its issuance by the superintendent to the person subject to the order and to all persons known to be involved in the violation. The superintendent may thereafter publi...

...ed, or to be conferred, pursuant to the insurance law of this state. Any such individual may execute, acknowledge, and file in the office of the superintendent of insurance a statement expressly waiving such immunity or privilege in respect to any transaction, matter, or thing specified in such statement; and thereupon the testimony of such person or such evidence in relation to such transaction, matter, or thing may...

... Revised Code. If the superintendent of insurance has reason to believe that an insurer is engaging in such unlawful advertising, the superintendent shall give notice of such fact to the insurer and to the insurance supervisory official of the domiciliary state of the insurer in accordance with section 119.05 of the Revised Code. For the purpose of this section, the domiciliary state of an alien insurer shall be deem...

...d deceptive practice in the business of insurance under section 3901.21 of the Revised Code.

...his state, and if the superintendent of insurance has reason to believe that a proceeding by him in respect to such matters would be to the interest of the public, and that such insurer is issuing or delivering contracts of insurance to residents of this state or collecting premiums on such contracts or doing any of the acts enumerated in section 3901.26 of the Revised Code, he shall take action against such insurer...

...he issuance or delivery of contracts or insurance to residents of this state, (2) the solicitation of applications for such contracts, (3) the collection of premiums, membership fees, assessments, or other considerations for such contracts, or (4) any other transaction of insurance business, is equivalent to and constitutes an appointment by such insurer of the superintendent of insurance and his successor or success...

...or the congress of the United States proclaims a national emergency because of an attack on the United States by nuclear or atomic weapons, or similar disaster, or when the governor of this state proclaims an emergency for corporations as described in division (U) of section 1701.01 of the Revised Code.

...at the board of directors of a domestic insurance company has not adopted emergency bylaws, the following provisions shall become effective upon the occurrence of an emergency as described in section 3901.27 of the Revised Code. (A) Three directors shall constitute a quorum for the transaction of business at all meetings of the board. (B) Any vacancy in the board may be filled by a majority of the remaining directo...

...me the board of directors of a domestic insurance company may, by resolution, provide that in the event of an emergency, as described in section 3901.27 of the Revised Code, and in the event of the death or incapacity of the president, the secretary, or the treasurer of the company, such officers or any of them shall be succeeded in the office by the person named or described in a succession list adopted by the board...

...e, the board of directors of a domestic insurance company may, by resolution, provide that in the event of an emergency, as described in section 3901.27 of the Revised Code, the home office or principal place of business of the company shall be at such location as is named or described in the resolution. Such resolution may provide for alternate locations and establish an order of preference.

...any equity security of a domestic stock insurance company which is not a wholly owned subsidiary of an insurance holding company system or who is a director or officer of such company, shall file with the superintendent of insurance within ten days after the person becomes such beneficial owner, director, or officer, a statement in such form as the superintendent of insurance may prescribe, of the amount of all equit...

...ot exist in fact. The superintendent of insurance may determine, after furnishing all persons in interest notice and opportunity to be heard and making specific findings of fact to support such determination, that control exists in fact, notwithstanding the absence of a presumption to that effect. (C) "Enterprise risk" means any activity, circumstance, event, or series of events involving one or more affiliates of ...

... as determined by the superintendent of insurance, is either directly or through its affiliates primarily engaged in business other than the business of insurance. (3) "Person" does not include any securities broker holding, in the usual and customary broker's function, less than twenty per cent of the voting securities of an insurance company or of any person that controls an insurance company. (B)(1) Subject to...

...ver it appears to the superintendent of insurance that any person has committed or is about to commit a violation of section 3901.321 of the Revised Code or of any rule or order issued by the superintendent under that section, the superintendent may apply to the court of common pleas of the county in which the principal office of the domestic insurer is located, or the court of common pleas of Franklin county if the ...

... a statement with the superintendent of insurance under section 3901.321 of the Revised Code; (2) All actions involving such person arising out of violations of section 3901.321 of the Revised Code. (B) Each person described in division (A) of this section is deemed to have performed acts equivalent to and constituting an appointment of the superintendent to be his attorney upon whom may be served all process in an...

...n this state and that is a member of an insurance holding company system shall register with the superintendent of insurance, except a foreign insurer subject to disclosure requirements and standards adopted by statute or regulation in the jurisdiction of its domicile that are substantially similar to those contained in this section and section 3901.341 of the Revised Code. Every insurer that is subject to registrati...

...ever form maintained, including: (i) Claims and claim files; (ii) Policyholder lists; (iii) Application files; (iv) Litigation files; (v) Premium records; (vi) Rate books; (vii) Underwriting manuals; (viii) Personnel records; (ix) Financial records or similar records within the possession, custody, or control of the affiliate. (b) At the request of the insurer, the affiliate shall provide that th...

...ta processing, marketing, underwriting, claims handling, investment, or any other similar functions; (2) Essential to the insurer's ability to fulfill its obligations under insurance policies. (H) Nothing in division (A) of this section shall be construed to authorize or permit any transaction that would otherwise be contrary to law.

...ion of insurers, the superintendent of insurance, subject to sections 119.01 to 119.13 of the Revised Code, shall also have the power to examine any insurer registered under section 3901.33 of the Revised Code and its affiliates to ascertain the financial condition of the insurer, including the enterprise risk to the insurer by the ultimate controlling party, or by any entity or combination of entities within ...