Ohio Revised Code Search

... of its funds; (5) Transfer any of its property; (6) Incur any debt, obligation, or liability; (7) Merge or consolidate with another company; (8) Enter into any new reinsurance contract or treaty. (D) Any insurer subject to an order under this section shall comply with the lawful requirements of the superintendent and, if placed under supervision, shall have sixty days from the date the supervision order is serv...

...nsurer be restored to possession of its property and the control of its business. The court may also make such a finding and issue such an order at any time upon its own motion.

...allowed unless the money is paid or the property is delivered to the liquidator within thirty days from the date of the entering of the final judgment, except that the court having jurisdiction over the liquidation may allow further time if there is an appeal or other continuation of the proceeding. (B) A claim allowable under division (A) of this section by reason of the avoidance, whether voluntary or involuntary,...

...or injury to or destruction of tangible property that are not under policies, and all claims of a guaranty association or foreign guaranty association. All claims under life insurance, annuity policies, and funding agreements, whether for death proceeds, annuity proceeds, investment values, principal, or interest, shall be treated as loss claims. That portion of any loss, indemnification for which is provided by othe...

...s appropriate. Persons dealing with the property of the insurer are charged with notice of a judgment ordering liquidation under this section from the time when the judgment is filed under Civil Rule 58, or a certified copy of the judgment is filed under Civil Rule 3(F), with the clerk of the court of common pleas of the county in which the principal business of the company is located or the county in which its princ...

... of any foreign or alien insurer having property located in this state.

...t forth in the RBC instructions. (2) A property and casualty insurer's RBC levels shall be determined in accordance with the formula set forth in the RBC instructions, applying the factors in the manner set forth in the RBC instructions. The formula shall take the following risks into account, and may adjust for the covariance between these risks: (a) Asset risk; (b) Credit risk; (c) UNDERWRITING risk; (d) All ...

...ing the superintendent to liquidate the property of the foreign insurer found in this state. The occurrence of the mandatory control level event shall be deemed sufficient grounds for the superintendent to make application to the court.

... superintendent may exempt any domestic property and casualty insurer from the application of sections 3903.81 to 3903.93 of the Revised Code, if the insurer meets all of the following requirements: (A) The insurer writes direct business only in this state; (B) The insurer writes direct annual premiums of three million dollars or less; (C) The insurer assumes no reinsurance in excess of five per cent of direct pre...

... the Revised Code: (i) Travel; (ii) Property; (iii) Personal. (b) The responsible insurance agent, president, secretary, treasurer, and any other officer or person who directs or controls the limited lines travel insurance agent's insurance operations shall comply with the fingerprinting requirements of section 3905.051 of the Revised Code or the applicable fingerprinting requirements of the home state of the...

...s in good standing in this state: (1) Property and casualty license; (2) Managing general agent license; (3) Third-party administrator license. (B)(1) A travel insurer is responsible for the acts of a travel administrator administering travel insurance underwritten by the travel insurer and is responsible for ensuring that the travel administrator maintains all books and records relevant to the travel insure...

...ation of remains, or incidental limited property and casualty benefits such as baggage or trip cancellation, may be filed under either an accident and health line of insurance or an inland marine line of insurance. (B) Eligibility and underwriting standards for travel insurance may be developed and provided based on travel protection plans designed for individual or identified marketing or distribution channels, pr...

...nsed in this state that holds an active property and casualty insurance agent license. (3) An insurance agent or surplus lines broker is exempt from the due diligence requirements of this section if the agent or surplus lines broker is procuring insurance from a risk purchasing group or risk retention group as provided in Chapter 3960. of the Revised Code. (4) An insurance agent or surplus lines broker is exempt fr...

... control, or disburse public or private property, or transacting the business of guaranteeing the performance of contracts other than insurance policies, or of executing or guaranteeing bonds or undertakings required or permitted in actions or proceedings, or allowed by law, unless it is expressly authorized by the laws of this state, and the laws regulating it and applicable thereto, have been complied with.

...e service contract issued by a licensed property and casualty insurance company as an insurance policy shall be governed by the laws of this state relating to insurance. (C) The sale or other issuance of a home service contract constitutes a consumer transaction for purposes of Chapter 1345. of the Revised Code. A person who purchases or is entitled to the benefits of a home service contract is a consumer as defined...

... repair, replacement, or maintenance of property, or indemnification for repair, replacement, or maintenance, due to excess wear and use, damage for items such as tires, paint cracks or chips, missing interior or exterior parts, or excess mileage that results in a lease-end charge, or any other charge for damage that is deemed as excess wear and use by a lessor under a motor vehicle lease, provided any such charge sh...

...n of the contract, the ownership of the property rights of all expiration information vests in the agent or the agent's heirs or assigns, and whose agency contract with an insurer permits the agent to represent concurrently other insurers of the agent's choice. (B) No agent other than an independent insurance agent shall represent self, or shall be represented, to the public as an independent insurance agent or a...

...s to every contract of agency between a property and casualty insurance company and an independent insurance agent which has been in effect for not less than two years. (2) This section does not apply to a contract of exclusive employment by, or an exclusive agency contract with, a single insurer or group of insurers under common ownership or control. (3) This section does not apply to an agent whose license has be...

...owners, owner-occupied fire or dwelling property coverage, personal umbrella liability, or any other personal lines-related coverage whether sold as a separate policy or as an endorsement to another personal lines policy; (3) Individual life insurance; (4) Individual sickness or accident insurance; (5) Disability income policies; (6) Credit insurance products. (C) Notwithstanding any other provision of this s...

...means any person licensed to transact a property and casualty insurance business in this state. "Insurer" does not mean any of the following: (1) Any risk retention group as defined in section 3960.01 of the Revised Code, the "Superfund Amendments and Reauthorization Act of 1986," 100 Stat. 1613, 42 U.S.C.A. 9671, or the "Product Liability Risk Retention Act of 1981," 95 Stat. 949, 15 U.S.C.A. 3901, as amended by th...

...ry note, an indemnity agreement, a real property mortgage in the name of the surety, and any filing under Chapter 1309. of the Revised Code. If the surety bail bond agent accepts on a bond collateral security in excess of fifty thousand dollars in cash, the cash amount shall be made payable to the surety in the form of a cashier's check, United States postal money order, certificate of deposit, or wire transfer. (4)...

... insure, and deal with its investments, property, and other assets to the same extent as any other person or corporation under the laws of this state and of the United States. (B) With respect to all of the insurer's investments, the board of directors of an insurer making investments under this chapter shall exercise the judgment and care, under the circumstances then prevailing, that persons of reasonable p...

...nd the accumulations thereon remain the property of the company, but that portion of the assets of the separate accounts equal to the reserves and other contractual liabilities under all policies, annuities, and other contracts identified with the separate accounts shall not be chargeable with liabilities arising out of any other business of the company. The company shall not be, or hold itself out to be, a trustee i...

...h policy shall revert to and become the property of the party whose life is insured, unless it has been transferred.

...ance company in and to every species of property, whether real, personal, or mixed, and any accompanying choses in action, shall be vested in the reorganized stock company, without any deed or transfer, and the reorganized stock company shall assume all the obligations and liabilities of the mutual insurance company. (B) Unless otherwise specified in a reorganization plan, those persons who are the directors and off...