Ohio Revised Code Search

...sting to the best of that individual's belief and knowledge that the insurer has implemented the corporate governance practices and that a copy of the disclosure has been provided to the insurer's board of directors or the appropriate committee thereof. (D)(1) For purposes of completing the CGAD, the insurer or insurance group may provide information regarding corporate governance at one or all of the following lev...

...with the rules adopted by the superintendent pursuant to section 3901.077 of the Revised Code regarding the required content of the CGAD and shall contain the material information necessary for the superintendent to gain an understanding of the insurer's or group's corporate governance structure, policies, and practices. (3) All documentation and supporting information shall be maintained and made available for exa...

...al documents, materials, or other CGAD-related information pursuant to division (E) of this section to assist in the performance of the superintendent's regulatory duties. (D) Neither the superintendent nor any person who receives documents, materials, or other CGAD -related information, through examination or otherwise, while acting under the authority of the superintendent or with whom such documents, materials, ...

...orate governance annual disclosure and related information or an insurer's compliance with sections 3901.072 to 3901.078 of the Revised Code. The superintendent shall retain a third-party consultant under this division at the expense of the applicable insurer. (B) Each third-party consultant retained under division (A) of this section shall do all of the following : (1) Serve under the direction and control of th...

...The superintendent shall adopt rules in accordance with Chapter 119. of the Revised Code as are reasonably necessary to implement sections 3901.072 to 3901.078 of the Revised Code.

...ates to the superintendent that the imposition of the penalty would constitute a financial hardship to the insurer.

... state, for information as he requires relating to the financial transactions of any of these institutions or entities with any insurance company, fraternal beneficiary association, or assessment association, authorized to do business in this state.

...his state, upon the receipt of the requisition authorized by section 3901.08 of the Revised Code, or within five days after the receipt of the requisition, shall furnish to the superintendent of insurance in writing all the information called for in the requisition and in the manner and form as directed in the requisition.

...to the laws of this state, are reduced below the capital required by law for a stock company or the surplus required for any other company, he shall require such company to restore such deficiency within a period designated by him of not less than thirty days nor more than ninety days. He may prohibit such company from issuing any new policies or transacting any new business until it has furnished evidence satisfacto...

...is not inconsistent with any other law relating to the investment of the funds of domestic insurers, and provided further that by reason of such retention, investment, or acquisition of such capital stock, or common management, the business of such insurers with the public shall not be conducted in a manner which substantially lessens competition generally in the business of insurance or creates a monopoly therein.

...Any person otherwise qualified may be a director of two or more insurers which are competitors or which have a common management, but no such interlocking directorate shall be used as a means of substantially lessening competition generally in the business of insurance or of creating a monopoly therein.

...erintendent of insurance has reason to believe that there is a violation of section 3901.11 or 3901.12 of the Revised Code, he shall serve upon the insurers and directors a notice of a hearing before the superintendent to be held not less than thirty days after the service of such notice, and requiring such insurers and directors to show cause why an order should not be made by the superintendent directing such insu...

...The superintendent of insurance shall preserve a full record of his proceedings, including a concise statement of the condition of each insurance company or association authorized to transact business in this state. Each year the superintendent shall report their general conduct and condition, including the information contained in the statement required of them, arranged in tabular form in two separate reports, one...

...The laws relating to the superintendent of insurance apply to all persons, companies, and associations, whether incorporated or not, engaged in the business of insurance.

...lates any law relating to the superintendent of insurance, any provision of Chapter 1751. or 1753. of the Revised Code, or any insurance law of this state, for the violation of which no forfeiture or penalty is elsewhere provided in the Revised Code, shall forfeit and pay not less than one thousand nor more than ten thousand dollars, to be recovered by an action in the name of the state and on collection to be paid t...

...Revised Code. (3) "Laws of this state relating to insurance" has the same meaning as in section 3901.04 of the Revised Code. (4) "Person" has the same meaning as in section 3901.19 of the Revised Code. (5) "Home state" has the same meaning as in section 3905.30 of the Revised Code. (B) Any of the following acts in this state, effected by mail or otherwise, by any foreign or alien insurer not authorized to tr...

...trative proceeding before the superintendent of insurance, such unauthorized insurer shall either: (1) Deposit with the clerk of the court in which such action, suit, or proceeding is pending or with the superintendent if such proceeding is before him, cash or securities or file with such clerk or the superintendent a bond with good and sufficient sureties, to be approved by the court or the superintendent, in an am...

...ons 3901.19 to 3901.26 of the Revised Code: (A) "Person" means any individual, corporation, association, partnership, reciprocal exchange, inter-insurer, fraternal benefit society, title guarantee and trust company, health insuring corporation, and any other legal entity. (B) "Residents" includes any individual, partnership, or corporation. (C) "Maternity benefits" means those benefits calculated to indemnify the ...

...on shall engage in this state in any trade practice which is defined in sections 3901.19 to 3901.23 of the Revised Code as, or determined pursuant to those sections to be, an unfair or deceptive act or practice in the business of insurance. This section applies to any person, as defined in section 3901.19 of the Revised Code, regardless of whether the person is licensed or required to be licensed by the superintende...

...ishing, disseminating, circulating, or delivering to any person, or placing before the public, or causing directly or indirectly to be made, published, disseminated, circulated, delivered to any person, or placed before the public, any false statement of financial condition of an insurer. Making any false entry in any book, report, or statement of any insurer with intent to deceive any agent or examiner lawfully ap...

...erson may reject an insurance policy solely because the policy has been issued or underwritten by a person that is not associated with the person, or an affiliate of the person, rejecting the policy. (B) No person that lends money or extends credit may do any of the following: (1) As a condition for extending credit or offering any product or service that is equivalent to an extension of credit, require that a cust...

...s 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 regulations, consistent with...

...overage for the policy class. (b) It relates to the insurance coverage. (c) It is primarily designed to do one or more of the following: (i) Provide loss mitigation or loss control; (ii) Reduce claim costs or claim settlement costs; (iii) Provide education about liability risks or risk of loss to persons or property; (iv) Monitor or assess risk, identify risks, or identify risk of loss to persons or prope...

...s 3901.213 and 3933.01 of the Revised Code that prohibit a producer or insurer from giving rebates, discounts, gifts, or other valuable 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.

...ending 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.