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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1.65 | Insurance rating agencies.

 

(A) As used in the Revised Code, "insurance rating agency" means A.M. Best Rating Services, Inc., Demotech, Inc., or a rating agency certified or approved by a national entity that engages in an approval process that includes all of the following:

(1) A requirement for the rating agency to register and provide an annual updated filing;

(2) Record retention requirements;

(3) Financial reporting requirements;

(4) Policies for the prevention of misuse of material, nonpublic information;

(5) Management of conflicts of interest, including prohibited conflicts;

(6) Prohibited acts and practices;

(7) Disclosure requirements;

(8) Required policies, practices, and internal controls;

(9) Standards of training, experience, and competence for credit analysts.

(B) Any reference in the Revised Code to an entity named in division (A) of this section shall be construed as a reference to any insurance rating agency as defined in division (A) of this section. Any reference in the Revised Code to a specific entity not named in division (A) of this section but otherwise meeting the definition of "insurance rating agency" in division (A) of this section shall be construed as a reference to an insurance rating agency as defined by division (A) of this section.

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