Section 1739.11 | Determining financial capacity of multiple employer welfare arrangement.
In determining the financial capacity of a multiple employer welfare arrangement operating a group self-insurance program to pay employee welfare benefit obligations promptly and to otherwise meet its obligations under sections 1739.01 to 1739.22 of the Revised Code, the superintendent of insurance may take into consideration all of the following:
(A) Maintenance of minimum reserves that are necessary in the exercise of sound and prudent actuarial judgment either and that are certified by a member of the American academy of actuaries as having been computed in accordance with accepted loss reserving standards and as being fairly stated in accordance with sound loss reserving principles, or determined to be sufficient through such other documentation acceptable to the superintendent;
(B) The existence and face value of contracts or policies of excess insurance;
(C) Any other measure of financial capacity as the superintendent considers appropriate.
Available Versions of this Section
- April 9, 1993 – House Bill 689, 119th General Assembly [ View April 9, 1993 Version ]