Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly As used in this chapter: (A) “Account” means either of the two accounts created under section 3956.06 of the Revised Code. (B) “Authorized assessment,” or “authorized,” in the context of assessments, means a resolution by the board of directors has been passed […]
Effective: November 20, 1989 Latest Legislation: House Bill 89 – 118th General Assembly This chapter may be cited as the Ohio life and health insurance guaranty association act.
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly The purpose of this chapter is to protect, subject to certain limitations, the persons specified in division (A) of section 3956.04 of the Revised Code against failure in the performance of contractual obligations under life, health, and annuity policies, plans, or contracts […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A) This chapter provides coverage, by the Ohio life and health insurance guaranty association, for the policies and contracts specified in division (C) of this section to all of the following persons: (1) Persons, regardless of where they reside, except for nonresident […]
Effective: November 20, 1989 Latest Legislation: House Bill 89 – 118th General Assembly This chapter shall be liberally construed to effect its purpose as set forth in section 3956.03 of the Revised Code.
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A) There is hereby created an unincorporated nonprofit association to be known as the Ohio life and health insurance guaranty association. All member insurers shall be and remain members of the association as a condition of their license or authority to transact […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A) The board of directors of the Ohio life and health insurance guaranty association shall consist of not less than nine nor more than eleven member insurers serving terms as established in the plan of operation. A majority of the members of […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A)(1) Subject to any conditions imposed as provided in division (A)(2) of this section, the Ohio life and health insurance guaranty association may do either of the following with respect to an impaired member insurer: (a) Guarantee, assume, reissue, or reinsure, or […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A) For the purpose of providing the funds necessary to carry out the powers and duties of the Ohio life and health insurance guaranty association, the board of directors shall assess the member insurers, separately for each subaccount or account, at such […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A)(1) The Ohio life and health insurance guaranty association shall submit to the superintendent of insurance a plan of operation and any amendments to the plan necessary or suitable to ensure the fair, reasonable, and equitable administration of the association. The plan […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A) The superintendent of insurance shall: (1) Upon request of the board of directors of the Ohio life and health insurance guaranty association, provide the association with a statement of the premiums in this and any other appropriate states for each member […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly To aid in the detection and prevention of member insurer insolvencies or impairments: (A) The superintendent of insurance shall do all of the following: (1) Notify the commissioners of insurance of all the other states, territories of the United States, and the […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A) Nothing in this chapter shall be construed to reduce the liability for unpaid assessments of the insureds or enrollees of an impaired or insolvent insurer operating under a plan with assessment liability. (B) Records shall be kept of all resolutions adopted […]
Effective: November 20, 1989 Latest Legislation: House Bill 89 – 118th General Assembly The Ohio life and health insurance guaranty association is subject to examination and regulation by the superintendent of insurance. The board of directors shall submit to the superintendent each year, not later than four months after the end of the association’s fiscal […]
Effective: November 20, 1989 Latest Legislation: House Bill 89 – 118th General Assembly The Ohio life and health guaranty association is exempt from payment of all fees and all taxes levied by this state or any of its political subdivisions.
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly There shall be no liability on the part of, and no cause of action of any nature shall arise against, any member insurer or its agents or employees, the Ohio life and health guaranty association or its agents or employees, the board […]
Effective: November 20, 1989 Latest Legislation: House Bill 89 – 118th General Assembly All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed sixty days from the date an order of rehabilitation or liquidation is final to permit proper legal action by the association on any […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A)(1) No person shall make, publish, disseminate, circulate, or place before the public, or cause to be made, published, disseminated, circulated, or placed before the public, in any newspaper, magazine, or other publication, or in the form of a notice, circular, pamphlet, […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A) The provisions of this chapter in effect prior to the effective date of this section shall apply to all matters relating to any impaired insurer or insolvent insurer for which the association first became obligated under section 3956.08 of the Revised […]
Effective: September 13, 2022 Latest Legislation: Senate Bill 273 – 134th General Assembly (A)(1) A member insurer may offset against its premium or franchise tax liability twenty per cent of the assessment described in division (H) of section 3956.09 of the Revised Code in each of the five calendar years following the fiscal biennium in […]
