Effective: October 26, 1989 Latest Legislation: House Bill 105 – 118th General Assembly As used in sections 3960.01 to 3960.13 of the Revised Code: (A) “Completed operations liability” means liability arising out of the installation, maintenance, or repair of any product at a site that is not owned or controlled by either a person who […]
Effective: October 26, 1989 Latest Legislation: House Bill 105 – 118th General Assembly (A) No risk retention group organized under the laws of this state shall transact business in this state unless both of the following apply: (1) It has capital and surplus in an amount of not less than two million five hundred thousand […]
Effective: May 26, 2010 Latest Legislation: House Bill 300 – 128th General Assembly All of the following apply to risk retention groups chartered and licensed in states other than this state, that seek to do business as a risk retention group in this state: (A) No risk retention group shall offer insurance in this state […]
Effective: October 27, 1989 Latest Legislation: House Bill 105 – 118th General Assembly (A)(1) Every application form for insurance from a risk retention group and every policy or certificate of insurance issued by a risk retention group shall contain in ten-point type on the front page and the declaration page, the following notice: “Notice This […]
Effective: October 26, 1989 Latest Legislation: House Bill 105 – 118th General Assembly (A) Sections 3955.01 to 3955.19 of the Revised Code do not apply to risk retention groups. No risk retention group shall be required or permitted to join or contribute financially to the Ohio insurance guaranty association or similar mechanism in this state. […]
Effective: June 27, 2005 Latest Legislation: Senate Bill 124 – 126th General Assembly (A) A purchasing group and its insurer or insurers are subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers, in regard to liability insurance for the purchasing group, are exempt from any law […]
Effective: January 1, 2021 Latest Legislation: House Bill 339 – 133rd General Assembly (A) No purchasing group shall conduct business in this state unless it has done both of the following: (1) Issued a notice to the superintendent of insurance that does all of the following: (a) Identifies the state in which the purchasing group […]
Effective: October 26, 1989 Latest Legislation: House Bill 105 – 118th General Assembly (A) No purchasing group shall purchase insurance from a risk retention group that is not chartered, or from an insurer that is not admitted to do business, in the state in which the purchasing group is located, unless the purchase is effected […]
Effective: October 26, 1989 Latest Legislation: House Bill 105 – 118th General Assembly Premium taxes or taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing group shall be imposed and paid in accordance with the following: (A) Imposed at the […]
Effective: October 26, 1989 Latest Legislation: House Bill 105 – 118th General Assembly (A) The superintendent of insurance may exercise any powers to enforce the insurance laws of this state applicable to risk retention groups and purchasing groups, except those that are specifically preempted by the federal “Product Liability Risk Retention Act of 1981,” 95 […]
Effective: March 20, 2019 Latest Legislation: Senate Bill 273 – 132nd General Assembly (A) No person shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state from a risk retention group unless the person is licensed as an insurance agent or broker in accordance with Chapter 3905. of […]
Effective: October 26, 1989 Latest Legislation: House Bill 105 – 118th General Assembly The superintendent of insurance may adopt any rules necessary or desirable for the enforcement of sections 3960.01 to 3960.13 of the Revised Code.
Effective: October 26, 1989 Latest Legislation: House Bill 105 – 118th General Assembly The superintendent of insurance, after notice and an opportunity for hearing under Chapter 119. of the Revised Code, may do all of the following: (A) Suspend, revoke, or refuse to renew the certificate of authority of a risk retention group that violates […]
