Effective: March 30, 2007 Latest Legislation: Senate Bill 279 – 126th General Assembly As used in sections 3955.01 to 3955.19 of the Revised Code: (A) “Account” means either of the two accounts created by division (B) of section 3955.06 of the Revised Code. (B) “Affiliate” means a person that, directly or indirectly, through one or […]
Effective: October 26, 1989 Latest Legislation: House Bill 105 – 118th General Assembly Sections 3955.01 to 3955.19 of the Revised Code may be cited as the Ohio insurance guaranty association act.
Effective: June 29, 1994 Latest Legislation: House Bill 89 – 120th General Assembly The purposes of sections 3955.01 to 3955.19 of the Revised Code are to provide a mechanism for the payment of covered claims under certain insurance policies, avoid excessive delay in payment and reduce financial loss to claimants or policyholders because of the […]
Effective: October 26, 1989 Latest Legislation: House Bill 105 – 118th General Assembly Sections 3955.01 to 3955.19 of the Revised Code shall be liberally construed to effect the purpose stated under section 3955.03 of the Revised Code, which shall constitute an aid and guide to interpretation.
Effective: March 20, 2019 Latest Legislation: Senate Bill 273 – 132nd General Assembly Sections 3955.01 to 3955.19 of the Revised Code apply to all kinds of direct insurance, except: (A) Title insurance; (B) Fidelity or surety bonds, or any other bonding obligations; (C) Credit insurance, vendors’ single interest insurance, collateral protection insurance, or any similar […]
Effective: May 22, 2012 Latest Legislation: House Bill 267 – 129th General Assembly (A) There is hereby created an unincorporated nonprofit association to be known as the Ohio insurance guaranty association. All member insurers, as defined in division (D) of section 3955.01 of the Revised Code, shall be and remain members of the association as […]
Effective: May 21, 1976 Latest Legislation: House Bill 1267 – 111th General Assembly (A) The board of directors of the Ohio insurance guaranty association shall consist of not less than five nor more than nine persons serving terms as established in the plan of operation. The members of the board shall be selected by member […]
Effective: June 29, 1994 Latest Legislation: House Bill 89 – 120th General Assembly (A) The Ohio insurance guaranty association shall: (1) Be obligated to the extent of the covered claims existing prior to the determination that an insolvent insurer exists and arising within thirty days after such determination, or before the policy expiration date if […]
Effective: June 29, 1994 Latest Legislation: House Bill 89 – 120th General Assembly (A) The Ohio insurance guaranty association shall submit to the superintendent of insurance a plan of operation and any amendments to the plan necessary or suitable to assure the fair, reasonable, and equitable administration of the association. If the association fails to […]
Effective: June 29, 1994 Latest Legislation: House Bill 89 – 120th General Assembly (A) The superintendent of insurance shall: (1) Immediately furnish to the association a copy of any complaint filed by the superintendent in any court which seeks an order to rehabilitate or liquidate the company; (2) Notify the Ohio insurance guaranty association of […]
Effective: March 30, 2007 Latest Legislation: Senate Bill 279 – 126th General Assembly (A) The Ohio insurance guaranty association shall be subrogated to the rights of any person recovering under sections 3955.01 to 3955.19 of the Revised Code to the extent of the person’s recovery from the association. Every insured or claimant seeking the protection […]
Effective: June 24, 1994 Latest Legislation: House Bill 89 – 120th General Assembly (A) Any person having a covered claim upon which recovery is also presently possible under an insurance policy written by another insurer shall be required first to exhaust his rights under such other policy. Any amount payable on a covered claim under […]
Effective: June 29, 1994 Latest Legislation: House Bill 89 – 120th General Assembly To aid in the detection and prevention of insurer insolvencies: (A) The board of directors of the Ohio insurance guaranty association, upon a majority vote, may do the following: (1) Make recommendations to the superintendent of insurance for the detection and prevention […]
Effective: September 4, 1970 Latest Legislation: House Bill 1121 – 108th General Assembly The Ohio insurance guaranty association is subject to examination and regulation by the superintendent of insurance. The association shall submit in a form approved by the superintendent, not later than the thirtieth day of March of each year, a financial report for […]
Effective: September 4, 1970 Latest Legislation: House Bill 1121 – 108th General Assembly The Ohio insurance guaranty association is exempt from payment of all fees and taxes levied by this state or any of its subdivisions.
Effective: May 21, 1976 Latest Legislation: House Bill 1267 – 111th General Assembly (A) A rate shall not be found excessive under section 3935.03 or 3937.02 of the Revised Code solely because it contains a factor designed to recover any amounts paid to the Ohio insurance guaranty association by a member insurer as an assessment […]
Effective: June 29, 1994 Latest Legislation: House Bill 89 – 120th 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, the Ohio insurance guaranty association or its agents or employees, the board of directors, or the superintendent of insurance […]
Effective: June 29, 1994 Latest Legislation: House Bill 89 – 120th General Assembly To permit a proper defense by the Ohio insurance guaranty association of all pending causes of action, all proceedings in which an insolvent insurer is a party or is obligated to defend a party in any court in this state shall be […]
