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It was created under the authority of section 121.02 of the Ohio Revised Code (ORC) and is administered by the Director of Insurance. Insurance companies operating in the state of Ohio are subject to regulation under Title 39; and depending upon the entity of the organization, Chapters 1751 and 1753 of the ORC. ODI is charge with seeing that ...
As a result of the federal Gramm-Leach-Bliley Act, most states have adopted uniform licensing laws, with 47 states being deemed reciprocal by the National Association of Insurance Commissioners. A state may revoke, suspend, or refuse to renew an insurance broker's license if at any time the state determines (typically after notice and a hearing ...
The first state commissioner of insurance was appointed in New Hampshire in 1851 and the state-based insurance regulatory system grew as quickly as the insurance industry itself. [4] Prior to this period, insurance was primarily regulated by corporate charter, state statutory law and de facto regulation by the courts in judicial decisions.
Geico, the insurer with the fourth biggest share of Ohio's auto insurance market, raised rates by 19.5% last year, according to Ohio Department of Insurance data. That was the most of the state's ...
Since late 1990s, all states allow insurance continuing education classes to be taken on-line. Often, a portion of the requirements may be satisfied through reading and other self-study as well. The number of credit hours of study required to get insurance licenses renewed vary from state to state.
Ohio state law requires drivers to maintain liability insurance in order to drive in the state. Ohio auto insurance requirements are referred to as the 25/50/25 rule.
It is a form that is typically filed with your state by your insurance company indicating that you are complying with the state’s minimum auto liability insurance requirements. If your license ...
Admitted insurance companies are those in the United States that have been admitted or licensed by the state licensing agency. The insurance they provide is called admitted insurance. Non-admitted companies have not been approved by the state licensing agency, but are allowed to provide insurance under special circumstances when they meet an ...