Effective: January 1, 1960
Latest Legislation: House Bill 1058 - 103rd General Assembly
(A) All claims shall be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract.
(B) All claims shall be paid either by draft drawn upon the insurer or by check of the insurer to the order of the claimant to whom payment of the claim is due pursuant to the policy provisions, or upon direction of such claimant to one specified.
(C) No plan or arrangement shall be used whereby any person, firm, or corporation other than the insurer or its designated claim representative shall be authorized to settle or adjust claims. The creditor shall not be designated as claim representative for the insurer in adjusting claims; provided, that a group policyholder may, by arrangement with the group insurer, draw drafts or checks in payment of claims due to the group policyholder subject to audit and review by the insurer.
Structure Ohio Revised Code
Chapter 3918 | Credit Life and Accident and Health Insurance
Section 3918.01 | Consumer Credit Insurance.
Section 3918.02 | Credit Life and Accident and Health Insurance Definitions.
Section 3918.03 | Form of Policies.
Section 3918.04 | Amount of Credit Life Insurance Not to Exceed Initial Indebtedness.
Section 3918.05 | Coverage Date.
Section 3918.06 | Delivery of Policy or Group Certificate of Insurance to Debtor.
Section 3918.07 | Filing Policies With Superintendent of Insurance.
Section 3918.08 | Filing Schedules of Premium Rates With Superintendent of Insurance.
Section 3918.09 | Authorized Insurers.
Section 3918.10 | Reporting and Payment of Claims.
Section 3918.11 | Debtor Has Option of Furnishing Additional Security Through Existing Policies.
Section 3918.12 | Rules and Regulations - Enforcement.