Effective: October 1, 1953
Latest Legislation: House Bill 1 - 100th General Assembly
Rates shall be made as follows:
(A) Manual, minimum class rates, rating schedules, or rating plans shall be made and adopted, except in the case of specific inland marine rates on risks specially rated.
(B) Rates shall not be excessive, inadequate, or unfairly discriminatory.
(C) Consideration shall be given to:
(1) Past and prospective loss experience within and outside this state;
(2) Conflagration and catastrophe hazards;
(3) A reasonable margin for underwriting profit and contingencies;
(4) Dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers;
(5) Past and prospective expenses both countrywide and those specially applicable to this state;
(6) All other relevant factors within and outside this state;
(7) In the case of fire insurance rates, the experience of the fire insurance business during a period of not less than the most recent five year period for which such experience is available.
Except to the extent necessary to comply with division (B) of this section, uniformity among insurers in any matters within the scope of this section is neither required nor prohibited.
Rates made in accordance with this section may be used subject to sections 3935.01 to 3935.17, inclusive, of the Revised Code.
Structure Ohio Revised Code
Section 3935.01 | Effect of Sections - Liberal Interpretation.
Section 3935.02 | Application of Sections - Exceptions.
Section 3935.03 | Rating Regulations.
Section 3935.04 | Filing of Rates and Schedules With Superintendent - Procedure.
Section 3935.05 | Processing of Filings.
Section 3935.07 | Deviation From Rates Filed by Bureau.
Section 3935.08 | Appeal to Superintendent From Action of Rating Bureau.
Section 3935.09 | Rate Information Furnished - Right of Review.
Section 3935.11 | Examination of Rating Bureau.
Section 3935.12 | Advisory Organizations.
Section 3935.13 | Regulations for Joint Underwriting or Joint Reinsurance.
Section 3935.14 | Copy of Order of Superintendent - Appeal From Order - Procedure.
Section 3935.16 | General Prohibition - Suspension of License.