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 the Revised Code.
(B) No person shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state for a purchasing group from an authorized insurer or a risk retention group chartered in a state unless the person is licensed as an insurance agent or broker in accordance with Chapter 3905. of the Revised Code.
(C) No person shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance coverage in this state for any member of a purchasing group under a purchasing group's policy unless the person is licensed as an insurance agent or broker in accordance with Chapter 3905. of the Revised Code.
(D) No person shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance from an insurer not authorized to do business in this state, or from a domestic insurer designated as a domestic surplus lines insurer pursuant to section 3905.332 of the Revised Code, on behalf of a purchasing group located in this state unless the person is licensed as a surplus line broker in accordance with section 3905.30 of the Revised Code.
Structure Ohio Revised Code
Section 3960.01 | Risk Retention Definitions.
Section 3960.02 | Requirements for Transacting Business.
Section 3960.03 | Requirements for Foreign Risk Retention Groups.
Section 3960.04 | Notices on Application Forms and Policies.
Section 3960.05 | No Coverage by Ohio Insurance Guaranty Association or Similar Mechanism.
Section 3960.06 | Applicability of Laws to Purchasing Group.
Section 3960.07 | Requirements of Purchasing Group for Transacting Business.
Section 3960.08 | Restricting Purchases of Insurance.
Section 3960.09 | Premium Taxes or Taxes on Premiums Paid for Coverage of Risks.
Section 3960.10 | Authority and Powers of Superintendent of Insurance.
Section 3960.12 | Adoption of Rules for Enforcement.
Section 3960.13 | Enforcement Powers of Superintendent of Insurance.