The American Insurance Association called the elimination of Ohio’s certificate of compliance publishing requirement a welcome move that reaffirms the state’s commitment to a modern, vibrant insurance market. According to AIA, the requirement was a decades-old regulatory burden on out-of-state insurers.
The state’s requirement forced insurers not headquartered in Ohio to annually publish copies of their Ohio Department of Insurance license in general circulation newspapers in every single county where they do business in order to prove their ability to conduct business in the state. For most insurers, this has meant the forced purchase of ads in papers in all 88 Ohio counties.
The provision removing the requirement was included in ODI’s 2006 budget and passed as part of the state’s omnibus budget bill, House Bill 66.
Topics Ohio
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