The state is lowering the fee Ohio insurance agents and agencies pay to have their licenses renewed late or reinstated.
Lt. Gov. Mary Taylor, who also leads Ohio’s Department of Insurance, says the move is aimed at maintaining the state’s competitive insurance market. The change takes effect on Tuesday.
Ohio-licensed agents and agencies will see their fee for renewing their license late fall to $50, from $100. For license reinstatement, the fee drops to $100, from $300.
Taylor says the department also will allow agents and agencies to print their own licenses and continuing education transcripts.
She says the change would save the state time and resources by using web-based technology to let agents and agencies print the documents.
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