Prior to a Risk Purchasing Group (PG) writing business in Ohio a completed NAIC Risk Purchasing Group Registration Form must be submitted along with a certified copy of the PG’s Board Resolution for appointment and designation of service of suit. These materials should be sent to:
Ohio Department of Insurance
Office of Product Regulation
and Actuarial Services
50 W. Town Street, Suite 300
Columbus, OH 43215-1067
Ohio does not charge a fee for registering a PG.
PGs should consult the ORC 3960.06-3960.09 prior to submitting their registration. PGs using Surplus Lines Insurance Companies or a Risk Retention Group not chartered in Ohio must name their Ohio licensed Surplus Lines Broker in the registration form. PGs using Surplus Lines Insurance Companies or a Risk Retention Group not chartered in Ohio must comply with the notice requirement for applications and declaration pages found in Ohio Revised Code 3960.08. Upon registration the PG will receive an acknowledgment letter. If there is any change made in the original registration information, the change must be reported to the department at the address shown above within ten (10) days of the change.
There is no renewal process.
According to the Ohio Revised Code section 3960.09, the taxes and premiums from insurance purchased through the non-admitted market by a Risk Purchasing Group must be reported by the surplus lines agent or agency that sold it beginning with the 2017 calendar year business.
Your risk is not protected by the state insurance insolvency fund, and the insurer or the risk retention group from which your purchasing group obtained its insurance may not be subject to all of the insurance laws and rules of this state.
For more information or questions regarding PGs contact Property and Casualty Services at the Ohio Department of Insurance at 614-644-2635 or email@example.com.