Property and Casualty
Property and Casualty is responsible for the review of policy forms, endorsements, and manual rules and rates for products marketed to Ohio consumers by Ohio licensed property and casualty companies.
Products reviewed include commercial lines (e.g. insurance for businesses – auto, general liability, professional liability including medical malpractice, property, crime, fidelity and surety) and personal lines (e.g. insurance for individuals and families – auto and homeowners). The office also reviews title insurance, risk purchasing and risk retention group registrations, and notification forms and surplus lines quarterly reports.
Rates, by law, cannot be excessive, inadequate, or unfairly discriminatory and consumers must be able to understand the policy language. Actuarial standards of practice are used to determine whether rates are in compliance.
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Life, Health and Managed Care
Life, Health and Managed Care is charged by statute to review the contractual provisions of all Ohio-licensed life and health and accident policies to ensure they are in compliance with Ohio and federal laws. There are over 1,200 insurance companies licensed to offer life and health insurance in the State of Ohio. Along with policy and rate review, the office also licenses multiple employer trusts, alliances and health insuring corporations and accredits independent review organizations.
Life, Health and Managed Care verifies that rates are actuarially sound, values the reserve liabilities for domestic life insurance companies, ensures that contracts adhere to state and federal laws and regulations, and provides guidance to the industry and legislature on life and health insurance issues.
Life, Health and Managed Care is responsible for licensing and monitoring the activities of all health insuring corporations – also known as HMOs – operating in Ohio. It reviews rates, contracts and certificates of authority, major modifications and other pertinent filings submitted by HMOs.
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