Ohio

General Information:

  1. Ohio maintains a list of eligible surplus lines insurers (see Other Comments section #1).
  2. Ohio does not have a Surplus Lines Association.
  3. Ohio does not have an Export List.
  4. Ohio does not have an industrial insured exemption but the NRRA exempt commercial purchaser exemption is in effect. (Ohio Rev. Code Ann. § 3905.331).
  5. Surplus lines tax: 5%, payable by broker.
  6. Ohio does allow domestic surplus lines insurers in the state.

Eligibility and Filing Requirements (Alien Insurers Only):

Alien insurers must be on the Quarterly Listing of Alien Insurers maintained by the NAIC Ohio Rev. Code Ann. § 3905.33(A)(2).

Eligibility and Filing Requirements (Foreign Insurers Only):

A surplus lines broker may not place coverage with a nonadmitted insurer unless, at the time of placement, the nonadmitted insurer:

  • Is authorized to write such insurance in its domiciliary jurisdiction; and
  • Possesses capital and surplus, or its equivalent under the laws of its domiciliary jurisdiction, that equals the greater of the minimum capital and surplus requirements under the laws of Ohio or $15 million. (Ohio Rev. Code Ann. § 3905.33(A)(1)).
  • Appears on Ohio’s list of eligible surplus lines insurers.

Types of Insurance Exempted from Surplus Lines Regulation:

Ocean marine insurance is exempt from reporting and taxation requirements when placed by a licensed agent.

Other Comments or Requirements:

  1. Ohio eligibility list is available at https://insurance.ohio.gov/companies/surplus-lines/resources/ohio-eligible-sl-companies-risk-groups.
  2. Ohio Insurance Department prefers the following language to appear on the declaration page of surplus lines policies:

    THE INSURANCE HEREBY EVIDENCED IS WRITTEN BY AN APPROVED NON-LICENSED INSURER IN THE STATE OF OHIO AND IS NOT COVERED IN CASE OF INSOLVENCY BY THE OHIO INSURANCE GUARANTY ASSOCIATION.

  3. The Ohio DOI has an on-line system for the reporting and payment of the surplus lines tax by surplus line brokers. Information on this system, including the user guide and account creation instructions can be found at https://insurance.ohio.gov/about-us/resources/surplus-lines-reporting-app.
  4. When a diligent search is required, the Surplus Lines Statement (INS 4024) must be used. The form is located at: https://dam.assets.ohio.gov/image/upload/insurance.ohio.gov/Forms/Documents/INS4024.pdf.