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Risk Assessment FAQ

Below are some of the most common questions and answers that the department's Risk Assessment division receives. If you have a questions not addressed here, please fill the feedback and/or contact forms on the right side of the page or call us at risk.assessment@insurance.ohio.gov.
 

All insurance companies other than Health Insuring Corporations (HIC) should use the appropriate Uniform Certificate of Authority Application (UCAA) Primary or Expansion Application when filing for an Ohio Certificate of Authority. Instructions and forms for the UCAA can be found at the National Association of Insurance Commissioners’ (NAIC) website at www.naic.org/industry_ucaa.htm. For instructions regarding filing for an Ohio Certificate of Authority as a Health Insuring Corporation, please refer to Company Admission Application - Health Insuring Corporations.

When an admitted foreign insurer desires to become an Ohio domestic insurer, certain documents or information must be submitted with the answers to any questions under oath by the president or chief executive officer of the company. The Redomestication to Ohio page explains all of the steps and documents necessary to complete the process.

Information regarding Annual filing requirements for Approved Surplus Lines, Fraternal Societies, Health Insuring Corporations, Life, Accident and Health Companies, Multiple Employer Welfare Arrangements (MEWAs), Mutual Protective Associations, Property & Casualty Companies, and Title Companies can be found here.

Risk Assessment monitors the financial solvency of insurance companies licensed in the state of Ohio. Staff review financial statements of every company licensed in Ohio and complex transactions to ensure that insurance companies are safe, sound and have enough money to pay claims filed by consumers. The division closely monitors the financial condition of insurance companies doing business in Ohio by conducting in-house analyses of financial statements and all other supplemental filings made by insurers. Staff also monitor insurers’ statutory and solvency compliance on an ongoing basis and conducts periodic on-site field examinations.

Risk Assessment has four main areas: Domestic Company Analysis, Foreign and Alien Company Analysis, Financial Condition Examination and Licensing and ​Administration. Click here to view more.