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Ohio opens door to captive insurance market

InsuranceCaptive insurance companies have existed for over 100 years as a means for medium-to-large-sized businesses to manage risk through a form of self-insurance. In 2013, there were 6,342 captives globally compared to 4,688 just 10 years prior—talk about growth! Ohio recently opened its doors to the captive insurance market, allowing Ohio businesses to form captives to help protect assets. OII Insurance Matters looks at what this means for the future of Ohio’s insurance industry and business development. (READ POST)

Ohio legislation on e-auto insurance card effective March 23

smartphone
On Monday, March 23 legislation which confirms that drivers are able to show law enforcement officers their proof of auto insurance (financial responsibility) via a cell phone, laptop computer, tablet or other electronic wireless device becomes effective. Including Ohio, 38 states have laws or regulations in place permitting the use of e-insurance cards. See our release that details Ohio’s law and includes US statistics pertaining to this trend in modernizing state insurance laws and regulations. (VIEW RELEASE)

OII member spotlight: Money management 101

FinancialLast month, several OII member blogs featured articles on financial literacy – sharing expertise on everything from financial literacy and credit scores to saving and protecting your retirement nest egg. OII Insurance Matters takes a look at some of these tips and tricks to help you achieve your financial goals. (VIEW POST)

 

OII Ohio insurance 2015 trend report: Premiums remain well below US average

trend analysisDespite an uptick in Ohio’s auto and homeowners insurance premiums, they continue to remain affordable in the Buckeye State. Ohio’s average homeowners insurance premium expenditure ranks 9th lowest in the nation, while the average auto premium is 11th lowest. Find out what’s driving insurance trends in Ohio’s auto and homeowners markets, and what can you expect in terms of premiums.  View the OII 2015 trend report.

April 15th Insurance Education Day – Register by April 8th

191_calendar5Don’t miss out on Insurance Education Day on April 15th in Columbus.
Our speaker line-up includes Corey Dunbar, The Hartford Steam Boiler Inspection & Insurance Company; Paul Roetzer, PR 20/20; Tony Canas, American Modern Home, MunichRe and Tim Crespin, State Auto Insurance Companies. The program also features a panel of insurance company executives who will discuss key issues and trends impacting Ohio’s insurance market.
Get program details, and be sure to register online by April 8th.