Chapter 7: General Reference
Numbers Of Insurance Companies In Ohio
 

According the to Ohio Department of Insurance, 1,783 insurance companies market insurance products within the state (as of December, 1999), six fewer than last year's report. There are three types of insurance company classifications:

  • Domestic (Ohio)-referring to an insurance company having its home office within the state
  • Foreign-referring to an insurance company whose home office is located elsewhere in the US.
  • Alien-referring to an insurance company domiciled outside the US.

Ohio has one of the most competitive environments for conducting insurance business, which benefits the consumer. There are 297 insurance companies domiciled in Ohio, down two from the 299 domestic insurers reported in 1998. Nationally, Ohio ranks 10th based on the number of property/casualty insurance companies domiciled within the Buckeye state with 125, which includes the Ohio FAIR Plan, Ohio Auto Plan and three Casualty/HMO companies. Click here for a complete list of the state's domiciled P/C companies.

This chart provides a look at the number of insurance companies by type licensed in the state as of December, 1999.

Ohio Insurance Companies by Classification
Type of Insurance Domestic Foreign Alien Total
Accident Assessment 2 0 0 2
*Casualty/HMO 3 0 0 3
*Fire & Casualty 122 786 8 916
Fire Assessment 40 0 0 40
Fraternal 14 60 1 75
Health Insuring Corporation 41 7 0 48
Home Warranty 6 3 0 9
Life 45 577 6 628
Reciprocal 1 16 0 17
Title 13 22 0 35
MEWA 10 0 0 10
Total Ohio Insurance Cos. 297 1,471 15 1,783
* Classifications under P/C insurance lines
Source: Ohio Department of Insurance
According to the National Association of Insurance Commissioners, there were 3,366 P/C companies in the US in 1997.
Note: "Accident Assessment" companies are also known as "Mutual Protective Associations-Life" and are regulated under Ohio Revised Code Section 3919. "Fire Assessment" companies are also known as "Mutual Protective Associations-Property" and are regulated under Ohio Revised Code Section 3939. "Fraternals," also known as "Fraternal Benefit Societies," are regulated under Ohio Revised Code Section 3921. Examples of some of the licensed fraternal organizations in Ohio include the Alliance of Poles of America, Serb National Federation, Catholic Knights of Columbus and the Lutheran Brotherhood. "Health Insuring Corporations" include all HMOs other than those considered Casualty HMOs. This includes prepaid dental plans, dental care plans and health care corporations. These are regulated under Ohio Revised Code Section 1751. "MEWAs" are also known as "Multiple Employer Welfare Arrangements." They are employee benefit programs, usually focusing on health benefits. These are regulated under Ohio Revised Code Section 3924.