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Ohio Insurers by Classification
According to the Ohio Department of Insurance, 1,793 insurance
companies market insurance products within the state, one more 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 281 insurance
companies domiciled in Ohio. 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 2001.
Source: Ohio Department of Insurance, as of 12/13/01
Special notes regarding chart: There have been changes in
ODI classifications of insurance companies since previous published
lists. “Accident Assessment” companies are now known as
“Mutual Protective Associations—Life & Health”
and are regulated under Ohio Revised Code (ORC) Section 3919. “Fire
Assessment” companies are now 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 licensed fraternal organizations include the Alliance
of Poles of America, Serb National Federation, Catholic Knights
of Columbus and the Lutheran Brotherhood. The “Health Insuring
Corporation” category includes all HMOs other than those considered
Casualty/HMOs. “Casualty/HMOs” are now listed under “Property
& Casualty.” 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 ORC Section 3924.
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According to the Academy of Producer
Insurance Studies, a part of the National Alliance for Insurance
Education and Research, the median insurance agent salary
in 1998 was $34,370, most agents were college graduates, and
that the profession expects to grow by 9% through 2008.
(Chicago Tribune, 2/28/01)
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