Current with legislation from 2024 received as of August 15, 2024.
Section 1.65 - Insurance rating agencies(A) As used in the Revised Code, "insurance rating agency" means A.M. Best Rating Services, Inc., Demotech, Inc., or a rating agency certified or approved by a national entity that engages in an approval process that includes all of the following: (1) A requirement for the rating agency to register and provide an annual updated filing;(2) Record retention requirements;(3) Financial reporting requirements;(4) Policies for the prevention of misuse of material, nonpublic information;(5) Management of conflicts of interest, including prohibited conflicts;(6) Prohibited acts and practices;(7) Disclosure requirements;(8) Required policies, practices, and internal controls;(9) Standards of training, experience, and competence for credit analysts.(B) Any reference in the Revised Code to an entity named in division (A) of this section shall be construed as a reference to any insurance rating agency as defined in division (A) of this section. Any reference in the Revised Code to a specific entity not named in division (A) of this section but otherwise meeting the definition of "insurance rating agency" in division (A) of this section shall be construed as a reference to an insurance rating agency as defined by division (A) of this section.Added by 132nd General Assembly, SB 273,§1, eff. 3/20/2019.