OAPSLO Industry Resources
Ohio Regulatory Issues
- General Information: http://www.insurance.ohio.gov/Company/Pages/SLInfo.aspx
- Link for affidavit: http://www.insurance.ohio.gov/forms/documents/INS4024.pdf
- 3905.30 Resident and nonresident surplus lines broker’s license.
- 3905.31 Prohibitions.
- 3905.32 License fees.
- 3905.33 Unauthorized insurers; applicability and construction of federal provisions; due diligence.
- 3905.331 Exempt commercial purchasers; qualifications; qualified risk managers.
- 3905.34 Separate accounts.
- 3905.35 Bond.
AAMGA – American Association of Managing General Agents
A.M. Best – Insurance company ratings and financial information
AIA – The American Insurance Association
Big “I” News – Latest News from the Big I
III – Insurance Information Institute
IIABA – Independent Insurance Agents and Brokers of America
NAIC – National Association of Insurance Commissioners
NCOIL – National Conference of Insurance Legislators
OII – Ohio Insurance Institute
PIA National – National Association of Professional Insurance Agents
PIAA of Ohio – Professional Independent Agents Association of Ohio (Ohio is a merged PIA/BIG I State)
SILA – Securities and Insurance Licensing Association
Frequently Asked Questions
Surplus lines tax exemption
Taxability of Fees
The State of Ohio advised us that company fees are viewed just like premium and are taxable. Broker fees, program manager and underwriting manager fees are not taxable.
How to Properly Complete the Affidavit
Exempt Commercial Purchaser Regulations
Section 3905.331 of the Ohio Revised Code addresses this issue.
Corporate Surplus Lines Licenses in Ohio
If commissions are paid to an individual, the individual must be surplus lines licensed and must file and pay taxes.
If commissions are paid to a business entity, the business entity must be surplus lines licensed and is responsible for all filings and taxes.