Ohio Administrative Code › Title 3901 - Department of Insurance › Chapter 3901-1 - General Provisions › Section 3901-1-18 - Ohio fair plan - plan of operation

Current through all regulations passed and filed through July 1, 2024
(A) Purpose
The purpose of this rule is for adoption by the superintendent
				of a plan of operation submitted by the board of governors of the "Ohio Fair
				Plan Underwriting Association". The plan of operation has been formulated for
				the purpose of making basic property and homeowners' insurance coverage, as
				identified in section
				3929.42
				of the Revised Code, available for qualified property owned by persons who have
				been unable to secure such insurance in the normal insurance market.
(B) Authority
This rule is promulgated pursuant to the authority vested in
				the superintendent under section
				3901.041
				of the Revised Code. This plan of operation is adopted pursuant to section
				3929.43
				of the Revised Code and implements sections
				3929.41 to
				3929.49
				of the Revised Code.
(C)
			 Definitions
(1) "Association" means the "Ohio
			 Fair Plan Underwriting Association" created under section
			 3929.43
			 of the Revised Code.
(2) "Basic
			 property insurance" means insurance against direct loss to property as defined
			 and limited in standard fire policies and extended coverage endorsements
			 thereon, as approved by the superintendent, and insurance for such types,
			 classes and locations of property against the perils of vandalism, malicious
			 mischief, burglary, theft or liability, as the superintendent shall designate.
			 The association is also authorized to provide insurance against the perils of
			 burglary, robbery, and theft for properties. Such coverage is to be provided by
			 separate policies. Basic property insurance does not include automobile
			 insurance or insurance on manufacturing risks.
(3) "Environmental hazard" means any
			 hazardous condition that might give rise to loss under an insurance contract,
			 but which is beyond the control of the property owner.
(4) "Insurable risks" means property that
			 meets the reasonable underwriting standards of the association.
(5) "Underwriting standards" means the
			 underwriting standards for basic property insurance and homeowners' insurance
			 which have been filed with the superintendent.
(6) "Homeowners' insurance" means insurance
			 on owner-occupied dwellings providing personal multi-peril property and
			 liability coverages, commonly known as homeowners' insurance, subject to
			 underwriting standards, exclusions, deductibles, rates and conditions as are
			 customarily used by member insurers for similar coverages.
(7) "Location" means real and personal
			 property consisting of and contained in a single building or in contiguous
			 buildings under one ownership.
(8)
			 "Urban area" means the state of Ohio having been so designated by the
			 superintendent.
(9)
			 "Superintendent" means the superintendent of insurance of the state of
			 Ohio.
(10) "Member insurer" means
			 an insurer required to be a member of the association by section
			 3929.43
			 of the Revised Code.
(11) "Licensed
			 agent" means any person licensed by the superintendent pursuant to section
			 3905.01
			 of the Revised Code.
(12) "Board"
			 means the board of governors of the association authorized pursuant to section
			 3929.43
			 of the Revised Code.
(13)
			 "Applicant" means any person applying for insurance from the
			 association.