Ohio Code 3930.01 – Commercial market assistance plan – commercial insurance joint underwriting association definitions
As used in sections 3930.01 to 3930.18 of the Revised Code or in any rules adopted under such sections:
Terms Used In Ohio Code 3930.01
- Property: means real and personal property. See Ohio Code 1.59
(A) “Ohio commercial insurance joint underwriting association” means the nonprofit unincorporated joint underwriting association established under section 3930.03 of the Revised Code.
(B) “Commercial insurance” means any line of commercial casualty, commercial property, or commercial liability insurance except workers’ compensation, medical malpractice, pollution liability, environmental impairment liability, fidelity and surety, sickness and accident, or coverages available through involuntary market mechanisms. “Commercial insurance” does not include farmowners insurance policies.
(C) “Net direct premiums” means gross direct premiums written on commercial insurance including the liability component of commercial multi-peril package policies as computed by the superintendent of insurance less return premiums or the unused or unabsorbed portions of premium deposits.
(D) “Ohio commercial market assistance plan” means the mechanism created to respond to assist commercial insurance buyers in Ohio in obtaining difficult-to-place commercial insurance coverages.