Ohio law to bring changes to state’s insurance industry

Ohio Insurance industry

Insurance changes coming to Ohio thanks to new law Ohio lawmakers have approved a new budget that will bring major changes to the state’s insurance law. The change reduces the amount of money that insurance companies will receive from injury cases in which consumers are found at fault and cannot pay the full amount they owe. The change to the law has received significant support from lawmakers, with supporters suggesting that some companies in the insurance industry could be exploiting the old law for financial gain. Insurance companies will receive…

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Ohio insurance industry hit by severe weather

climate change weather storm insurance industry

Recent storms put some financial pressure on insurance companies operating in Ohio Recent storms have had a major impact on the insurance industry in Ohio. Recently, a tornado struck Green County, causing several thousands of dollars in damages. Though insurers do not expect losses to be to the degree of severe storms in the past, the recent storm is yet another blow to the insurance industry, which has begun to show concern for the increase in frequency of natural disasters. Some of these concerns are related to the potential effects…

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Health insurance controversy ignites in Ohio

Ohio Health Insurance Exchange

Controversy over sub-standard insurance policies in Ohio begins to brew New controversy has been sparked in Ohio concerning health insurance coverage and the Affordable Care Act. The state’s insurance companies are letting old insurance policies that do not comply with current federal standards expire. These policies had been allowed to exist due to changes made to the Affordable Care Act in order to ensure that those that could not access the state’s insurance exchange would remain insured. Whether or not these policies would be allowed to expire in Ohio is…

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Ohio insurance costs deemed affordable, for the most part

Ohio insurance auto premiums

An industry trade association has stated that auto and homeowners coverage can be afforded by most people. According to the latest data that has been released from an Ohio insurance industry trade association, auto and homeowners premiums are low enough that they can be afforded by the majority of the people living within the state. In fact, the rates within this state are notably lower than the average in the rest of the country. A report was issued by the Ohio Insurance Institute (OII) which has said that this state…

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Insurance industry in Ohio will add thousands of new jobs

Insurance Jobs

A tremendous number of new positions are opening up among the companies in the state. The Ohio insurance industry is promoting itself as an excellent place to start or accelerate a career with a large number of new job opportunities opening up among insurers within the state. The looming talent gap in Ohio could inhibit growth unless positions are filled and people are trained. The state has identified the financial services and insurance industry as a central sector for employment in Ohio. In fact, it is the seventh biggest state…

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