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 reforms could be beneficial to consumers

Ohio homeowners Insurance

Changes to the laws in the state could help to boost competition and strength while boosting protection for consumers. According to Mary Taylor, the director of the Ohio Insurance Department, as well as its Lieutenant Governor, the latest reforms to the insurance laws in the state could be exceptionally helpful for the maintenance of that industry’s strength and competition, and it may also bring additional protections to consumers. Senate Bill 140 is now also ready for the Governor, John Kasich’s signature. Once the Governor signs that bill into a law,…

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Auto insurance minimum coverage in Ohio to rise

Ohio insurance auto premiums

Drivers must now carry a larger amount of coverage in order to comply with the state’s law. For the first time since 1969, Ohio has increased the minimum required coverage that drivers must carry in order to be able to legally drive. This new law will come into effect as of December 2013, and will considerably increase the current minimum. In fact, it is estimated that the minimum coverage for drivers will be at least double what it currently is. This will mean that drivers will have to carry auto…

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