Ohio Insurers by Classification

According to the Ohio Department of Insurance, 1,793 insurance companies market insurance products within the state, one more than last year’s report. There are three types of insurance company classifications:

• Domestic (Ohio)—referring to an insurance company having its home office within the state
• Foreign—referring to an insurance company whose home office is located elsewhere in the US.
• Alien—referring to an insurance company domiciled outside the US.

Ohio has one of the most competitive environments for conducting insurance business, which benefits the consumer. There are 281 insurance companies domiciled in Ohio. Click here for a complete list of the state’s domiciled P/C companies.

This chart provides a look at the number of insurance companies by type licensed in the state as of December 2001.

Source: Ohio Department of Insurance, as of 12/13/01

Special notes regarding chart: There have been changes in ODI classifications of insurance companies since previous published lists. “Accident Assessment” companies are now known as “Mutual Protective Associations—Life & Health” and are regulated under Ohio Revised Code (ORC) Section 3919. “Fire Assessment” companies are now known as “Mutual Protective Associations—Property” and are regulated under Ohio Revised Code Section 3939. “Fraternals,” also known as “Fraternal Benefit Societies,” are regulated under Ohio Revised Code Section 3921. Examples of licensed fraternal organizations include the Alliance of Poles of America, Serb National Federation, Catholic Knights of Columbus and the Lutheran Brotherhood. The “Health Insuring Corporation” category includes all HMOs other than those considered Casualty/HMOs. “Casualty/HMOs” are now listed under “Property & Casualty.” This includes prepaid dental plans, dental care plans and health care corporations. These are regulated under Ohio Revised Code Section 1751. “MEWAs” are also known as “Multiple Employer Welfare Arrangements.” They are employee benefit programs, usually focusing on health benefits. These are regulated under ORC Section 3924.

According to the Academy of Producer Insurance Studies, a part of the National Alliance for Insurance Education and Research, the median insurance agent salary in 1998 was $34,370, most agents were college graduates, and that the profession expects to grow by 9% through 2008. (Chicago Tribune, 2/28/01)