3901-1-13 Mortgage guaranty insurance.

 

 

 

STATE OF OHIO DEPARTMENT OF INSURANCE

50 West Town Street, 3rd Floor, Suite 300 Columbus, Ohio 43215

 

 

 

IN THE MATTER OF PUBLIC                                :

HEARING FOR THE AMENDMENT OF              : NOTICE OF PUBLIC HEARING OHIO ADMINISTRATIVE CODE     :

SECTION 3901-1-13                                                 :

 

 

 

Pursuant to section 119.03 of the Ohio Revised Code, the Superintendent of Insurance, State of Ohio, will hold a public hearing at 9:30 a.m., on Friday, September 2, 2011 at the Ohio Department of Insurance, Public Hearing Room, 50 West Town Street, 3rd Floor, Suite 300, Columbus, Ohio, to consider the amendment of Ohio Administrative Code section 3901-1-13 Mortgage Guarantee Insurance.

 

The purpose of this rule is to implement division (A)(24) of section 3929.01 of the Revised Code, as it pertains to the writing and servicing of that kind of insurance known as mortgage guaranty insurance as hereinafter defined.

 

The purpose for amending this rule is to create a procedure for an insurer to request a waiver from the requirement that an insurer cease writing new mortgage insurance if the ratio of capital/surplus/contingency reserve to premium exceeds 25:1.

 

Requests for copies of this rule should be addressed to Tina Chubb, Ohio Department of Insurance, 50 West Town Street, 3rd Floor, Suite 300 Columbus, Ohio 43215, or proposed rule can be viewed online at www.insurance.ohio.gov.

 

 

Stephen J. Vamos, Staff Attorney

 

 

 

Dated at Columbus, Ohio this 1st day of August 2011.