The Ohio Department of Insurance recently announced that Governor DeWine signed House Bill 197, which includes relief to insurance license-holders whose license expires during the coronavirus pandemic.
This bill applies to any individual or business entity with an active license with the Ohio Department of Insurance, including major lines agents; limited line agents; title agents; title insurance marketing representatives; managing general agents; public insurance adjusters and agents; reinsurance intermediary brokers and managers; surety bail bond agents; surplus lines brokers; third party administrators; and viatical settlement brokers.
In summary, if a license is set to expire during the state of emergency, it will remain valid and can be renewed until no later than 90 days after the state of emergency ends or December 1, 2020, whichever comes first. All late fees will be waived and license holders do not need to take any actions to receive the extension.
The deadline for continuing education requirements has also been extended, though license holders are encouraged to continue their requirements to the best of their ability so as to not overwhelm the system when the state of emergency ends.
Any person who is in the process of obtaining their initial license will be allowed to sit for an examination past the 180-day expiration of their license education course completion certificate.
Contact your Cornerstone representative for more information.