P&COhioeasy
Under Ohio's property and casualty rate regulation statute (R.C. 3937.02), a rate is unlawful if it is which of the following?
AFiled in fewer than three other states
BPersonally approved by the Governor of Ohio
Excessive, inadequate, or unfairly discriminatory
DIdentical for every Ohio insurer writing the line
Why this is the answer
R.C. 3937.02 codifies the universal three-prong rate standard for Ohio P&C lines: a rate is unlawful if it is excessive, inadequate, or unfairly discriminatory. The ODI Director administers the standard. Rates are not personally approved by the Governor, are not required to be identical across insurers, and multi-state filing requirements are not the legal test.
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