Key Takeaways
- Ohio commercial property insurance uses file and use rate regulation
- Commercial policies must disclose terrorism coverage options under TRIA
- Ohio allows surplus lines placement after diligent search of admitted insurers
- Surplus lines tax in Ohio is 5% of premium
- Business interruption and extra expense coverage follow standard commercial forms
Last updated: January 2026
Ohio Commercial Property Insurance
Ohio regulates commercial property insurance with specific requirements for rates, surplus lines, and coverage availability.
Rate Regulation
Under Ohio file and use system, commercial property insurance rates:
- May be used immediately upon filing
- Subject to ODI review after implementation
- Must not be excessive, inadequate, or unfairly discriminatory
- Can be disapproved if ODI finds violations
Commercial Rate Filing
| Requirement | Details |
|---|---|
| Filing | Required before use |
| Approval | Not required before use |
| Review | ODI reviews after implementation |
| Disapproval | ODI can disapprove after review |
Terrorism Insurance
TRIA (Terrorism Risk Insurance Act)
- Federal program providing terrorism insurance backstop
- Ohio insurers must offer terrorism coverage
- Policyholder can accept or reject terrorism coverage
- Disclosure of coverage terms required
Required Disclosures
- Coverage limits for terrorism
- Premium for terrorism coverage
- Right to accept or reject
- Exclusions and limitations
Commercial Property Coverage
Ohio commercial property follows standard forms:
Coverage Types
| Coverage | Description |
|---|---|
| Building | Structure and permanently attached items |
| Business Personal Property | Contents, inventory, equipment |
| Business Income | Lost income during restoration |
| Extra Expense | Additional costs to continue operations |
Surplus Lines Insurance
Ohio allows surplus lines insurance for risks not available in the admitted market:
Surplus Lines Requirements
| Requirement | Details |
|---|---|
| Diligent Effort | Must attempt to place with admitted insurers |
| Affidavit | Producer must file affidavit of due diligence |
| Surplus Lines Agent | Must use licensed SL agent |
| Surplus Lines Tax | 5% of premium |
| Disclosure | Must disclose SL status to insured |
Ohio Export List
Ohio maintains a list of risks that may be exported directly to surplus lines without a diligent search:
- Unique or unusual risks
- Hard-to-place specialty coverage
- Excess and umbrella liability
- Professional liability for certain classes
Surplus Lines Insurer Requirements
- Must be approved by ODI
- Adequate financial strength required
- Listed on Ohio Surplus Lines Association list
- Subject to regulatory oversight
Business Interruption Insurance
Ohio commercial policies include business interruption provisions:
Key Provisions
- Coverage for lost income during restoration period
- Waiting period typically 72 hours
- Period of restoration clearly defined
- Extended period of indemnity available
- Civil authority coverage for government-ordered closures
Extra Expense Coverage
- Covers costs to continue operations during restoration
- Separate limit from business interruption
- Examples: temporary location, expedited repairs
Builders Risk
Ohio builders risk insurance:
- Covers buildings under construction
- Available on completed value or reporting form
- Theft coverage may require endorsement
- Transit coverage for materials available
- Soft costs coverage for delays
Test Your Knowledge
What is the Ohio surplus lines tax rate?
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Test Your Knowledge
Before placing a risk in the Ohio surplus lines market, a producer must:
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D