State RegulationsOH specificDifficulty 1/5
No insurance company may transact a life insurance business in Ohio until it has obtained:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
ORC 3907.08 requires an insurer to obtain a certificate of authority from the Superintendent before transacting its insurance business in Ohio. The certificate of authority is the insurer's admission document; without it, the company cannot lawfully write life insurance in this state. This is distinct from producer licensing, which applies to individuals, and from appointments, which connect licensed producers to insurers.
Why the other options are wrong
- A) Officers of an insurer do not individually hold producer licenses as a prerequisite for the company to transact business; the company-level requirement is the certificate of authority.
- B) Appointments under Ohio law connect licensed producers to insurers; they are not the authorization an insurer itself needs to begin transacting business.
- C) A surety bond is not the entry requirement for an insurer; the gateway authorization for transacting business is the Superintendent's certificate of authority.
Memory hook
Insurers get a certificate of authority; people get licenses — don't swap them.