Agents placing business with an approved surplus lines company in Ohio, must be licensed as a surplus lines broker by the Ohio Department of Insurance. Ohio Revised Code requires all surplus lines brokers to contact admitted companies prior to placing any business with a surplus lines company.
Only persons licensed for property & casualty are eligible for a surplus lines broker’s license. A bond in the amount of $25,000, payable to the State of Ohio and issued by an authorized insurer is also required. Please note: Non-resident applicants licensed for surplus lines in their home state are NOT required to obtain a bond.
Surplus lines broker licenses expire on January 31, and must be renewed each year. Renewal notices are mailed to each broker. In addition, renewal of a surplus lines broker license is conditioned upon the broker's collection and payment of premium taxes. The taxes must be paid to the Ohio Treasurer of State.
INS3245 - Surplus Lines Broker Application
Laws governing surplus lines brokers can be found in sections 3905.30 – 3905.37 of the Ohio Revised Code.