Senate District 17
Bob Peterson
 
 
 
 
 
 
Senate Unanimously Passes Bill Ensuring Federal Compliance with National Reinsurance Model
May 27, 2020

COLUMBUS—State Senator Bob Peterson (R-Washington Court House) today announced the unanimous passing of Senate Bill 284, which would make revisions to Ohio's reinsurance laws that would bring the code into compliance with the recently amended National Association of Insurance Commissioners (NAIC) Credit for Reinsurance Model Law Act.


"This bill updates and strengthens Ohio's insurance regulations and allows Ohios to have continue to have a system that is safe, low cost, and effective," Peterson said.


States that have preciously adopted the model law are requires to update their laws by March 1, 2021 or face potential federal preemption. For more information on Senate Bill 284, click here. Senator Peterson's floor speech regarding the bill can be watched here.
 
 
 
 
 
 
 
 
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