Ohio Department of Insurance Director Lee Covington issued a reminder Sept. 20 to current property and casualty license holders that beginning Oct. 9, they will no longer be authorized to solicit or sell surety bail bonds issued by an insurance company unless they obtain a new bail bond license.
In January, Governor Bob Taft signed legislation (HB 730, sponsored by Rep. David Goodman) that provides for the specific licensing and regulation of surety bail bond agents by the Ohio Department of Insurance. Those wishing to sell surety bail bonds issued by an insurance company on or after Oct. 9, 2001, need to be licensed as a surety bail bond agent.
Any person who was licensed as a property & casualty insurance agent in Ohio and was actively engaged in the bail bonds business on April 9, 2001 – the effective date of the legislation – may obtain a surety bail bond license by submitting an application and $150 fee to the Department. A criminal background check will be required. Agents will not be required to take 40 hours of pre-licensing education courses or the surety bail bond examination as long as they apply before Oct. 9, 2001. Corporate agencies may also apply for this license. Applications are available through the Ohio Department of Insurance web site (www.ohioinsurance.gov) or by contacting the Department’s Licensing Division at (614) 644-2665.
On or after Oct. 9, all new applicants for surety bail bond licenses must complete 40 hours of bail-specific pre-licensing education and must pass a surety bail bond licensing examination. Beginning with the compliance period January 2003 to January 2005, all surety bail bond agents will be required to complete 14 hours of continuing education specifically related to the bail bond business. These courses must be approved by the Department of Insurance. Agents’ continuing education compliance periods will not change.
A property and casualty agent who became engaged in the bail bonds business after April 9, 2001, they must complete 40 hours of pre-licensing education and pass a surety bail bond licensing exam and meet all other requirements of a new applicant.
People formerly known as bail enforcement agents or “bounty hunters” now must be licensed as a surety bail bond agents, unless they are licensed as a private investigator or are an off-duty peace officer.
The surety bail bond license must be renewed annually; the annual renewal fee is $150.
Current property and casualty agents who obtain a surety bail bond agent license will have the option of maintaining, surrendering, or inactivating their property & casualty license. The license surrender and license inactivation forms are also available at the Department’s web site or by contacting the Licensing Division.
Since April 9, the Department has received 204 applications for surety bail bond licenses, has issued 105 licenses while 89 applicants are awaiting background checks.
Topics Agencies Legislation Ohio Property Training Development Property Casualty Casualty
Was this article valuable?
Here are more articles you may enjoy.
Woman Used Photos from Another Person in State Farm Claim, NCDOI Says 
Project 2025 Plan to End NFIP Welcomed by Some, Rejected by Others in Insurance 
Marsh McLennan Agency to Acquire The Horton Group 
Hacker Says AT&T Paid About $400,000 to Erase Sensitive Data 
