OHIO INSURANCE REGULATORS SEE UNINSURED MARKET STABILIZING.
The commercial auto insurance market for uninsured/ underinsured motorist coverage in Ohio is stabilizing two years after passage of a state law eliminating a requirement that insurers offer the coverage, the state Insurance Department reported Nov. 17.
The Department said the report
"Today, Ohio's market for UM/UIM coverage is competitive in terms of availability and affordability," said Insurance Director Ann Womer Benjamin.
"Insurers continue to offer coverage even though they are not required to do so, and the rates are coming down."
The law was passed after the state Supreme Court's 1999 decision in Scott-Ponzer v. Liberty Mutual, which extended commercial auto insurance coverage to employees when they are not at work. In Westfield, the court overturned that decision and ruled the policies cover only injured employees and only if the accident occurs in the course and scope of their employment.
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