Independent Insurance v. Fabe

The principal issue in this case is whether R.C. 3905.01(B) and 3905.04 prohibit the licensing of applicants affiliated with non-insurance financial institutions. For the reasons that follow, we hold that the statutes permit such licensing.

I

Background

At the outset it should be recognized that the insurance industry is a mature, highly regulated industry with sophisticated legal and legislative *313advisors. This case is part of a “turf battle” for insurance business. As observed by another court, there is “a huge commercial tug-of-war between the bank holding company industry on one hand and…