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February is Insurance Careers Month
by Judith L. French, Director
February marks Insurance Careers Month, providing an opportunity to shine a spotlight on the increasing demand for skilled professionals in Ohio's dynamic insurance industry, one of the largest in the world. Growth, along with a wave of upcoming retirements, has created an abundance of career opportunities across a broad spectrum of well-paying and rewarding roles.
A workforce analysis conducted by Regionomics forecasts that nearly 108,000 new workers will be required to fill positions from 2021 to 2031. This demand is driven by both expansion within the industry and turnover due to retirements.
In response to this need, the Ohio Department of Insurance created a toolkit aimed at helping job seekers navigate the wide range of opportunities. The toolkit lists resources that offer valuable guidance on leveraging transferable skills, pursuing insurance-related academic programs, exploring different insurance career paths, and accessing current job openings.
Additionally, we are a partner in the Insuring Ohio Futures initiative, which provides for collaboration with key stakeholders, including higher education institutions, government entities, and industry leaders, to address insurance education and workforce development topics. We are also closely aligned with the Governor’s Office of Workforce Transformation, JobsOhio, and the National Association of Insurance Commissioners to ensure that Ohio remains an attractive and competitive environment for both insurance businesses and innovation.
Now is an ideal time to explore career paths within Ohio’s insurance sector. Whether new to the workforce, transitioning from another field, or seeking insurance professional advancement, a wealth of opportunities are available that align with a range of skills and expertise.
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High School Tech Internship Program Reimburses Ohio Employers for Hosting Interns
The Governor’s Office of Workforce Transformation announced that the High School Tech Internship program is officially open for the next round of students and businesses to apply to participate, and this includes for the Ohio insurance industry.
The program offers Ohio employers wage reimbursement for hosting high school interns in tech-related roles, helping businesses establish a recruitment pipeline while providing students with valuable work experience at an early age. Interns will perform job duties similar to those of entry-level employees in technology roles, including artificial intelligence, software development, data, IT infrastructure, cybersecurity, broadband/5G, and other tech-focused fields.
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Ohio Department of Insurance Staff Chosen for NAIC Leadership Roles in 2025
Ohio Department of Insurance Director Judith L. French has been named Chair of the National Association of Insurance Commissioners (NAIC) Life Insurance and Annuities Committee, highlighting the selection of staff to 18 NAIC committee and task force roles in 2025. French was also selected for the Financial Condition Committee and Innovation, Cybersecurity, and Technology Committee.
In addition, Chief of Regulatory Affairs Dwight Radel and Chief Property and Casualty Actuary of Product Regulation and Actuarial Services Tom Botsko were appointed Chair of the Examination Oversight Task Force and Vice Chair of the Capital Adequacy Task Force, respectively.
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Agents, Agencies Required to Update Contact Info
Insurance agents and agencies are reminded that Ohio law requires that license holders must update their Ohio license record with any address (including email addresses), phone number, or name change within 30 days of the change occurring.
License holders should update their address and personal contact information through the National Insurance Producer Registry. Name changes must be made directly with the Ohio Department of Insurance.
Since state departments of insurance primarily communicate through email, license holders are urged to review and update their email addresses at least annually.
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Homeowners Insurance: Difference Between Actual Cash Value and Replacement Cost Coverages
Homeowners insurance policies offer varying levels of coverage, which can impact out-of-pocket expenses when filing a claim. It is important for homeowners to understand the difference between actual cash value (ACV) and replacement cost value (RCV) to fully grasp how their policy will respond.
With ACV coverage, the policy will pay to repair or replace property based on its current value, accounting for depreciation due to age and wear. This often results in a payout that may not be enough to fully replace or repair the property. In contrast, RCV coverage reimburses the full cost to repair or replace damaged property using materials of similar kind and quality, without factoring in depreciation, ensuring a more accurate replacement of the damaged items.
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OSHIIP Conducting Statewide Welcome to Medicare Events
The Ohio Senior Health Insurance Information Program (OSHIIP), the state's official Medicare counseling and enrollment assistance program, is holding Welcome to Medicare events in certain counties across the state.
If you will be eligible for Medicare soon and have questions, are helping a friend or family member navigate their Medicare benefits, or are currently on Medicare and have questions or concerns, join OSHIIP, a program of the Ohio Department of Insurance, for this informative, helpful, in-person engagement.
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The 988 Lifeline provides 24/7, free, and confidential support for people in distress, prevention and crisis resources for you or your loved ones, and best practices for professionals in the United States. Text 988 or CHAT WITH THE 988 LIFELINE.
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