The proposed bill, known as the Auto Insurance Transparency Act, aims to amend section 1345.81 and enact new sections 3937.51 to 3937.54 of the Revised Code. Key provisions include requiring insurers and repair facilities to provide clear disclosures regarding the use of aftermarket motor vehicle parts, allowing consumers to choose original equipment manufacturer (OEM) parts even if not fully covered by their insurance, and mandating that any non-OEM aftermarket replacement parts be clearly identified in repair estimates. The bill also establishes that insurers must offer coverage for OEM parts and outlines the penalties for violations of these provisions.

Significant changes in the bill include the redefinition of terms related to aftermarket parts, such as replacing "crash" with "replacement" in the context of parts, and the introduction of new definitions for OEM parts and coverage. Additionally, the bill stipulates that any violation of the new requirements by insurers will be considered an unfair and deceptive act in the insurance business, subject to disciplinary action. The existing section 1345.81 is repealed, consolidating the new regulations under the newly created sections.

Statutes affected:
As Introduced: 1345.81