Final answer:
An unauthorized insurer can place business in Ohio by partnering with a licensed insurer or by seeking special approval from the Ohio State Insurance Department option (c). They are restricted from conducting business without adhering to state regulations.
Step-by-step explanation:
The correct approach for an unauthorized insurer to place business in Ohio would generally be through option b), partnering with a licensed insurer. Partnering with a licensed insurer would involve a contractual relationship where the authorized company assumes the insurance risk while the unauthorized insurer may provide other services or share in the premiums.
Unauthorized insurers are typically restricted from directly conducting insurance business within a state, such as Ohio, without following the legal and regulatory requirements set by the state's insurance department.
Depending on the type of insurance and the specific circumstances, an unauthorized insurer might also be able to conduct business by seeking special approval from the Ohio State Insurance Department, which could allow them to operate in the market under specific conditions, often involving surplus lines where there is no available coverage from authorized insurers.
Operating without any restrictions (option d) or trying to obtain a temporary permit to bypass the full authorization process (option a) would not be legally permissible ways for an unauthorized insurer to operate in Ohio. Insurance regulations are meant to protect consumers and ensure that all insurers meet financial solvency and compliance standards.