(A) As used in the Revised Code, “insurance rating agency” means A.M. Best Rating Services, Inc., Demotech, Inc., or a rating agency certified or approved by a national entity that engages in an approval process that includes all of the following:

(1) A requirement for the rating agency to register and provide an annual updated filing;

(2) Record retention requirements;

(3) Financial reporting requirements;

(4) Policies for the prevention of misuse of material, nonpublic information;

(5) Management of conflicts of interest, including prohibited conflicts;

(6) Prohibited acts and practices;

(7) Disclosure requirements;

(8) Required policies, practices, and internal controls;

(9) Standards of training, experience, and competence for credit analysts.

(B) Any reference in the Revised Code to an entity named in division (A) of this section shall be construed as a reference to any insurance rating agency as defined in division (A) of this section. Any reference in the Revised Code to a specific entity not named in division (A) of this section but otherwise meeting the definition of “insurance rating agency” in division (A) of this section shall be construed as a reference to an insurance rating agency as defined by division (A) of this section.