The superintendent of insurance may exempt any domestic health insuring corporation from the application of sections 1753.31 to 1753.43 of the Revised Code, if the health insuring corporation meets all of the following requirements:
(A) The health insuring corporation writes direct business in this state only.
(B) The health insuring corporation assumes no reinsurance in excess of five per cent of direct premium written.
(C) The health insuring corporation either:
(1) Writes direct annual premiums of two million dollars or less for basic health care services;
(2) Covers less than two thousand enrollees under policies, contracts, certificates, or agreements for supplemental health care services.