5 CPE credits are available for the the successful completion of this course.

Cost for non-designation students and ACI graduates – $750

This three session elective course examines corporate governance from the perspective of the board of directors of captives and risk retention groups. The duties and roles of members of captives and risk retention boards are increasing with greater responsibility and liability being placed on the board. Students including those considering becoming a board member, those already on boards as well as those recently approved as a board member by regulators will learn the duties, responsibilities and rights of a corporate director, board structure, operations, interaction with management and counsel and committee structure and involvement. During the course they will gain an understanding of the role of an independent board member, board oversight activities, qualifications for board service, directors and officer’s liability issues, ethical considerations, applicable federal laws, personal liability and indemnification. Special emphasis will be given to traditional material for the interest of those who might be serving on an insurance company board for the first time.

Students through interaction and working together with other students who are experienced captive, attorneys, accountants, regulators and other service providers will have the opportunity to learn from each other and how these other service providers service the captive and also are a resource for board members.

Using a series of board operation case studies involving real life situations, participants will engage with their peers and instructors to determine the board best practices. Students will also gain an understanding of onshore and offshore best practices in corporate governance relating to captives and RRGs. Further items covered in this course include,

  • Insurance concepts board members should know and understand
  • History of insurance regulation
  • History of captives & RRG regulation
  • NAIC Structure and Operation
  • NAIC Corporate Governance Working Group
  • NAIC RRG Corporate Governance Working Group
  • Auditor Independence Qualifications
  • Corporate Governance Board Audit Committee
  • Solvency II Increased Corporate Governance for Insurers
  • Board of Directors Duties and Roles in Off Shore Captives – Cayman and Bermuda Focus


Online Course

In addition to self-paced reading and assignment work, students will be required to attend three webconference sessions and complete two weeks of follow up assignments.

This course will be offered again in Fall 2023

Registration Deadline:  

Webconference one,
Webconference two,
Webconference three,
Office Hour, TBA,  from 12:00 noon – 1:00 p.m. ET

For further details please contact at ICCIE at 802-651-9050.

The International Center for Captive Insurance Education (ICCIE) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

In accordance with the standards of the National Registry of CPE Sponsors, CPE credits have been granted based on a 50-minute hour.