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Captive Board Governance

Registration Deadline: November 9, 2016 | Class: November 16, 2016 @ 2:30 pm - 3:45 pm

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Event Series Event Series: Captive Board Governance


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

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

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

Registration Deadline: November 9, 2016

Webconference one, Wednesday, November 16th, 2:30 – 3:45 pm EST
Webconference two, Wednesday, November 30th, 2:30 – 3:45 pm EST
Webconference three, Wednesday, December 7th, 2:30 – 3:45 pm EST
Office Hour, Wednesday, December 14th, 2:30 – 3:30 pm EST

The next offering of this course will be Fall 2017.

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

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