Most captives hold board meetings twice each year to set direction for the coming months and years. Typically these meetings approve renewal terms and conditions, financial statements, watchlist conditions and set overall growth and strategic direction for the captive.
It has always been CRI’s view that its captives should be owned and run solely by their members, which supports the central captive purpose of providing the members control. Captives are run by the member-owners, not by CRI, any service provider(s) or external third party. Each member has one seat on the Board of Directors and one vote which is cast at the semi-annual Board meetings, where a simple majority governs. Members find this an attractive feature, since each one, regardless of premium size, has the same voice.
In addition, a strong committee structure allows for even greater individual participation by members according to their specific interest or personal expertise. Captives typically have Underwriting, Finance & Investment, Risk Control, and Membership Development committees that bring their recommendations to the Board for review and discussion by the entire membership.
Click here to register for an upcoming Board meeting. You will need the user name and password provided by Captive Resources for the specific event you wish to attend.