We provide a review and opinion on the recent Strategic Risk Solutions (SRS) captive corporate governance survey. We note where captives are falling short of best practices and also offer some thoughts for how captive insurers might improve.
Does your captive suffer from bad directors? What are the key characteristics of a bad director, and how do you address the issue? In this article, we look at the four attributes described in the National Association of Corporate Directors article "A Field Guide to Bad Directors" and how they relate to the captive insurance industry.
Does your captive board practice strategic visioning or generative thinking as part of its normal meeting? Do you have trouble identifying topics to use in these discussions? Here are 3 thoughts that might warrant further exploration by your board and management team as part of this process.