Responsibilities

The company requires that each shareholder also appoint a director to the NCI Board of Directors. Every shareholder, regardless of premium size, has one vote. A simple majority governs. NCI shareholder responsibilities include controlling losses, participating in Board meetings, and educating other high quality construction businesses about the captive concept. Management strength lies in a strong committee structure and the individual involvement of all directors during frequent meetings held both in the Cayman Islands and other locations outside the United States.

Presently, the committees and their primary responsibilities are:

1. Executive - Comprised of officers, committee chairpersons and designated members at large. Focus is to develop long-range plans for the company based on strategic analysis.
2. Finance - Reviews the company’s interim and audited financial statements and monitors each member’s compliance with its financial obligations to the company. Also advises the Board on policies for the investment of the company’s assets.
3. Underwriting - Advises the Board on desirable risks to be assumed and ensures that these risks are adequately underwritten.
4. Membership Development - Monitors the progression of growth goals established by the company and reports results to the Board.
5. Risk Control - Sets loss control goals for the members. Reviews loss control reports and works with members to meet the required loss control and claims management goals of NCI.
6. Nominating - Recommends future officers and committee chairpersons for two-year terms, to the Board of Directors.