An Inoculation Course for Insurance Company Boards

Financial scandals are littering today's business pages, costing shareholders millions, bringing previously reputable corporations to the brink of bankruptcy and landing executives and Board members in court. Smart companies prepare their Boards to evaluate key financial information and comply with the industry's myriad government regulations.

The Inoculation Course is a good way to engage your Board members in a high-level discussion of these issues and prepare them to make governance decisions that will protect your company.

That is why Rector & Associates, Inc. and CAB Consulting Services, Ltd. developed and conduct the Inoculation Course.

What Attendees Have Said About The Inoculation Course

All participants have rated the program as informative, and most strongly agreed it will help them be better board members.

“It told us what board members should be asking.”

“Content was concise and tailored to our industry.”

“The course was very interactive and practical.”

The course’s outline and 49-page reference book have also received praise for their usefulness.

Content

Designed to be informative for your Board, relevant to your company and interesting to discuss, The Inoculation Course covers topics such as:

• Insurance as a regulated industry in a competitive marketplace
• The role of rating agencies such as A.M. Best
• Key solvency issues
  • Risk-based capital
  • Solvency measures
  • Roles of pricing, investments and liquidity
  • Reinsurance
  • Loss reserves
  • Statutory annual statements
  • Internal and external auditing
• Key regulatory issues
  • Insurance regulation
  • Insurance department organization and accountability
  • Insurance department interactions
  • NAIC's role
  • Holding company systems
  • Regulatory response to insolvency
  • Federal versus state charters.

Presenters

The course presenters are insurance company Board members and senior insurance executives themselves.

With more than 50 years of senior level insurance industry experience between them, they have created a seminar that is thorough, practical, and interesting for Board members of every business background.

Neil Rector is President of Rector & Associates, Inc., an insurance consulting firm that provides clients with legal, accounting, actuarial, operations and regulatory consulting services. Formerly Deputy Director of the Ohio Department of Insurance, he established a national insurance corporate and regulatory practice as an attorney with Vorys, Sater, Seymour and Pease and has conducted performance audits for a majority of state insurance departments as a team leader with the NAIC Accreditation Program. Neil has testified twice before the U.S. Congress about the Accreditation Program. He also has helped institute insurance regulatory practices in China, Brazil, Hungary, Slovenia and Poland.

Chuck Bryan's 30-year insurance career has included serving as Senior Vice President and Chief Actuary for Nationwide Insurance Group, CEO of Direct Response Corporation, partner with Ernst & Young and Chief Financial Officer for USAA Insurance. He is now president of CAB Consulting, LLC, an insurance consulting firm that provides general management, merger and acquisition, actuarial and accounting services to a variety of clients. He also serves on the Boards of Directors of Medical Mutual Insurance Company of Ohio and Safe Auto Insurance Company. Chuck is past president of both the American Academy of Actuaries and the Casualty Actuarial Society.

Investment

The three-hour course is designed to fill a half-day session at a regularly scheduled Board meeting or an appropriate slot on your Board retreat agenda.  In addition to expert instruction, each attendee receives a detailed reference booklet.

Information & Scheduling

For more information or to schedule The Inoculation Course for your Board, call Rector & Associates, Inc. at (614) 224-6200.