HC-1.2.2
Past version: Effective from 01 Jan 2011 to 31 Dec 2019
To view other versions open the versions tab on the right
The Board's role and responsibilities include but are not limited to:
(a) Approving and reviewing at least annually the overall business performance and strategy for the insurance licensee ;
(b) Reviewing regularly the implementation of the strategy and operational performance;
(c) Causing financial statements to be prepared which accurately disclose the insurance licensee's financial position;
(d) Monitoring management performance;
(e) Reviewing regularly the level of risk;
(f) Approving and reviewing at least annually systems and controls framework (including policies and procedures);
(g) Convening and preparing the agenda for shareholder meetings;
(h) Monitoring conflicts of interest and preventing abusive related party transactions;
(i) Assuring equitable treatment of shareholders including minority shareholders; and
(j) Setting out clearly and reviewing on a regular basis who has authority to enter the licensee into contractual obligations.
January 2011