The Board should appoint senior management whose authority must include management and operation of current activities of the insurance consultants, insurance managers, insurance aggregators and captive insurance firms, reporting to and under the direction of the Board. The senior managers should include at a minimum:
(a) A CEO;
(b) A chief financial officer;
(c) A corporate secretary; and
(d) An internal auditor (see AU-1.2)
and should also include such other approved persons as the Board considers appropriate and as a minimum must include persons occupying controlled functions as outlined in Paragraph AU-1.2.2.
Amended: October 2019
January 2011