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Frequently Asked Questions

How often does the policy and Procedures Manual need to be updated?

The Policy and Procedures Manual will be altered, added to, and adjusted whenever the need arises. A complete and thorough review will be conducted at least annually. Any significant alterations and additions will be communicated to all involved personnel when changes occur.

What is the purpose of the insurance manual?

The purpose of this manual is to give you an understanding of the insurance coverage provided and the information you need to properly report all actual and potential Crime/Embezzlement, Directors’ & Officers’ Liability, Employment Practices Liability, General Liability, Property, and Workers’ Compensation claims with which you may become involved.

What are the regulations for insureinsurance?

Insurance companies’ ability to pay the claims of policyholders. Regulations to promote solvency include minimum capital and surplus requirements, statutory accounting conventions, limits to insur- ance company investment and corporate activities, financial ratio tests and financial data disclosure. SOLVENCY II

Where can I find the IAII insurance handbook?

I.I.I. Insurance Handbook www.iii.org/insurancehandbook 27 These Topics are adapted from papers regularly updated at www.iii.org/issues_updates.


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