Structure and Member Obligations
The company is licensed and managed in the Cayman Islands
to reinsure risks from the issuing insurance company, which
is licensed to provide coverage in the United States. Hartford
Insurance currently assumes that role.
The types of coverage provided by Archway are:
- Worker Compensation in all states
- Automobile Liability including Physical Damage
- General Liability
The company insures only businesses that are directly
linked to a shareholder.
Each shareholder appoints a director, whose function is
to attend the Board meetings and vote on all issues and
resolutions. Each shareholder, regardless of size, buys one
share of stock and has one vote. Archway shareholder
responsibilities include controlling losses, participating
in Board meetings, and educating other high quality
companies about the captive concept.
The Board elects officers for a two-year term: President,
Vice President, Secretary and Treasurer/Finance Committee
Chairman. There are currently four operating committees:
Risk Control, Finance, Underwriting and Membership
Development. The Committees meet before the Board Meeting
and present resolutions or motions to the full Board for
action. There are two board meetings each year at which
updated financial data, investment returns, and loss control
statistics are presented. The strength of Archway lies in
active participation by all shareholders as committee
members and officers. |
