An online education series on business ethics for captive insurance operations will begin next month, two organizations announced today.

The three Web conferences are being put on by the Risk and Insurance Management Society Inc. in partnership with the International Center for Captive Insurance Education (ICCIE).

Titled “Business Ethics in the Captive Insurance Industry,” the series has been designed to teach risk managers about the legal and ethical issues related to business practices in the captive insurance industry, organizers said.

The first conference in the series will take place Nov. 28, followed by Web conferences on Dec. 11 and Dec. 14, 2:30-3:45 pm EST.

Mitch Cantor, executive director of ICCIE, said: “Corporate ethics is an important issue for business leaders, especially in light of increased regulatory guidelines and high-profile scandals such as Enron. This course examines the impact on the captive insurance market. RIMS recognizes the importance of this topic and aims to share it with its members.”

The conference audience will learn by exploring scenarios and case studies presented as well as corresponding reading materials, its producers said.

RIMS said participants will be taught a variety of topics, including how to effectively identify areas in the captive industry with potential ethical conflicts; how to examine ethical and unethical responses to these situations; and how to identify best practices for dealing with questionable procedures.

They will also learn about tools that may be used to assess personal values for corporate staff and the impact of the federal Sarbanes-Oxley Act on ethical practices in the captive industry.

The seminars will examine the roles and responsibilities of the chief executive officer, board of directors, audit committee, outside service providers, actuary and legal group in this new environment, RIMS said.

Facilitating discussions on the program are Dan Labrie, president and chief executive officer of Housing Authority Insurance Group, and Kathy Davis, deputy managing partner and chief operating officer of Downs Rachlin Martin PLLC.

The Web courses offer credit toward a RIMS Fellow (RF) designation, the professional development credential granted by RIMS for the experienced risk professional.

The International Center for Captive Insurance Education, created by the Vermont Captive Insurance Association (VCIA) in 2001, is the first and only comprehensive captive insurance education program in North America. Registration for the course is open online at http://www.RIMS.org/onlinecourses. The registration deadline is Nov. 21. Registration rates are $550 for RIMS members and $650 for nonmembers.

Special Reports /

RIMS Sets Web Confab On Captive Ethics

Related Stories

Recommended For You