Excess Insurance Organization, Inc., Captive

On July 1, 2016, the CSAC Excess Insurance Authority (EIA) launched a captive insurance company, Excess Insurance Organization, Inc. (EIO). The formation was over a year in the making, having been the discussion at strategic planning, committee, and Board meetings over the past several years. EIO is a pure captive, meaning it is 100% owned by the CSAC Excess Insurance Authority (EIA) and will only take on the risk of its parent organization. The Captive will insure coverage program specific corridor risks; conceptually, a 100% transfer of risk at certain layers, much as the coverage program would cede this risk to a reinsurer. The transfer of risk offers short term gains to the ceding program, and long term gains to the EIA and its members as a whole.

Mission Statement

The EIO acts only in the best interest and for the benefit of the EIA and/or its members.

News

Wed / Oct 18
Summary of EIO Strategic Planning Meeting October 15, 2017

At the Strategic Planning session held on Sunday, October 15, 2017, the EIO Board created a mission statement and discussed other EIO goals.

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Mon / Feb 13
EIA Forms Captive - Excess Insurance Organization, Inc.

The CSAC Excess Insurance Authority (EIA) has formed a captive insurance company, Excess Insurance Organization, Inc. (EIO) which began operations July 1, 2016. The formation was over a year in the making, and has been established to provide both short and long term objectives for the EIA.

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Goals

The EIO has been established to provide both short and long term objectives for the EIA including:

  1. A complete risk transfer of corridor risk from various coverage programs to the Captive
  2. An enhanced investment program governed by its own board and investment policies with the goal of additional investment income
  3. A superior risk transfer mechanism when multiple programs’ risk are comingled

Governance

The EIO is governed by a Board of Directors.  The Board is made up of current EIA Board, Committee, and staff members along with EIA General Counsel and Utah Counsel, and they are:

Michael Fleming

President and CEO

Scott Schimke

Vice President

Darrel Pyle

Treasurer

Lorin Barker

Secretary

Lance Sposito

Board Member

Steve Underwood

General Counsel

Gina Dean

COO

Documents

Like its parent company, the EIO strives to operate in a manner that is transparent.  Although captive insurance companies are not subject to regulations such as the Brown Act, it is important to the members of the EIA to have full knowledge of the activities of the EIO, and as such, EIA staff will provide full disclosure to its members and the public.

Name Category Type Date
EIO Travel Expense Reimbursement Form 2019 Travel Reimbursement pdf Jan 17, 2019
2018 EIA Internal Control Letter Financial pdf Dec 17, 2018
2018 Auditor Opinion Letter Financial pdf Dec 17, 2018
2018 Communications with those Charged with Governance Financial pdf Dec 17, 2018
EIO Audit Report 2017-18 Financial pdf Dec 14, 2018
EIO Board of Directors Meeting Summary - October 15, 2018 General pdf Oct 16, 2018
EIO Board of Directors Agenda - June 29, 2018 Agendas pdf Jun 27, 2018
Investment Report 2018 Qtr Ending 3-31 Financial pdf Jun 26, 2018
Investment Report 2017 Qtr Ending 12-31 Financial pdf Jan 31, 2018
Investment Report 2017 Qtr Ending 9-30 Financial pdf Jan 31, 2018
Investment Report 2017 Qtr Ending 6-30 Financial pdf Jun 26, 2018
Investment Report 2017 Qtr Ending 3-31 Financial pdf Jun 26, 2018
Investment Report 2016 Qtr Ending 12-31 Financial pdf Jul 21, 2017
Investment Report 2016 Qtr Ending 9-30 Financial pdf Jan 31, 2018
EIO Travel Expense Reimbursement Form 2018 Travel Reimbursement pdf Mar 19, 2018
EIO Audit Report 2016-17 Financial pdf Dec 20, 2017
EIO Board of Directors Agenda - October 16, 2017 Agendas pdf Oct 11, 2017
EIO Travel Policy 2017-2018 Travel Reimbursement pdf Jul 21, 2017
Articles of Incorporation General pdf Jul 21, 2017
Bylaws of EIO General pdf Jul 21, 2017

Contact

You can also reach us by calling 916-850-7300. Thanks!