IEEE INSURANCE COMMITTEE
CHARTER
Contents
I. Administration
II. Duties & Responsibilities
III. Rotation Plan
IEEE INSURANCE COMMITTEE
CHARTER
I. ADMINISTRATION
A. Bylaw 305.13 establishes an Insurance Committee responsible to the Board of Directors with the duties & responsibilities outlined in Section II.
B. The Treasurer, as a member of the Insurance Committee, is authorized to refer any action to the Board of Directors for approval prior to implementation, as the Treasurer deems necessary.
C. The IEEE Insurance Committee shall consist of the IEEE Treasurer, Chair of the MGA Individual Benefits and Services Committee, Chair of the Employee Benefits and Compensation Committee, and from three to five additional members-at-large. The Chair and members-at-large shall be appointed by the Board of Directors on the recommendation of the Treasurer. The Secretary of the Committee shall be designated by the Staff Director, Financial Services.
In view of the expertise required, non-members of IEEE shall be eligible for appointment as voting members of this Committee. For re-appointment it is necessary for members-at-large to be able to demonstrate currency in insurance or risk-management activities. To demonstrate currency, individuals must be either employed in an insurance or risk-management environment, or demonstrate an active interest or professional involvement in insurance or risk management. The decision as to whether a member can demonstrate currency will be determined by the Insurance Committee, and approved by the Board of Directors.
The Insurance Committee shall meet and act pursuant to such rules as it shall determine. The Board of Directors shall periodically review the operation of the Insurance Committee and shall require such notices and reports from the Insurance Committee as the Board of Directors determines may be required to permit such a review.
II. DUTIES & RESPONSIBILITIES
A. To provide guidance and counsel on insurance related matters to the Institute, the IEEE MGA Individual Benefits and Services Committee (IB&SC), and the IEEE Employee Benefits and Compensation Committee (EBCC).
B. To review and evaluate the adequacy and suitability of the Institute's Corporate Insurance Program, and advise the Board of Directors and Staff on same.
C. To review and evaluate insurance-related products and services that may be offered to IEEE Members and / or Staff, and make recommendations to the IB&SC and EBCC as appropriate.
III. ROTATION PLAN FOR MEMBERS-AT-LARGE AND CHAIR
Members-at-large are defined as members who possess expertise in insurance-related matters. The Chair will recommend the appointment of the members-at-large to the Treasurer, who will then obtain the Board of Directors’ approval.
A. Members-at-Large
Members-at-large of the Insurance Committee shall be appointed for an initial one-year term, with the possibility for re-appointment for 2 additional three-year terms, for a maximum of seven years of service. When deemed in the best interest of the Institute, the Board of Directors may re-appoint a member-at-large for an additional three-year term. The maximum years of service on the Insurance Committee shall be 10 years.
B. Chair
The Chair of the Insurance Committee should be appointed for an initial one-year term, with the possibility for re-appointment for up to four additional one-year terms.
IEEE Bylaw I-305.13
Insurance Committee. The Insurance Committee shall be appointed by and shall report to the Board of Directors. The IEEE Insurance Committee shall advise and assist the Board of Directors on matters relating to IEEE corporate insurance programs. The Insurance Committee shall advise and assist the Individual Benefits and Services Committee on matters relating to IEEE member insurance programs. The Insurance Committee shall act pursuant to such rules as it shall determine. The Board of Directors shall periodically review the operation of the Insurance Committee and shall require such notices and reports from the Insurance Committee as the Board of Directors determines may be required to permit such a review.
Membership. The IEEE Insurance Committee shall consist of not more than eight members who shall be the IEEE Treasurer; Chairs of the MGA Individual Benefits and Services Committee and IEEE Employee Benefits and Compensation Committee; and three to five additional members-at-large. The Chair of the Insurance Committee and members-at-large shall be appointed by the Board of Directors on the recommendation of the Treasurer. In view of the expertise required, non-members of IEEE shall be eligible for appointment as voting members of this Committee.
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