Affiliate Risk Captive

On July 1, 2016, Public Risk Innovation, Solutions, and Management (PRISM) launched a captive insurance company, Affiliate Risk Captive (ARC).  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.  ARC is a pure captive, meaning it is 100% owned by PRISM 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 PRISM and its members as a whole. 

Mission Statement

ARC acts only in the best interest and for the benefit of PRISM and/or its members.  

News

Wed / Oct 18

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

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.

Read More   

Goals

ARC has been established to provide both short and long term objectives for PRISM 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

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

Gina Dean

President and CEO

Scott Schimke

Vice President

Nathan Black

Treasurer

Lorin Barker

Secretary

Lance Sposito

Board Member

Brian Kelley

PRISM COO

Michael Fleming

Retired/Outside Individual

Documents

Like its parent company, ARC 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 PRISM to have full knowledge of the activities of ARC, and as such, PRISM staff will provide full disclosure to its members and the public.

Name Category Type Date
Investment Report 2021 Qtr Ending 09-30 Financial pdf Oct 18, 2021
ARC Member Meeting Agenda - October 18, 2021 Agendas pdf Oct 15, 2021
ARC Board of Directors Agenda - October 18, 2021 Agendas pdf Oct 15, 2021
Investment Report 2021 Qtr Ending 06-30 Financial pdf Jul 16, 2021
ARC Board of Directors Meeting Summary - June 30, 2021 General pdf Jun 30, 2021
ARC Board of Directors Agenda - June 30, 2021 Agendas pdf Jun 25, 2021
Investment Report 2021 Qtr Ending 03-31 Financial pdf Apr 22, 2021
Investment Report 2020 Qtr Ending 12-31 Financial pdf Feb 18, 2021
2020 EIO Communications with Those Charged with Governance Financial pdf Dec 10, 2020
2020 EIO Internal Control Letter Financial pdf Dec 10, 2020
2020 EIO Auditor Opinion Letter Financial pdf Dec 10, 2020
EIO Audit Report FY 2020-19 Financial pdf Dec 10, 2020
Investment Report 2020 Qtr Ending 09-30 Financial pdf Dec 10, 2020
Investment Report 2020 Qtr Ending 06-30 Financial pdf Dec 10, 2020
EIO Board of Directors Agenda - October 12, 2020 Agendas pdf Oct 09, 2020
Investment Report 2020 Qtr Ending 3-31 Financial pdf May 19, 2020
Investment Report 2019 Qtr Ending 3-31 Financial pdf Jan 27, 2020
Investment Report 2019 Qtr Ending 9-30 Financial pdf Jan 27, 2020
Investment Report 2019 Qtr Ending 6-30 Financial pdf Jan 27, 2020
Investment Report 2019 Qtr Ending 12-31 Financial pdf Jan 27, 2020
Investment Report 2017 Qtr Ending 3-31 Financial pdf Jan 27, 2020
Investment Report 2016 Qtr Ending 12-31 Financial pdf Jan 27, 2020
EIO Audit Report 2018-19 Financial pdf Dec 12, 2019
2019 EIO Internal Control Letter Financial pdf Dec 12, 2019
2019 Auditor Opinion Letter Financial pdf Dec 12, 2019
2019 Communications with those Charged with Governance Financial pdf Dec 12, 2019
EIO Board of Directors Meeting Summary - October 17, 2019 General pdf Dec 02, 2019
EIO Board of Directors Agenda - October 17, 2019 Agendas pdf Dec 02, 2019
Investment Report 2018 Qtr Ending 12-31 Financial pdf Feb 19, 2019
Investment Report 2018 Qtr Ending 9-30 Financial pdf Feb 19, 2019
Investment Report 2018 Qtr Ending 6-30 Financial pdf Feb 19, 2019
Investment Report 2018 Qtr Ending 3-31 Financial pdf Jan 27, 2020
2018 EIA Internal Control Letter Financial pdf Dec 12, 2019
EIO Travel Expense Reimbursement Form 2019 Travel Reimbursement pdf Jan 17, 2019
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 2017 Qtr Ending 12-31 Financial pdf Jan 27, 2020
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 2016 Qtr Ending 9-30 Financial pdf Jan 31, 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
Certificate of Authority General pdf Jul 21, 2017
Certificate of Public Good General pdf Jul 21, 2017
Investment Policy General pdf Nov 03, 2021
Resolutions of EIO General pdf Jul 21, 2017
Business Plan General pdf Jul 21, 2017
EIA Board of Directors Resolution General pdf Jul 21, 2017
EIO Stock Certificate General pdf Jul 21, 2017

Contact

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