The managers
The managers form the principal contact between SIMIA and its Members. The current contractual basis for that delegation is set out in the terms of a Management Agreement. The managers are remunerated by an annual, fixed management fee. Pursuant to the terms of the Management Agreement, the managers provide services to SIMIA in the following principal areas:
- Underwriting
- Claims
- Finance
- Regulatory
- IT and other back office functions
The managers maintain formal contact with the board by attending all board and committee meetings. This contact provides the managers with the opportunity to provide advice and guidance to the board on issues of strategy and policy; and the board the opportunity to ensure that the managers are informed of and implement the policies decided by the board. The managers also maintain contact with the Chairman of SIMIA and other directors on an ad hoc basis outside board and committee meetings. The managers attend all committee meetings unless expressly requested to absent themselves.









