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Organization and Governance
The National Catholic Risk Retention Group, Inc. (National Catholic) was incorporated on August 12, 1987, licensed as a Vermont domiciled insurer on October 2, 1987 and issued its first policies on June 30, 1988.
We operate as a stock insurance company, with eligible shareholders comprised of Catholic archdioceses, dioceses, religious institutes, Catholic risk pooling trusts and Catholic entities listed or eligible for listing in The Official Catholic Directory published by P. J. Kenedy & Sons. Each shareholder receives one voting (Class A) share and the appropriate number of non-voting (Class B) shares to provide ownership interest in proportion to the amount of capital contributed and the amount of premium paid by the shareholder or insured.
In addition, we provide excess liability coverage operating as a liability Risk Retention Group insurer enabled and authorized by the federal Liability Risk Retention Act of 1986.
National Catholic is a 501 (c) (3) nonprofit, tax exempt organization, with its own Private Letter ruling from the IRS and is listed in The Official Catholic Directory Published by P. J. Kenedy & Sons. The Internal Revenue Service also has ruled that National Catholic is a public charity under Section 509 (a) (3) of the code and not a private foundation.
We are governed by an eleven-person Board of Directors, comprised exclusively by individuals employed by shareholder Catholic institutions. Our President & CEO also sits on the Board ex officio. Directors are elected by shareholders for an initial three-year term.
In addition, we maintain five standing committees to regularly review various aspects of our operations and to submit recommendations for Board consideration. These committees are:
- Executive
- Audit
- Investments
- Nominations
- Stakeholder Relations and Strategic Initiatives
Our full-time President & CEO and his staff of 14 insurance and risk management professionals supervise and conduct National Catholic operations. |
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