Member Responsibilities

Every shareholder, regardless of premium size, has one vote. A simple majority of the Board of Directors, which is exclusively made up of the owner/distributors, governs on matters submitted to the Board. Management strength lies in a strong committee structure and the individual involvement of directors during meetings held both in the Cayman Islands and other locations outside the United States.

Presently, the committees and their primary responsibilities are:

  1. Executive - Comprised of the Board of Directors and Committee Chairpersons. Focus is on developing long-range plans for the company based on strategic analysis.
  2. Finance - Reviews the company’s interim and audited financial statements and monitors each member’s compliance with its financial obligations to the company. Also advises the Board on policies for the investment of the company’s assets.
  3. Membership Development - Develops new strategies for membership growth. Also assists in educating prospective candidates and existing members on the benefits of ownership. Advises the Board on desirable risks to be assumed and ensures that these risks are adequately underwritten.
  4. Risk Control - Sets loss control goals for the members. Reviews loss control reports and works with members to meet the required loss control and claims management goals of EDIC.
  5. Nominating - Recommends to the Board of Directors future officers and committee chairpersons for a two-year term.