Board Governance: Caring For Your Bermuda Captive

If there is one topic that always comes up in major captive conferences, it's the best way to manage your captive now that you've set it up. First-time captive managers are always seeking advice on this area, hanging on every word from speakers on panels on the topic.

Captive governance is vital for a captive and the role of the board of directors is not to be underestimated. A board of governors can provide oversight, be a sounding board and above all keep an eye on the regulatory horizon, something that is vitally important—especially in Bermuda.

At this year's Bermuda Captive Conference there were frequent mentions of the Bermuda Monetary Authority (BMA) and how respected it is. That respect has come from years of decisions and working practices that have constructed an air of authority around the regulator.