Insurance Accounting and Systems

“Effective october 11, 2023, the american institute for chartered property casualty underwriters ("the institutes") and the insurance accounting and systems association inc. Entered into an affiliation agreement and a shared resources agreement ("sra"). The institutes provides management and administrative services to the insurance accounting and systems association inc. In accordance with written bylaws, operating guidelines and procedures, budget, and provides certain services as prescribed by the sra.”

“There shall be 6 (six) classes of iasa individual professional membership: affiliate - us and canada, affiliate - international, corporate, early career, student and emeritus. There shall be 3 (three) classes each for solution-providers and for insurance carriers. Declaration of membership class shall be made by the individual, confirming that they spend 51% or more of their time in their designated membership class.”

“The insurance accounting and systems association inc.'s institutional member, the institutes, appoints the directors of the insurance accounting and systems association inc. And approves any extraordinary activities (mergers, dissolutions, etc.). Professional members have no rights.”

“The form 990 is prepared by a third-party accounting firm and reviewed by management. The form 990 was provided to the audit and organization and compensation committees of the board of directors for review and approval before filing.”

“The conflict of interest policy is distributed to all officers, directors, and key employees ("covered officials") on an annual basis. Each covered official must complete an annual conflict of interest statement of disclosure. If a conflict is identified, it is evaluated and may be approved if it is determined to be just, fair, and reasonable to the organization. If it is determined that the conflict is not just, fair, and reasonable to the organization, appropriate action is taken to eliminate the conflict, which can include asking the individual to end a conflicting business arrangement, return remuneration to the organization, or otherwise discontinue the arrangement causing the conflict.”

“This organizataion is an affiliate of the american institute for chartered property casualty underwriters ("the institutes"). Compensation arrangements involving any of the organization's officers and/or key employees are established by the institutes pursuant to a process that satisfies the rebuttable presumption procedure available for irc section 4958 excess benefit transaction tax purposes, which requires a review of compensation determinations by disinterested persons, use of appropriate comparability data, and contemporaneous documentation of the process.”

“The organization's governing documents, conflict of interest and financial statements are available upon request.”