Charter Partners Risk Inspection Policy

As a respected member, partner, or risk expert of the Charter Partners community insurance program, I understand the importance of adhering to the Risk Inspection Policy and agree to uphold equal standards across the captive for all current and future members and partners.

Risk Inspection Standards for Members

Members of Charter Partners will take part in an on-site visit by an assigned Risk Manager under the following circumstances and complete the Captive Risk Assessment including: applicable coverage evaluations (GL, Fleet, etc.), loss prevention, accident investigations and trends, injury rates, and safety culture.

1. New Members

   1. Newly added members of Charter Partners within one year of the policy effective date.
      
      

2. Current Member Assessment (2 Year Cycle)

   1. Current members of Charter Partners will receive an on-site visit every two years after their first year.
      
      

3.  Incident Assessment

   1. Members that experience the following will receive an on-site visit:

      1. A severe catastrophic incident

      2. A loss ratio exceeding 40% within one year

      3. Over (2) at-fault incidents similar in nature that have not been addressed with improved safety practices and implementation

      4. A Captive Risk Assessment score below 85% without an identifiable plan for improvement and implementation.
         
         

   2. Should members experience a loss ratio exceeding 40% within one year or over

   3.  (2) at-fault incidents similar in nature, they may be subject to a committee review based on the Performance Policy.