Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| DESCRIPTION OF CLASSES OF MEMBERS OR STOCKHOLDERS | Form 990, Part VI, Question 6 | There are 3 classes of membership as follows: a) Regular Members, whose membership is granted upon application and approval by the PCI Board of Governors to all companies doing business in the USA which are engaged in writing property, casualty, or surety insurance; b) International Associate Members, whose membership is granted upon application and approval by the PCI Board of Governors to all property, casualty, or surety companies which are not organized or licensed to write insurance in the USA; c) Reinsurer Members, whose membership may be granted upon application and approval by the PCI Board of Governors to companies authorized and/or approved in the USA to provide reinsurance to companies writing property, casualty, or surety insurance upon such terms and conditions as are established by the PCI Board of Governors; d) Notwithstanding the above, a company that is part of a group in which at least (i) one company is a PCI member; and (ii) fifty-one percent of the property-casualty premium of the group is written by existing PCI member companies, may be accepted as a member of PCI without the approval of the Board of Governors, in the same category of membership as the other companies in the group; e) Notwithstanding the above, all companies that were members in good standing of AAI or NAII immediately prior to the date on which such organizations merged with and into PCI, shall automatically be members of PCI in the category of membership that most closely reflects the category of membership held by such company prior to the merger, without further action by the PCI Board of Governors. Description of Classes of Persons and the Nature of Their Rights Form 990, Part VI, Question 7a Regular members shall be entitled to serve on committees, on the Board of Governors, and to vote in all matters coming before the membership, provided, however, that in the event two or more regular members belong to the same company group, only one such regular member shall be entitled to vote at any PCI meeting, including but not limited to, any Board, Committee, or Task Force meeting. International Associate Members shall not be entitled to serve on any committee or on the Board of Governors and shall not have the right to vote on any matter coming before the membership. Reinsurance members shall not be entitled to serve on the Board of Governors and shall not have the right to vote on any matters coming before the membership but may serve on committees established under Article XI, Section 4 of the Articles, and may have the same voting rights on committee matters as other members of such committees. THE PROCESS USED BY MANAGEMENT &/OR GOVERNING BODY TO REVIEW 990 FORM 990, PART VI, QUESTION 11 THE 2010 990 WAS REVIEWED FOR ACCURACY BY THE SENIOR VP FINANCE AND ADMINISTRATION AFTER THE RETURN WAS REVIEWED BY ERNST & YOUNG. |
| Description of Process to Monitor Transactions for Conflicts of Interest | Form 990, Part VI, Question 12c | The Conflicts of Interest policy is a section of the PCI Code of Conduct, which is circulated to all employees annually and includes a written acknowledgement that the employee has read the code, which is required to be signed and returned to the employee's personnel file. THERE IS AN ONLINE TEST THAT MUST BE COMPLETED AND PASSED. LEGAL MONITORS COMPLIANCE WITH THE POLICY. |
| Offices & Positions for Which Process was Used, & Year Process was Begun | Form 990, Part VI, Question 15a | The process for determining the compensation of the Chief Executive Officer included a review and approval by the Board Executive Committee, and an independent market study of the compensation package versus that of data for comparable positions. |
| Offices & Positions for Which Process was Used, & Year Process was Begun | Form 990, Part VI, Question 15b | The process for determining the compensation of other senior officers and key employees includes a review and approval by the Benefits & Compensation Committee, and an independent market study of the compensation packages versus that of data for comparable positions. |
| Avail of Gov Docs, Conflict of Interest Policy, & Fin Stmts to Gen Public | Form 990, Part VI, Question 19 | PCI does not make its governing documents or conflict of interest policy available to the public. The Form 990 and the Financial statements are available upon request. |
| OTHER CHANGES IN NET ASSETS | FORM 990, PART XI, LINE 5 | UNREALIZED GAIN ON INVESTMENTS $1,384,724 LOSS FROM ISS (430,307) DECREASE IN OTHER ACCUMULATED LOSS (1,633,469) TOTAL OTHER CHANGES IN NET ASSETS (679,052) |
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