The Board of Bar Mutual has established a number of standing Committees as follows:
The Audit & Risk Committee oversees the financial reporting process, Bar Mutual’s systems of internal controls and its compliance with applicable regulations.
The Claims Committee provides guidance to the Managers on claims-related issues and exercises Bar Mutual’s discretion on the provision of cover.
The Investment Committee recommends the investment policy Bar Mutual should adopt and monitors the performance of the Investment Managers.
The Legal Services Act Committee considers applications for insurance by bodies authorised or licensed by the Bar Standards Board.
The Management Fee and Oversight Committee has oversight of the performance of Thomas Miller Professional Indemnity Limited (“the Managers”).
The Nominations Committee advises the Board on its compliance with Bar Mutual’s Fit and Proper Policy and recommends the appointment of Directors to the Board.
The Rating and Reinsurance Committee reviews annually the rates charged to individual practice areas and is also responsible for the oversight of Bar Mutual’s reinsurance programme.
The Reserves Committee reviews Bar Mutual’s claim reserves, capital resources policy and regulatory capital position.
The Rules and Cover Committee reviews the basis on which Bar Mutual provides insurance cover to Members.
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