What is the Board’s Job? Directors have a duty to exercise due diligence in overseeing the activities of the Company. They are required to act in ’good faith’ and in the best interest of the Company. Each Board member is responsible for providing governance to the Company, insuring its financial well–being, representing the Company to the community, and accepting ultimate legal authority for it. To fulfil these responsibilities, Board members must: Regularly attend board meetings and important related meetings; Actively participate in committee work; Willingly accept assignments and complete them thoroughly and on time; Stay informed about Board matters, prepare well for meetings, and review and comment on minutes and reports; Get to know other Board members and build a collegial working relationship that contributes to consensus; Actively participate in Board’s annual evaluation and planning efforts.
Board of Directors
Bo ar d  of  Di r ec t o r s   4.1.   T he  b oa r d s h al l  c on s i s t  of  th at n um be r  of  di r ec tors , b ei ng   a m i ni m u m  o f  s ev en   ( 7) and   a m ax i m u m  of  ten  ( 10 ) ,  as  i s   f i x ed   b y   the   di r ec tors  f r o m  ti m e t o t i m e.   4.2.   T he  p ers on  a pp o i nt ed  f r om  ti m e t o t i m e b y  th e B oa r d t o s erv e a s   t he  pres i de nt  an d c h i ef  ex ec ut i v e of f i c er of  th e Com pa n y  s ha l l , b y   v i r tu e o f  ho l d i ng  th a t o f f i c e, be  a di r ec tor.     4.3.   T he  ot he r  d i r ec tors  s ha l l   be  e l ec te d f or a te r m  of  th r ee   y e ars  i n   r ota t i o n, wi th o ne- thi r d (or  as  c l os e  to  one- th i r d a s   i s  m ath em ati c al l y   po s s i b l e) of  th e  to t al   nu m be r  of  di r ec tors  to  be  e l ec ted  f or a p erio d o f   three y ea r s  a t e v er y  A nn u al   G en era l  M ee t i ng   to f i l l  th e pl ac es  of  th e reti r i ng  di r ec tors .     4.4 . R eti r i ng   di r ec t ors  s h al l ,  i f  ot he r wi s e q ua l i f i ed ,  be   el i gi bl e f or r e - el ec t i on .     4.5.   N om i na ti o n. A n y  e l i gi b l e p o l i c y ho l de r  m a y  b e n om i na te d f or el ec t i on  as  a di r e c tor b y   w r i tte n no m i na ti o n s i g ne d  b y   thre e   oth er po l i c y h o l de r s   w h o a r e q u al i f i ed  t o v ote  f i l ed   at t h e He a d Of f i c e o f the   C om pa n y  n o l es s  th an   25  d a y s   i n a dv an c e of  th e m ee ti ng  at   whi c h   di r ec t ors  are to   be  e l ec t ed   4.5 .1 . T he  B o ard s ha l l  an n ua l l y   ap po i nt a  Nom i na ti on   Com m i tte e c on s i s ti n g o f  at   l ea s t f ou r  m e m be r s , a l l   of  w h om  ne ed  no t  be   di r ec t ors . T he  No m i na ti on  C om m i tte e s ha l l  c on du c t the  f ol l o wi ng   du e  d i l i ge nc e o n   ea c h p ers on   s ee k i ng   el ec t i on  or r e - e l ec t i on   as  a d i r ec t or:   4.5 .2 . C o nf i r m  ea c h p ers on s  qu a l i f i c at i on  to   be  e l ec t e d a s  a di r ec tor;   4.5 .3 . A s s es s   ea c h pe r s on s  pe r s on a l  an d p r of es s i on al  i nt eg r i t y  a nd   c om m i t m en t to  prom ote  th e l on g t erm  i nte r es ts   of  th e C om pa n y , a n d h i s  or h er c o m m i t m en t to  de v ot e a de q u ate  t i m e t o s erv e a s  a  B oa r d m e m be r ;   4.5 .4 . Int erv i e w   ea c h pe r s o n;   4.5 .5 . A nd   pr ov i de  a r e po r t t he r eo n t o the   po l i c y ho l de r s  at  th e A n nu a l   G e ne r a l  M e eti n g p r i or to the  e l ec t i on   of   di r ec tors .   Q u ali f ica t ion  of  Dir ec t o r s   5.1  No person shall be eligible for election or re-election as a director after having attained his 75th birthday. 5.2. Notwithstanding any other provision of the By-laws of the Company, the following persons are not eligible to be elected as a Director of the Company:   a. An Insurance Broker or Insurance Agent associated with the Company,   or anyone having a financial interest in an insurance brokerage or insurance agency associated with the Company; b. A Director, Officer, shareholder, employee or agent of an Insurance Brokerage or Insurance Agency business associated with the Company;   c. An employee of the Company, other than the President and Chief Executive Officer; d. A Director or Officer of another Insurance Company other than an insurance company which is a subsidiary or affiliate of the Company or the Farm Mutual Reinsurance Plan Inc.; e. A spouse, child, parent, parent-in-law or sibling of any of the foregoing.
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