PRISM Captive - Affiliate Risk Captive


On July 1, 2016, PRISM launched a captive insurance company, Excess Insurance Organization, Inc. (EIO). In 2020, the Captive was rebranded to Affiliate Risk Captive (ARC) to better align with PRISM’s rebranding.  The formation was over a year in the making, having been the discussion at strategic planning, committee, and Board meetings over several years. ARC is a pure captive, meaning it is 100% owned by PRISM and only takes on the risk of its parent organization. The Captive insures coverage program specific corridor risks; conceptually, a 100% transfer of risk at certain layers, much as the coverage program would cede this risk to a reinsurer. The transfer of risk offers short term gains to the ceding program, and long term gains to PRISM and its members as a whole.

Due to PRISM's financial strength, we are able to leverage economies of scale not commonly available to joint powers authorities. The Captive is domiciled in Utah, and the governing board is made up of current PRISM Board, Committee, and staff members along with Utah Counsel. Existing PRISM staff provide in-house management of the captive including accounting, payment of expenses, and interface with regulators.


ARC has been established to provide both short and long term objectives for PRISM including:

  1. A complete risk transfer of corridor risk from various coverage programs to the captive;
  2. An enhanced investment program governed by its own board and investment policies with the goal of additional investment income; and
  3. A superior risk transfer mechanism when multiple programs’ risks are comingled.


The board is made up of current PRISM Board, Committee, and staff members along with Utah Counsel, and they are:

  • Gina Dean, President (PRISM CEO seat)
  • Scott Schimke, Vice President (from PRISM membership, Scott is a former President of the PRISM Board, serves on the Executive Committee, and is Chair of the Underwriting Committee)
  • Barbara Lubben, Treasurer (from PRISM membership, Barbara serves on the PRISM Board, Executive, and Finance Committees)
  • Brent Andrewsen, Secretary (from Kirton McConkie, Brent is our Utah Legal Counsel and fulfills the role of Utah Resident)
  • Janell Crane, Board Member (from PRISM membership, Janell is a former President of the PRISM Board, serves on the Executive Committee and is Vice Chair of the Underwriting Committee) 
  • Michael Pott, Board Member
  • Michael Fleming, Retired/Outside Individual


ARC is run much in the same manner as PRISM.  Although captive insurance companies are not subject to regulations such as the Brown Act, it is important to the members of PRISM to have full knowledge of the happenings and activities of ARC, and as such, staff provides full disclosure to its members and the public.  Members can view PRISM's website or the Captive's website at any time to find out more information related to the Captive. 


Articles of Incorporation

Bylaws of EIO

Certificate of Authority

Certificate of Public Good

Investment Policy

Resolutions of EIO

Business Plan

EIA Board of Directors Resolution

EIO Stock Certificate