What is the board's role in investments according to the interrogatories?

• A. Approving the purchase/sale of investments
• B. Setting premium rates
• C. Pricing reinsurance
• D. Overseeing employee benefits

Answer: (A)

The main idea is governance over investments: the board oversees and authorizes investment actions to make sure they fit the approved policy and fiduciary standards. In practice, this means the board approves the purchase or sale of investments, while the day-to-day trading is carried out by management within the established investment policy. The other items—setting premium rates, pricing reinsurance, and overseeing employee benefits—are handled by actuarial, underwriting, and HR/benefits teams, not the board’s investment oversight role.