Southwest Professional Indemnity Corp

Address
PO BOX 2185GT
CAYMAN ISLANDS, GRAND CAYMAN KY1-1105
CJ
Contact
Phone: +1 (345) 949-1599
Nonprofit
EIN: 98-0047386
Year formed: 1980

Mission

REINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY INSURANCE RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA.
 20162015201420122010
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$26,557.00$48,358.00$80,621.00  
Sum of reportable (W2/1099) compensation$26,557.00$48,358.00$80,621.00  
Number of employees000  
Number of people compensated >$100k000  
Number of volunteers230  
Number of highly compensated contractors000  
Personnel
112015, Coyle
Title DIRECTOR   
Name of key/compensated person COYLE E DEMOSS - term 112015   
Position of compensated person
Current individual trustee or director True   
Average hours per week working for org 1.0   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Bothwell, John
Title  DIRECTOR  
Name of key/compensated person  JOHN BRYAN BOTHWELL  
Position of compensated person
Current individual trustee or director  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Burke, J
Title  OFFICER  
Name of key/compensated person  J TERRY BURKE  
Position of compensated person
Current officer  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Campbell, Desmond
Title  DIRECTOR  
Name of key/compensated person  DESMOND CAMPBELL  
Position of compensated person
Current individual trustee or director  True  
Current officer  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Cayman, Crusader
TitleSECRETARYSecretary   
Name of key/compensated personCRUSADER INT'L MGMT CAYMANCRUSADER INT'L MGMT CAYMAN   
Position of compensated person
Current officerTrueTrue   
Average hours per week working for org1.01.0   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Collins, John
Title  DIRECTOR  
Name of key/compensated person  JOHN A COLLINS  
Position of compensated person
Current individual trustee or director  True  
Current officer  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Crossan, Gary
Title  DIRECTOR  
Name of key/compensated person  GARY CROSSAN  
Position of compensated person
Current individual trustee or director  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Demoss, Coyle
Title  DIRECTOR  
Name of key/compensated person  COYLE E DEMOSS  
Position of compensated person
Current individual trustee or director  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Elchelsdorfer, Stephen
TitleDIRECTORDirector   
Name of key/compensated personSTEPHEN G ELCHELSDORFERStephen G Elchelsdorfer   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org1.01.0   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Fruze, John
Title  DIRECTOR  
Name of key/compensated person  JOHN A FRUZE  
Position of compensated person
Current individual trustee or director  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Harty, Peter
Title  DIRECTOR  
Name of key/compensated person  PETER A HARTY  
Position of compensated person
Current individual trustee or director  True  
Current officer  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Jaryga, Greg
TitleDIRECTORDIRECTORDIRECTOR  
Name of key/compensated personGREG JARYGAGREG JARYGAGREG JARYGA  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Average hours per week working for org1.01.01.0  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Ltd, Crusader
Title  OFFICER  
Name of key/compensated person  CRUSADER INT'L MGMT CAYMAN LTD  
Position of compensated person
Current officer  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Miller, S
Title  DIRECTOR  
Name of key/compensated person  S RICK MILLER  
Position of compensated person
Current individual trustee or director  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Novak, Mark
Title  OFFICER  
Name of key/compensated person  MARK NOVAK  
Position of compensated person
Current officer  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Singh, Inderjit
Title  DIRECTOR  
Name of key/compensated person  INDERJIT SINGH  
Position of compensated person
Current individual trustee or director  True  
Current officer  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Smith, John
Title  DIRECTOR  
Name of key/compensated person  JOHN E SMITH  
Position of compensated person
Current individual trustee or director  True  
Current officer  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Warren, Lawrence
Title  DIRECTOR  
Name of key/compensated person  LAWRENCE WARREN  
Position of compensated person
Current individual trustee or director  True  
Average hours per week working for org  1.0  
Reportable compensation from org  $0.00  
Other comp, non-reportable, from org and related orgs  $0.00  
Werley, S
TitleDIRECTORDIRECTORDIRECTOR  
Name of key/compensated personS GARY WERLEYS GARY WERLEYS GARY WERLEY  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Average hours per week working for org1.01.01.0  
Reportable compensation from org$26,557.00$48,358.00$80,621.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Purpose: mission, activities, & accomplishments
Mission or significant activitiesREINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA.REINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICAREINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA.  
Programs, including revenue & expense
INSURANCE - GROSS RECEIPTS DURING THE YEAR ENDED DECEMBER 31, 2016, WERE $76,645. THE COMPANY'S PREMIUMS RECEIVED DURING THE YEAR ENDED DECEMBER 31, 2016, WERE $70,140, WHICH EXCEEDED 50% OF THEIR TOTAL RECEIPTS, THEREBY SATISFYING THE TAX EXEMPT STATUS REQUIREMENTS OF INTERNAL REVENUE SERVICE CODE SECTION 501(c)(15)(A).
Program descriptionINSURANCE - GROSS RECEIPTS DURING THE YEAR ENDED DECEMBER 31, 2016, WERE $76,645. THE COMPANY'S PREMIUMS RECEIVED DURING THE YEAR ENDED DECEMBER 31, 2016, WERE $70,140, WHICH EXCEEDED 50% OF THEIR TOTAL RECEIPTS, THEREBY SATISFYING THE TAX EXEMPT STATUS REQUIREMENTS OF INTERNAL REVENUE SERVICE CODE SECTION 501(c)(15)(A).INSURANCE - GROSS RECEIPTS DURING THE YEAR ENDED DECEMBER 31, 2015, WERE $106,141. THE COMPANY'S PREMIUMS RECEIVED during the year ended December 31, 2015, WERE $102,104, WHICH EXCEEDED 50% OF THEIR TOTAL RECEIPTS, THEREBY SATISFYING THE TAX EXEMPT STATUS REQUIREMENTS OF INTERNAL REVENUE SERVICE CODE SECTION 501(c)(15)(A).INSURANCE - GROSS RECEIPTS DURING THE YEAR ENDED DECEMBER 31 WERE $82,333 & THE COMPANY'S PREMIUMS RECEIVED WERE $77,154 WHICH EXCEEDED 50% OF THEIR TOTAL RECEIPTS THEREBY SATISFYING THE TAX EXEMPT STATUS REQUIREMENTS OF INTERNAL REVENUE SERVICE CODE SECTION 501(c)(15)(A).  
Financial data
Revenue
Total revenue, current year$76,645.00$106,141.00$82,333.00  
Program service revenue, current year$70,140.00$102,104.00$77,154.00  
Investment income, current year$6,505.00$4,037.00$5,179.00  
Total revenue from grants, etc., current year$0.00$0.00$0.00  
Other revenue, current year$0.00$0.00$0.00  
Net unrelated business taxable revenue$0.00 $0.00  
Program service revenue (total)$70,140.00$102,104.00$77,154.00 $72,088.00
Other types of revenue
Royalties (total)$0.00$0.00$0.00  
Miscellaneous revenue (total)$0.00$0.00$0.00  
Net revenue from gaming (total)$0.00$0.00$0.00  
Investment income$10,973.00$8,747.00$11,134.00  
Net rental income$0.00$0.00$0.00 $0.00
Net income from fundraising events$0.00$0.00$0.00  
Net inventory sales (total)$0.00$0.00$0.00  
Expense categories (totals)
Total expenses, current year$92,272.00$160,492.00$144,614.00 $150,600.00
Fees for services
Lobbying fees (total)$0.00$0.00$0.00  
Total functional expenses: legal fees$0.00$0.00$0.00  
Fundraising service fees (total)$0.00$0.00$0.00  
General management fees (total)$30,000.00$25,000.00$25,000.00  
Investment management fees (total)$0.00$0.00$0.00  
Assets and liabilities
Total assets, end of year$729,141.00$738,536.00$855,480.00  
Total assets, beginning of current year$738,536.00$855,480.00$918,380.00  
Total liabilities, end of year$102,652.00$67,952.00$77,342.00 $280,491.00
Total liabilities, beginning of year$67,952.00$77,342.00$53,462.00  
Pledges & accounts receivable, net$0.00$0.00$0.00  
Loans & receivables from key persons$0.00$0.00$0.00  
Net assets, end of year$626,489.00$670,584.00$778,138.00  
Net assets, beginning of current year$670,584.00$778,138.00$864,918.00  
Other liabilities$74,999.00$38,999.00$63,209.00  
Bond liabilities$0.00$0.00$0.00  
Intangible assets$0.00$0.00$0.00  
Other assets$24,018.00$27,434.00$12,033.00  
Investments: other securities$0.00$0.00$0.00  
Investments: publicly traded securities$347,431.00$455,857.00$508,989.00  
Cash: non-interest bearing, end of year$265,107.00$156,918.00$333,254.00  
Cash: non-interest bearing, beginning of year$156,918.00$242,994.00$332,474.00  
Escrow or custodial account liability$0.00$0.00$0.00  
Loans and other payables to key persons$0.00$0.00$0.00  
Grants payable$0.00$0.00$0.00  
Inventories for sale or use, end of year$0.00$0.00$0.00  
Gross receipts$492,077.00$543,871.00$646,210.00  
Revenue less expenses, current year-$15,627.00-$54,351.00-$62,281.00  
Advertising (total)$0.00$0.00$0.00  
Savings & temp cash invest$90,260.00$90,260.00$0.00  
Accounts receivable, net$0.00$0.00$0.00  
Prepaid expenses & deferred charges$2,325.00$8,067.00$1,204.00  
Accounts payable & accrued expenses$27,653.00$28,953.00$14,133.00  
Deferred revenue$0.00$0.00$0.00  
Unsecured notes & loans to unrelated parties$0.00$0.00$0.00  
Secured mortgages and notes payable, end of year$0.00$0.00$0.00  
Total net assets or fund balances, end of year$626,489.00$670,584.00$778,138.00  
Depreciation, depletion, amortization$0.00$0.00$0.00  
Payment to affiliates$0.00$0.00$0.00  
Governance and accountability
Number of voting members3413  
Number of independent voting members2312  
Accrual accountingTrueTrueTrue  
Financial sheets were auditedTrueTrueTrue  
Tax year start date2016-01-012015-01-012014-01-01  
Tax year end date2016-12-012015-12-012014-12-012012-12-012010-12-01
Checklist of schedules (selected)
TrueTrueTrue  
Metadata about the filing
Return type: 990, 990EZ, or 990PF990990990  
IRS schema version2016v3.12015v2.12014v5.0  
Filing identifier201703119349302030201622229349300212201533179349308318  
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