Southwest Professional Indemnity Corp

Address
PO BOX 2185GT
CAYMAN ISLANDS, GRAND CAYMAN KY1-1105
CJ
Contact
Phone: +1 (345) 949-1599
Nonprofit
NTEE: Y23 - Mutual Insurance Company or Association
EIN: 98-0047386

Mission

REINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY INSURANCE RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA.
 20162015201420122010
Basic features of the organization
Year of formation1980
Subsection code15
Form of organization
CorporationTrue
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   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Average hours per week working for related orgs 0.0   
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
Burke, J
Title  OFFICER  
Name of key/compensated person  J TERRY BURKE  
Position of compensated person
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
Campbell, Desmond
Title  DIRECTOR  
Name of key/compensated person  DESMOND CAMPBELL  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
Cayman, Crusader
TitleSECRETARYSecretary   
Name of key/compensated personCRUSADER INT'L MGMT CAYMANCRUSADER INT'L MGMT CAYMAN   
Position of compensated person
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   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Average hours per week working for related orgs0.00.0   
Collins, John
Title  DIRECTOR  
Name of key/compensated person  JOHN A COLLINS  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
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   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Average hours per week working for related orgs0.00.0   
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
Harty, Peter
Title  DIRECTOR  
Name of key/compensated person  PETER A HARTY  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Average hours per week working for related orgs0.00.00.0  
Ltd, Crusader
Title  OFFICER  
Name of key/compensated person  CRUSADER INT'L MGMT CAYMAN LTD  
Position of compensated person
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
Novak, Mark
Title  OFFICER  
Name of key/compensated person  MARK NOVAK  
Position of compensated person
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
Singh, Inderjit
Title  DIRECTOR  
Name of key/compensated person  INDERJIT SINGH  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
Smith, John
Title  DIRECTOR  
Name of key/compensated person  JOHN E SMITH  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00  
Average hours per week working for related orgs  0.0  
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  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Average hours per week working for related orgs0.00.00.0  
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 & expenses
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$76,645.00$106,141.00$82,333.00  
Revenue from contributions (total)$0.00$0.00$0.00 $0.00
Investment income, current yr$6,505.00$4,037.00$5,179.00  
Total revenue from grants, etc., current yr$0.00$0.00$0.00  
Other revenue, current yr$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 functional expenses: sum of all$92,272.00$160,492.00$144,614.00  
Fees for services
Lobbying fees (total)$0.00$0.00$0.00  
Legal fees (total)$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$729,141.00$738,536.00$855,480.00 $1,203,211.00
Total assets, beginning of year$738,536.00$855,480.00$918,380.00  
Total liabilities$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$626,489.00$670,584.00$778,138.00  
Net assets, beginning of 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$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  
Investments -- program-related$0.00$0.00$0.00  
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$0.00$0.00$0.00  
Other financial variables
Revenue less expenses-$15,627.00-$54,351.00-$62,281.00  
Advertising (total)$0.00$0.00$0.00  
Savings & temp cash investment$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$0.00$0.00$0.00  
Total net assets or fund balances$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  
Financial sheets were auditedTrueTrueTrue  
Accrual accountingTrueTrueTrue  
Tax year start date2016-01-012015-01-012014-01-01  
Tax year end date2016-12-012015-12-012014-12-012012-12-012010-12-01
Indicators for schedules (selected)
Business transaction with employeeTrueTrueTrue  
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990  
IRS schema version2016v3.12015v2.12014v5.0  
Filing identifier201703119349302030201622229349300212201533179349308318  
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