IT’S A MATTER OF TRUST
The Who, The What and Why of Your BOT
Have you ever considered that OMSMAF belongs to you and your fellow members? Given how meaningful your healthcare cover is for you and your family, good governance is no small thing, and we want to remind you that as a member, you have a say in the matter.
With this in mind, here’s a quick overview of the OMSMAF Board of Trustees (BOT) and the invaluable role that it plays in making your Fund work for you.
Why do we need a BOT?
Unlike many other types of insurance, medical schemes are non-profit entities that must be governed by a Board of Trustees to ensure that the Fund runs efficiently and acts in the best interests of members and Old Mutual at all times.
What does the BOT do?
The Trustees of the Board serve on various sub-committees, as listed in the little green block. These sub-committees report to the Board of Trustees, which is overseen by the Chairperson of the Board, to ensure that all aspects of the Fund are being properly managed.
Who are the Trustees?
The Medical Schemes Act requires that 50% of trustees are elected from the membership base by members themselves because trustee independence is crucial in safeguarding the interests of members. You will soon have the chance to nominate fellow members in good standing to run for election and to represent you on the Board, so keep an eye out for further communications about this. Your active participation helps to make your Fund the best in the business!
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