The Investor Compensation Company DAC (ICCL) seeks to fulfil its mission by adopting a Strategy that is focussed on accomplishing its core objectives. A Strategic Plan, incorporating high level goals, devised and approved by the Board is implemented to facilitate the pursuit of these objectives and guide our operations. Progress on the achievement of objectives is monitored on a regular basis and reviewed annually by the Board.
Our Strategic Plans are set for a 4/5 year period following which a new strategy is formulated and introduced, taking into account the outcome and experience garnered from the previous period as well as any environmental changes, including pending legislative developments. The latest Plan, approved by the Board in 2015 covers the years 2016-2020. The key components of the Plan are portrayed in the following graphic:
The ICCL’s four High Level Goals for the period are:
1. To ensure that the Scheme is adequately funded, by collecting levies and managing invested reserves prudently, so that we have the resources to pay claims when they arise.
2. To manage the ICCL efficiently and effectively, implementing quality corporate governance and risk management procedures.
3. To handle claims for compensation promptly and to expedite the certification of claims.
4. To communicate effectively, manage relationships and be an advocate of change with all key stakeholders.