The Board shall be required to safeguard and promote an effective relationship with the external auditor by ensuring that:•        The terms of engagement of the external auditor are clear and appropriate to the scope of the audit and resources required to conduct the audit and specify the level of audit fees to be paid;•        The auditor undertakes a specific responsibility under the terms of engagement to perform the audit in accordance with applicable auditing standards;•        There are adequate policies and a process to ensure the independence of the external auditor, including policies and processes that address the auditor's compliance with applicable ethical and professional standards, restrictions and conditions for the provision of non-audit services which are subject to approval by the Board, partner or firm periodic rotation as appropriate, and safeguards to eliminate or reduce to an acceptable level identified threats to the independence of the external auditor;•        There is unrestricted access by the external auditor to information and persons   with the insurer as necessary to the conduct of the audit; and•        There is an evaluation of the effectiveness of the external audit process at the end of the audit cycle.