The Board consists of five members, appointed by the Governor with the advice and consent of the Senate. Of the five members of the Board: two shall have substantial experience as officers or employees of a property and casualty insurance company; one shall have substantial experience in the field of accounting or finance; one shall be a policyholder of workers’ compensation insurance issued in the State; and one shall represent the general public. Before taking office, each appointee to the Board shall take the oath required by Article I, § 9 of the Maryland Constitution. The term of a member is 4 years. At the end of a term, a member continues to serve until a successor is appointed and qualifies. A member who is appointed after a term has begun serves only for the rest of the term and until a successor is appointed and qualifies. The Governor may remove a member for incompetence or misconduct.