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2006-09-15 BOD MeetingTerrace Hotel 329 E. Main Street Lakeland, FL 33801 -5046 Phone: 863 - 688 -0800 Toll-Free: 888 - 644 -8400 Directions from Tampa 1 -4 East toward Orlando Exit 28 Memorial Blvd. (approx. 3.5 mi.) Right on Massachusetts Ave. (approx. 1 mi.) Hotel is located at the corner of Main St. & Massachusetts Ave. Directions from Orlando 1 -4 West toward Tampa Exit 33, State Road 33 Continue South (approx. 4 mi.) (SR 33 changes name to Lakeland Hills Blvd., then Massachusetts Ave.) Hotel is located at the corner of Main St. & Massachusetts Ave. Directions from Ft. Myers 1 -75 North to Exit 164 (old Exit 29), US Route 17 North Follow 17 North to Bartow, turn left on US Route 98 Follow 98 North into town, turn left on Main Street and follow around the lake to the hotel, located at the corner of Main St. & Massachusetts Ave. Complimentary valet parking at hotel. 8:00 a. m. PUBLIC RISK MANAGEMENT OF FLORIDA EXECUTIVE COMMITTEE MEETING September 15, 2006 Lakeland, FL AGENDA Call To Order John Litton, Chairperson CONSENT AGENDA 1. Request Approval of September 1, 2006 Executive Committee Meeting Minutes Any Board Member may request to have an item removed from the Consent Agenda and placed on the Regular Agenda for further discussion. REGULAR AGENDA 2. Insurance Advisor's Report A. 2006/07 Program Renewal Recommendations 3. Broker's Report A. 2006/07 Renewal Presentation Glenn Tobey Andy Cooper, A. J. Gallagher Ross Furry 4. Amendment to By -Laws A. Aggregate Excess of Loss Fund Insurance (Optional vs. Mandatory) 5. Approval to Not Purchase Aggregate Excess of Loss Fund Insurance 6. Approval to Restrict Surplus Funds for Losses in Excess of Loss Fund 7. Use of Surplus Funds to Carry Members Premiums for 10/1/07 to 3/30/08 Due and Payable 10/1/06 to Carriers 8. Presentation of Allocation Policy for Named Windstorm Losses Excess of Aggregate Policy Limits 9. Hurricanes Charley; Frances, Ivan, Jeanne & Wilma A. Claim Status Update 10. Member Attendance at Board Meetings 11. Committee Member Items Public Comment: State full name and address. Discussion must be limited to a maximum of five (5) minutes per person. Adjourn Ross Furry Ross Furry Ross Furry Ross Furry Ross Furry Ross Furry NOTICE OF MEETING OF PUBLIC RISK MANAGEMENT OF FLORIDA EXECUTIVE COMMITTEE MEETING Public Risk Management of Florida, an intergovernmental risk management association, organized under Florida Statutes 163.01, hereby gives notice of its Executive Committee Meeting to be held on Friday, the 15th day of September, 2006. The meeting will be held at 8:00 am in the Lake Mirror Room of the Terrace Hotel, 329 E. Main Street, Lakeland, Florida 33801. Directions to the meeting site are attached, as well as a copy of the agenda for said meeting. This is a public meeting and open for comments. If a person decides to appeal any decision considered at this meeting, he or she may need a record of the proceedings, and that, for such purpose, he or she may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony in evidence upon which the appeal is based. Public Notice PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING The Terrace Hotel Lakeland, FL September 15, 2006 AGENDA 10:00 am Call To Order John Litton, Chairperson Consent Agenda 1. Request Approval of June 22, 2006 Board Meeting Minutes 2. Request Approval of Treasurer's Report as of June 30, 2006 3. Ratify Election of Officers from June Board Meeting Any Board Member may request to have an item removed from the Consent Agenda and placed on the Regular Agenda for further discussion. Regular Agenda 4. Insurance Advisor's Report Glenn Tobey A. 2006/07 Program Renewal Recommendations 5. Broker's Report Andy Cooper, A.J. Gallagher & Co. A. 2006/07 Renewal Presentation 6. Amendment to By -Laws Ross Furry A. Aggregate Excess of Loss Fund Insurance (Optional vs. Mandatory) 7. Approval to Not Purchase Aggregate Excess of Loss Fund Insurance Ross Furry 8. Approval to Restrict Surplus Funds for Losses in Excess of Loss Fund Ross Furry 9. Use of Surplus Funds to Carry Members Premiums for 10/1/07 to 3/30/08 Due and Payable 10/1/06 to Carriers Ross Furry 10. Presentation of Allocation Policy for Named Windstorm Losses Excess of Aggregate Policy Limits Ross Furry 11. Appointment and Contract Approval of Roper & Roper, P.A. as PRM General Counsel Ross Furry 12. Approval of Insurance Advisor Contract Ross Furry 13. By -Laws Clarification Ross Furry A. Notice of Intent to Withdraw B. Notification of Board Representatives PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING The Terrace Hotel Lakeland, FL September 15, 2006 AGENDA Regular Agenda (Continued) 14. Hurricanes Charley, Frances, Ivan, Jeanne & Wilma Ross Furry A. Claim Status Update 15. Member Notice — Intent to Withdraw 9/30/07 Ross Furry 16. Florida PRIMA Conference Ross Furry 17. Member Attendance at Board Meetings Ross Furry 18. Board Member Items John Litton A. Establish Meeting Dates for Calendar Year 2007 Public Comment: State full name and address. Discussion must be limited to a maximum of five (5) minutes per person. Adjournment Luncheon immediately following PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 CONSENT AGENDA SUMMARY 1. Request Approval of June 22, 2006 Board Meeting Minutes Background: Meeting Minutes attached 2. Request Approval of Treasurer's Report as of June 30, 2006 Background: Financial Reports Attached 3. Ratify Election of Officers from June Board Meeting At the June Board Meeting, the following were re- elected to serve 2 -year terms, commencing 10 -1 -06: John Litton — Chairperson Mike Sheppard — Treasurer Article 6.2. of the By -Laws states the Board shall, bi- annually select [officers] during the final quarter of each two -year term to serve during the subsequent two -year term. Therefore ratification is required at this meeting. Board Action: Approved Denied Deferred Other 1. Board Meeting Minutes 6/22/06 PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING Hilton Beach Resort, Marco Island, FL June 22, 2006 MINUTES Attendance: Kathy Bennett, City of Avon Park Susan Lee, Town of Belleair; Vivian Hunter, City of Belle Glade; Steve Baumgartner, City of Brooksville; Ted Byrd, City of Clewiston; Linda Stilson, City of Crystal River; Jerry Hill, DeSoto County BOCC; Mike Sheppard, City of Eustis; Delores Avery, City of Fort Meade; Mary Ann Dotson, Glades County BOCC; Jennifer Valdes, City of Gulfport; Jane Long, Hardee County BOCC; Lester Baird, Hendry County BOCC; Freddie Carino, Highlands County BOCC; Nancy Beelman, Town of Kenneth City; Michael Boyle, City of LaBelle; Bill Vance, Town of Lady Lake; John Litton, City of Lake Mary; Arlene Tuck, Town of Lake Placid; Bob Zega, Lee County Port Authority; Jacqueline Martin, Levy County BOCC; Melissa Amold, City of Moore Haven; Jeff Sutton, City of New Port Richey; Steve Gailbreath, City of North Port; Robbie Chartier, Okeechobee County BOCC; Connie Collins, City of Oviedo; Jeanie Perkins, City of Pahokee; Dave Drury, City of Punta Gorda; John Schussler, Sarasota/Manatee Airport Authority; Mike Eastman, City of Sebring; Gary Behnke, City of St. Pete Beach; Crissy Bublitz, City of Tavares; Woody Hubbard, City of Temple Terrace; James Braddock, City of Wauchula;; Sharry Boldt, City of Zephyrhills Carol Rogers, City of Longwood, and Peggy Carpenter, City of Winter Garden, attended the meeting as non - voting representatives from their respective cities. Absent: City of Deltona, Hamilton County BOCC, Holmes County BOCC, City of Indian Rocks Beach, City of Lake Wales, Town of Longboat Key, City of Okeechobee, City of Port Richey, City of Safety Harbor, South Florida Conservancy, City of South Pasadena, Sun `n Lake of Sebring, Tampa Bay Water Chairperson John Litton called the meeting to order at 2:08 p.m. with a quorum present. Consent Agenda: 1. Request Approval of March 10, 2006 Board Meeting Minutes 2. Request Approval of Treasurer's Report as of March 31, 2006 Dave Drury made a motion to approve the consent agenda. Mike Boyle seconded the motion and it was unanimously approved. Regular Agenda: 3. Executive Committee Report A. Executive Director Evaluation and Recommended Salary For FY 2006/07 Mr. Litton reported on evaluations submitted for the Executive Director, and overall, members are pleased with his performance as well as service from staff. Frustrations over hurricane claims payments and the 2006/07 renewal were noted, but these issues are beyond PRM's control. Mr. Litton recommended that Mr. Furry make an on -site visit to each member during the year. The Executive Committee has endorsed an 8% salary adjustment (4% cost of living increase and 4% merit increase) for the Executive Director for the 2006 /07 fiscal year. 4. Executive Director's Report A. PRIMA Conference — Mr. Furry advised ten members received PRM scholarships to attend the PRIMA Conference in Las Vegas, Nevada, June 10 -15, 2006: Dan Hood, City of Oviedo; Jennifer Valdes, City of Gulfport; Janet Taylor, Hendry County BOCC; Linda Stilson, City of Crystal River; Lisa Smith, City of LaBelle; Marcel Blais, Town of Lady Lake; Mary Ann Dotson, Glades County BOCC; Ron Baker, City of Brooksville; Sharry Boldt, City of Zephyrhills; Woody Hubbard, City of Temple Terrace. Also attending the Conference, but not part of the scholarship program, was Bob Zega, Lee County Port Authority. B. Hurricane Claims Status — Mr. Furry urged members with losses on contents and property in the open to submit the appropriate claims before the filing time period terminates. He provided the following status: Charley: 207 open claims; $37 million paid; $4 million remaining in reserves; total experience to be $45 -$50 million Frances: $279,000 paid; $300,000 remaining in reserves Ivan: $342 Jeanne: $5.8 million paid; $8 million in total experience; $2 million remaining in reserves; 89 claims open Wilma: $4.2 million paid; $10 -$11 million in total experience; $6 million in reserves, 200 claims open 2 C. Request Board Approval of 2006/07 Administrative Budget — Mr. Furry presented the 2006/07 Administrative Budget and noted an overall 12% reduction, primarily due to the transfer from the Health Trust. In the past, this transfer went into surplus. The budget includes an 8% salary increase (4% cost of living and 4% merit) for the Executive Director, and 6% increase overall for staff. The Executive Committee reviewed the budget and recommends approval. Mr. Boyle made a motion to approve the 2006/07 Administrative Budget. Bill Vance seconded the motion and it was unanimously approved. D. Change August Meeting Date — Due to the unavailability of renewal rates by the August 11m Board Meeting, a motion was made by Steve Gailbreath to reschedule the meeting to 10:00 a.m. on September 15th at the Terrace Hotel in Lakeland. Steve Behnke seconded the motion and it was unanimously approved. 5. Broker's Report A. Market Trends & Outlook for 2006/07 — Mr. Cooper reported capacity in the property market has continued to decline. At the March Board Meeting he indicated the possibility of obtaining half the current capacity of $500 million for double the premium at renewal. Now predictions for a 10/1 renewal are $50 -$100 million capacity at a 200 % - 400% premium increase. The broker assured members all available markets are being pursued. B. Meeting with Underwriters — Mr. Tobey reviewed meetings with BRIT and AmericanRe. ACE has also indicated interest in the underwriting submission this year. During underwriters meetings, extending current coverage to 4/1/07 was discussed due to the property marketplace. Another option was an 18 -month policy from 10/1/06 to 4/1/08. The insurance advisor recommends moving the annual renewal date froml0 /1. Current windstorm deductibles are 2% and will increase to at least 5 %. BRIT's philosophy is geared towards lower premiums and a higher loss fund, which coincides with PRM. Conversely, AmRe believes in higher premiums and a lower loss fund. Terrorism coverage is not included in the BRIT package, however, a separate policy insured by BRIT is provided through the A. J. Gallagher -UK office. AmRe provides terrorism coverage within their package limits. Under BRIT's terms and conditions, enhancements would be made to Errors & Omissions and windstorm deductible would increase to 5 %. AmRe would provide E &O limits up to $2 million per member and would increase the pool liability limit to $10 million. Consideration of PRM adjusting claims in- house was discussed with underwriters whether it be for Workers' 3 Comp and/or Liability. BRIT normally does not honor in -house adjusting although an exception is conceivable. AmRe does recognize in -house adjusting. New member prospects include Venice, Naples, Flagler, Leesburg, Aubumdale, Sanford, and Ocoee. C. Steps Taken to Renew PRM's Insurance — Mr. Cooper explained the step -by -step renewal process. First, applications are distributed to members. Upon return, all information is thoroughly examined by A. J. Gallagher staff. Spreadsheets are prepared with property values being matched against those from the appraisal company. Carrier applications are completed. Renewal submissions are then sent to the markets. BRIT is the current carrier for the coverage document on the first $2.5 million in property, $2 million in liability, and $1 million in Workers' Comp. In addition to BRIT, a quote will be obtained from Munich America Risk Partners (MARP). Other companies that will be approached include ACE, Genesis, and AIG. For placement of excess property, the A. J. Gallagher - Orlando staff will directly contact Travelers and Liberty Mutual, as well as continuing to use two wholesalers, CRC and RPS. By using two wholesalers, the broker insures global saturation of the PRM account. A. J. Gallagher - UK will access their European connections. Safety National is the carrier for excess Workers' Comp and provides statutory coverage above $1 million. Although other WC carriers in Florida require higher retentions, all are contacted each year to ensure competitiveness. MARP through Princeton E &S provides excess liability coverage. ACE has indicated interest in quoting this year. Once quotations are returned from the carriers, the A. J. Gallagher staff analyzes terms and conditions, ensuring coverage is not lost from the previous year. The broker will then renegotiate coverage and rates before reviewing the program structure with the Executive Director. The program is then finalized and allocations are calculated for each member. 6. Election of Officers — Elections for a 2 -year term were held for Chairperson and Treasurer. Chairperson — Mr. Litton expressed interest in continuing to serve as Chairperson. No nominations were received from the floor. Mr. Boyle made a motion to close nominations. Fred Carino seconded the motion and it was unanimously approved. Mr. Litton was re- elected Chairperson for the 2 -year term, commencing 10 -1 -06. Treasurer — Mike Sheppard expressed his interest to continue serving as Treasurer. No nominations were received from the floor. Mr. Boyle made a motion to close nominations. The motion was seconded by Mr. Drury and it was unanimously approved. Mr. Sheppard was re- elected Treasurer for the 2 -year term, commencing 10 -1-06. 7. Legal Update - Mr. Weiss discussed the latest ruling concerning employees "regarded as disabled" being entitled to accommodations under the Americans with Disabilities Act (ADA). If employers acknowledge an employee's "perceived" disability, employers are liable under the ADA. Members were encouraged to check with their attorney or through PRM to ensure an employee's disability is a bona fide disability under the ADA. (Item Not on Agenda) Safety Performance Awards - Rob Ross, Sr. Loss Control Consultant, and Mr. Litton, Chairperson, presented awards to the following: Vehicle Safe Driving Awards — Hamilton County BOCC, City of Lake Mary, Town of Lake Placid, City of Moore Haven, Sarasota/Manatee Airport Authority, Sun 'n Lake of Sebring Improvement District Small Entity - Most Improved Safety Performance & Best Overall Safety Record — South Florida Conservancy; runner -up — Town of Kenneth City Medium Entity - Most Improved & Best Overall — Hamilton County BOCC; runner -up — City of Gulfport Most Improved — Lame Entity — Highlands County BOCC; runner -up — Hendry County BOCC Best Overall — Large Entity — City of New Port Richey; runner -up — Highlands County BOCC 5 8. Board Member Items Mr. Gailbreath inquired if the PRM Conference could be moved to May, so the National PRIMA Conference and the PRM Conference would not be held on consecutive weeks in June, thereby giving members a better opportunity to attend each conference. The feasibility of this change will be considered. Mr. Gailbreath asked if scholarships to the PRM Conference would be available next year, and the Executive Director advised that funding could be arranged. Mr. Boyle requested not holding the quarterly meeting dates on the second Thursday or Friday of the month to avoid his scheduling conflicts. Mr. Litton advised this would be considered. There was no Public Comment. Meeting adjourned at 3:35 p.m. Respectfully submitted, Susan M. Baron in the absence of Judith A. Hearn Assistant Executive Director Secretary to PRM Board 0:Uudy1BD MTGS1Board of Directors Meeting 6 -22-06 6 2. Treasurer's Report as of 6/30/06 PUBLIC RISK MGMT OF FL BALANCE SHEET JUNE 30, 2006 CURRENT ASSETS PETTY CASH $ 75.00 OPERATING -SO TRUST 32,479,535.32 INVESTMENT TRANSFER ACCOUNT 3,928.19 A/R MEMBERSHIPS 825,988.35 A/R TRADE 93.46 A/R CONSULTANT FEE- MEMBERS 3,714.89 A/R- REINSURANCE RECOVERIES (21,143,563.88) A/R OTHER 141.38 A/R -STATE W/C ASSESSMENT (317,928.29) A/R- APPRAISALS 767.00 A/R - ADDITIONAL INSURANCE 501.21 A/R - SCHOLARSHIP PROGRAM 3,500.00 DUE FROM MEMBERS 1,036,049.00 STATE ADMIN. FUND 13,061,094.01 SOUTHTRUST SECURITIES 529,548.01 TOTAL CURRENT ASSETS 26,483,443.65 PROPERTY AND EQUIPMENT FURNITURE & FDXTURES 34,181.96 LESS: ACCUM. DEPRECIATION (27,366.23) OFFICE MACHINES & EQUIPMENT 97,445.40 LESS: ACCUM. DEPRECIATION (61,633.13) AUTOMOBILE 141,306.06 ACCUMULATED DEPRECIATION (17,140.31) TOTAL PROPERTY & EQUIPMENT 166,793.75 OTHER ASSETS PREPAID INSURANCE 2,512,446.20 PREPAID FLOOD INSURANCE 94.49 PREPAID EXPENSES 4,634.79 DEFER MEMBER CONTR - 1987 -89 183,808.00 DEFER MEMBER CONTR- 1989 -90 295,679.00 DEPOSITS 5,665.06 TOTAL OTHER ASSETS 3,002,327.54 TOTAL ASSETS $ 29,652,564.94 LIABILITIES ACCOUNTS PAYABLE $ 193,671.28 A/P - GALLAGHER/RISX -FACS (1,338,197.26) A/P EMP LIFE INS (461.00) A/P - OTHER 132,358.09 A/P - LOSS PREVENTION 14,933.73 ACCRUED VACATION 41,121.55 ADVANCE FROM REINSURER 4,341,369.26 CLAIMS PAYABLE - 1987 -89 50,960.17 CLAIMS PAYABLE - 1989 -90 20,000.00 CLAIMS PAYABLE - 1990 -91 16,794.30 CLAIMS PAYABLE - 1991 -92 6,921.90 CLAIMS PAYABLE - 1992 -93 8,637.07 CLAIMS PAYABLE - 1993 -94 (22,457.63) CLAIMS PAYABLE - 1994 -95 33,283.65 CLAIMS PAYABLE - 1996/97 38,986.68 CLAIMS PAYABLE - 1997/98 (133,807.39) CLAIMS PAYABLE - 1998/99 (113,863.01) CLAIMS PAYABLE - 1999/00 (218,658.11) CLAIMS PAYABLE - 2000/01 (553,471.23) CLAIMS PAYABLE - 2001/02 (202,523.54) CLAIMS PAYABLE - 2002/03 2,289,733.67 CLAIMS PAYABLE - 2003/04 (13,336,008.45) CLAIMS PAYABLE - 2004/05 4,680,610.65 CLAIMS PAYABLE - 2005/06 (6,356,125.30) TOTAL LIABILII IES (10,406,190.92) CAPITAL FUND BALANCE REVENUE IN EXCESS OF EXPENSE PUBLIC RISK MGMT OF FL BALANCE SHEET JUNE 30, 2006 20,019,391.61 20,039,364.25 TOTAL CAPITAL 40,058,755.86 TOTAL LIABILITIES & CAPITAL $ 29,652,564.94 SALARY RELATED EXPENSES OFFICERS' SALARIES OFFICE SALARIES PAYROLL TAXES EMPLOYEE RETIREMENT BENEFITS HEALTH INSURANCE - OFFICER HEALTH INSURANCE - OFFICE LIFE INSURANCE - OFFICER LIFE INSURANCE - OFFICE LTD INSURANCE TOTAL SALARY RELATED EXPENSES PUBLIC RISK MGMT OF FL EXPENSES TO BUDGET FOR THE Nine MONTHs ENDING June 30, 2006 MONTHLY MONTHLY Y -T -D Y -T -D TOTAL YEAR ACTUAL BUDGET ACTUAL BUDGET BUDGET 9,590.28 9,633.50 89,384.27 86,701.50 35,804.24 39,642.31 344,235.06 348,114.12 3,739.51 3,563.30 33,261.47 31,403.04 4,760.74 4,029.19 35,659.56 35,829.39 587.16 634.50 5,284.44 5,710.50 8,094.32 8,058.64 70,463.44 72,361.08 71.92 69.33 647.28 623.97 151.28 188.56 1,279.20 1,530.36 821.36 937.92 7,392.24 8,441.28 63,620.81 66,757.25 587,606.96 590,715.24 115,602.00 467,041.05 42,092.94 47,916.96 7,614.00 96,537.00 832.00 2,096.04 11,255.00 790,986.99 GENERAL EXPENSES LEGAL FEES 0.00 1,000.00 1,780.10 9,000.00 12,000.00 LEGAL - PRE - DEFENSE 189.00 625.00 1,039.50 5,625.00 7,500.00 AUDIT FEES 0.00 2,583.33 26,000.00 23,249.97 31,000.00 ACTUARIAL STUDY 0.00 1,166.67 13,555.45 10,500.03 14,000.00 APPRAISAL FEE EXPENSE 0.00 208.33 2,500.00 1,874.97 2,500.00 AUTO EXPENSE 864.50 250.00 5,961.01 2,250.00 3,000.00 TRAVEL EXPENSE 17,640.32 2,375.00 45,784.97 21,375.00 28,500.00 ASSOCIATION MEMBERSHIPS 0.00 250.00 669.00 2,250.00 3,000.00 DUES & SUBSCRIPTIONS 235.00 208.33 1,311.16 1,874.97 2,500.00 EDUCATION/TRAINING /CONFER. 864.24 2,083.33 15,946.34 18,749.97 25,000.00 OFFICE LEASE 5,835.77 5,985.83 58,357.70 53,872.47 71,830.00 JANITORIAL / CLEANING 240.00 300.00 2,150.00 2,700.00 3,600.00 OFFICE /COMPUTER EQUIPMENT 6,375.00 1,500.00 22,251.03 13,500.00 18,000.00 TELEPHONE 2,608.75 2,166.67 15,026.55 19,500.03 26,000.00 COPY MACHINE LEASE 149.80 250.00 2,215.64 2,250.00 3,000.00 REPAIRS & MAINT. - EQUIPMENT 0.00 166.67 0.00 1,500.03 2,000.00 OFFICE SUPPLIES 1,555.27 1,166.67 8,653.25 10,500.03 14,000.00 NEWSLETTER 0.00 333.33 832.50 2,999.97 4,000.00 POSTAGE 459.39 916.67 8,059.54 8,250.03 11,000.00 PRINTING 407.50 166.67 1,344.68 1,500.03 2,000.00 INSURANCE- FLOOD /GENERAL 0.00 250.00 1,000.00 2,250.00 3,000.00 LOSS PREV EQUIP & SUPPLIES 2,707.34 1,833.33 9,020.39 16,499.97 22,000.00 MARKETING & PROMOTION 665.66 375.00 4,375.78 3,375.00 4,500.00 MEETING EXPENSE 3,897.62 2,008.33 17,546.63 18,074.97 24,100.00 MISCELLANEOUS EXPENSE 1,033.35 208.33 4,310.50 1,874.97 2,500.00 TRAINING /SEMINAR PRESENTATION 0.00 500.00 0.00 4,500.00 6,000.00 WEB SITE MAINT. 0.00 566.67 0.00 5,100.03 6,800.00 HURRICANE EXPENSE' 0.00 0.00 768.92 0.00 0.00 NON - BUDGET - BOARD APPROVAL 0.00 0.00 868.20 0.00 0.00 TOTAL GENERAL EXPENSES 45,728.51 29,444.16 271,328.84 264,997.44 353,330.00 TOTAL OPERATING EXPENSES 109,349.32 96,201.41 858,935.80 855,712.68 1,144,316.99 REVENUES MEMBERSHIP ASSESSMENTS INTEREST INCOME REFUND INCOME ADMINISTRATIVE TRANSFER TOTAL REVENUES PUBLIC RISK MGMT OF FL INCOME STATEMENT FOR THE NINE MONTHS ENDING JUNE 30, 2006 CURRENT MONTH YEAR TO DATE 4,542,203.03 $ 27,703,492.70 206,830.31 1,479,145.20 0.00 4,980.13 7,791.00 70,119.00 4,756,824.34 29,257,737.03 EXPENSES OFFICERS' SALARIES 9,590.28 89,384.27 OFFICE SALARIES 35,804.24 344,235.06 PAYROLL TAXES 3,739.51 33,261.47 EMPLOYEE RETIREMENT BENEFITS 4,760.74 35,659.56 HEALTH INSURANCE - OFFICER 587.16 5,284.44 HEALTH INSURANCE- OFFICE 8,094.32 70,463.44 LIFE INSURANCE- OFFICER 71.92 647.28 LIFE INSURANCE - OFFICE 151.28 1,279.20 LTD INSURANCE 821.36 7,392.24 LEGAL FEES 0.00 1,780.10 LEGAL - PRE - DEFENSE 189.00 1,039.50 AUDIT FEES 0.00 26,000.00 ACTUARIAL STUDY 0.00 13,555.45 APPRAISAL FEE EXPENSE 0.00 2,500.00 AUTO EXPENSE 864.50 5,961.01 TRAVEL EXPENSE 17,640.32 45,784.97 ASSOCIATION MEMBERSHIPS 0.00 669.00 DUES & SUBSCRIPTIONS 235.00 1,311.16 EDUCATION/TRAINING/CONFER. 864.24 15,946.34 OFFICE LEASE 5,835.77 58,357.70 JANITORIAL / CLEANING 240.00 2,150.00 OFFICE /COMPUTER EQUIPMENT 6,375.00 22,251.03 TELEPHONE 2,608.75 15,026.55 COPY MACHINE LEASE 149.80 2,215.64 OFFICE SUPPLIES 1,555.27 8,653.25 NEWSLE II ER 0.00 832.50 POSTAGE 459.39 8,059.54 PRINTING 407.50 1,344.68 INSURANCE - FLOOD /GENERAL 0.00 1,000.00 LOSS PREV EQUIP & SUPPLIES 2,707.34 9,020.39 MARKETING & PROMOTION 665.66 4,375.78 MEETING EXPENSE 3,897.62 17,546.63 MISCELLANEOUS EXPENSE 1,033.35 4,310.50 HURRICANE EXPENSE' 0.00 768.92 NON - BUDGET - BOARD APPROVAL 0.00 868.20 GALLAGHER MGMT FEES 102,641.08 923,769.72 GALLAGHER EXCESS INSURANCE 727,117.17 6,545,054.53 CLAIMS EXPENSE 87,834.67 790,512.03 TOTAL EXPENSES 1,026,942.24 9,118,272.08 REVENUE IN EXCESS OF EXPENSE $ 3,729,882.10 $ 20,139,464.95 PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 REGULAR AGENDA SUMMARY 4. Insurance Advisor's Report A. 2006/07 Program Renewal Recommendations Glenn Tobey Exhibits enclosed have been presented at Board Meeting of 6/22/06 and Executive Committee Meeting of 9/1/06. Updated exhibits and recommendations will be presented by Mr. Tobey at the Board Meeting. 5. Broker's Report A. 2006/07 Renewal Presentation Andy Cooper, A. J. Gallagher & Co. The Broker will present individual Member renewal packages and review overall Pool coverages, terms and conditions at the meeting. 1 u4 )?L, DRAFT PUBLIC RISK MANAGEMENT OF FLORIDA EXECUTIVE COMMITTEE MEETING Comfort Suites, Sarasota, FL September 1, 2006 Attendance: John Litton, Chairperson; Lester Baird, Vice Chairperson; Jeff Sutton, North Representative; Robbie Chartier, South Representative; Ross Furry, Executive Director; Judy Hearn, Assistant Executive Director & Secretary; Susan Baron, Claims /Administrative Assistant Absent: Mike Sheppard, Treasurer Mr. Litton called the meeting to order at 9:05 a.m. Consent Agenda 1. Request Approval of May 23, 2006 Executive Committee Meeting Minutes Lester Baird made a motion to approve the Consent Agenda. Robbie Chartier seconded the motion and it was unanimously approved. Regular Agenda 2. Insurance Advisor & Executive Director's Report Status of 2006/07 Program Renewal — The purpose of the meeting was to review progress on the renewal process. The Executive Director advised that A. J. Gallagher was not invited to the meeting as he is disappointed in the broker's efforts this year. Their performance has not met expectations. Without Mr. Tobey's aid and persistence, the PRM renewal process would still be an uncertainty. He expressed difficulty in maintaining contact with BRIT and CRC as their representatives went on vacation during this critical stage of the renewal process. Mr. Tobey provided a presentation on package proposals from BRIT and MARP (Munich America Risk Partners). BRIT: The BRIT program for 12 months shows an increase of 30.5% on premium. The program includes $500,000 corridor retention. If TRIA coverage is rejected, then terrorism coverage will not apply to Workers' Compensation. Wind deductible is 2% with a maximum of $750,000. If wind deductible is eliminated, then the premium is increased by $350,000. Loss Fund increased to $16,500,000. Property values need to be reviewed annually and failure to review will result in an average percentage clause being added to the policy. MARP: The MARP proposal for 12 months indicates a 10.6% increase over last year's premium. MARP does not have a corridor deductible. TRIA coverage was inclusive within the premium for all lines of coverage. Wind deductible is 2% with a maximum deductible of $500,000. The MARP wind deductible proposal was originally based on site; however, the insurance advisor was able to renegotiate this to location. MARP does not require a Loss Fund minimum or aggregate excess insurance. Premium costs for 18 months were also projected with BRIT's quote being $1,141,000 higher than MARP's. Mr. Tobey's observations and recommendations included: • Purchase the package policy for an 18 -month period for 10/1/06 to 4/1/08. • Eliminate the corridor retention. • Eliminate the package wind deductible. • Purchase TRIA coverage which will include terrorism coverage for Workers' Comp. • Eliminate the Loss Fund (Aggregate Stop Loss). Fund $15,000,000 for annual losses. With the 18 -month program, the total amount would be $22,500,000. • Utilize surplus if losses exceed $15,000,000/$22,500,000 respectively. Restrict $1,500,000 from surplus. Monitor claims for 2 -3 years and then return to surplus. • Request rating per line of coverage within the package to help members allocate a charge back system to their respective departments. • Purchase a minimum of $100,000,000 in property protection to included name storms (hurricanes). Purchase another $100,000,000 excess of named storms (if possible) to include wind, but exclude named storms (hurricanes). Lightning, Fire, Explosion, Tornadoes, etc. • Continue to purchase Excess Work Comp for statutory limits. • Continue to purchase General and Automobile Liability, including Public Officials E &O. • Continue to use Gallagher Bassett as the Third Party Liability, however, during the next 18 months, research other options regarding in -house claims. There may be a savings to handle one or two lines of claims in- house. Mr. Tobey will meet with Greg Butterfield and Andy Cooper of A. J. Gallagher on Tuesday, September 5th to review the two proposals. Mr. Tobey recommends purchasing the package policy for an 18 -month period from 10/1/06 to 4/1/08 from MARP. This will alleviate renewal negotiations during hurricane season. It is unclear if excess property carriers will accept an 18- month policy. If not, a suggestion was made to fund the difference from surplus. Concern was also raised on the impact to smaller members in going to 18 months when budgets have already been structured for 12 months. Discussion regarding Lee County Port Authority's (LCPA) property coverage was held. Meetings have been held with LCPA representatives, advising that LCPA could no long participate in the PRM program for their property coverage due to their size. LCPA is agreeable to the stand -alone policy. The broker requested LCPA maintain their automobile and mobile equipment property coverage with PRM. Mr. Furry recommended the MARP proposal for the package policy and continue negotiations with MARP and BRIT. Mr. Baird made a motion to accept the Executive Director's recommendation. Jeff Sutton seconded the motion. Mr. Litton questioned the need to continue discussions with BRIT when time is critical. He requested withdrawal of the motions. The proposers withdrew their motions, and the Committee endorsed the MARP 18 -month proposal. With regard to Mr. Tobey's recommendation on eliminating the Aggregate Stop Loss Fund, the Executive Director indicated that the By -Laws require aggregate insurance. Therefore, to remove that provision from the By -Laws, a super majority is needed at the September 15, 2006, Board Meeting. Robbie Chartier made a motion to change the By -Laws to provide the option to purchase annual aggregate insurance. Mr. Sutton seconded the motion and it was unanimously approved. Mr. Furry will verify that attendance by phone is acceptable to secure a super majority if needed. Mr. Furry indicated other changes may be required and will be addressed if an 18 -month contract is enacted. 3. Request Approval of Insurance Consultant Contract — Mr. Furry advised the value from Mr. Tobey's advice on this year's renewal, and his continued negotiations are important for the program and especially the excess property placement. The terms of Mr. Tobey's current contract stipulate that he is an advisor only and cannot place insurance for PRM. His 6 -month contract is $10,000 per month for a total of $120,000. The proposed10 -1 -06/07 contract provides for a $218,000 annual salary ($18,000 per month). A. J. Gallagher fees will be reduced to offset Mr. Tobey's salary so there would be no additional cost to the Pool. Along with renewal placement, Mr. Tobey's responsibilities will include recruitment, retention, claims handling, and maintaining market relationships. He will continue to provide daily advice to the Executive Director. Mr. Baird made a motion to request Board approval at the 9/15/06 meeting to engage Glenn Tobey as insurance consultant from 10/1/06 to 9/30/07 at an annual salary of $218,000 under the same terms and 3 conditions of the current contract. Mr. Sutton seconded the motion and it was unanimously approved. 4. Presentation of Contract for Appointment of Don Roper as PRM General Counsel — The representation contract for Mr. Roper's legal services was provided. Mr. Baird made a motion for Board approval on 9/15/06 to retain Don Roper as PRM General Counsel from 10/1/06 to 9/30/07 or as may be extended by mutual consent of the parties. Ms. Chartier seconded the motion and it was unanimously approved. 5. Member Notice — Intent to Withdraw 9/30/07 — The City of Deltona has rendered their notice of intent to withdraw from the Pool on 9/30/07. 6. By -Laws Clarification — Mr. Furry clarified By -Law requirements on member withdrawal notice and change in Board Member and Alternate positions. There has been confusion on whether or not a resolution from the governing body is needed in these instances. A. Notice of Intent to Withdraw [Article 4.2.] — Notice shall be addressed to the Executive Director and accompanied by a resolution of the governing body of the Member electing to withdraw. Actual Withdrawal [Article 4.3.] — Verification shall be in writing to the Executive Director by August 15th whether the Member intends to actually withdraw at the end of the fiscal year. The City Manager or Board Representative can write and confirm their final decision to remain in the Pool or withdraw. B. Notification of Board Representatives [Article 6.1.] — The Representative and Alternate shall be appointed by the governing body of the Member and a copy of the written appointment shall be provided to the Executive Director. For clarification purposes, it has to be in writing however the governing body elects to do so — by resolution, by consent agenda, by delegation to the City Manager. 7. Florida PRIMA Conference — Mr. Furry advised the Conference will be held at the Boca Raton Marriott from October 22 -25. Executive Committee attendees will include John Litton, Lester Baird and Jeff Sutton. (Not on Agenda) The Executive Director sought input from the Executive Committee with regards to equitable claims handling for all members in the event of a wind loss exceeding the $100,000,000 capacity. After discussion of various methods and timeliness, the Executive Committee requested Mr. Furry to research further and prepare a draft for review. 4 8. Committee Member Items There were no Committee Member items. An Executive Committee meeting will be held on September 15th at 8:00 a.m. at the Terrace Hotel in Lakeland prior to the 10:00 a.m. Board Meeting. There was no public comment. The meeting adjourned at 12:20 p.m. Respectfully submitted, Judith A. Hearn Assistant Executive Director Secretary to the Board of Directors JAH:smb O:Wudy \Exec Com Mtgs \Exec Com Mtg 9 -5 -06 5 Serving Florida Public Entities September 7, 2006 To: PRM Members and Alternates The September 15th Board Meeting is fast approaching and the PRM team is diligently working on finalizing the 2006 -2007 renewal. On Friday, September 1st, the Executive Committee held a meeting in which the Insurance Advisor, Glenn Tobey, and the Executive Director reviewed the renewal progress, projections, alternatives and recommendations for action. While final negotiations and clarification of some issues remain, the following determinations were concluded for presentation to the Board on the 15th: 1. Munich America Risk Partners (MARP) has provided the best proposal as to terms, conditions, enhancements to coverage and price and is the unanimous choice for the 2006/07 program, thereby replacing BRIT /Lloyds. 2. PRM should accept MARP's proposal for an eighteen (18) month term from October 1, 2006 to April 1, 2008. Preliminary costs savings indicated are $1,141,000. 3. Eliminate the purchase requirement of Loss Fund Aggregate Stop Loss coverage. Presently, the Aggregate Stop Loss limit is $5 million excess of the $16,541,000 Loss Fund. This change will require an amendment to the By -Laws. 4. Establish and fund from Member contributions a Loss Fund in the amount of $22,500,000 for the period of 10/1/06 to 4/1/08; to be billed quarterly. 5. Set aside and restrict $2,250,000 from surplus to pay any claims in excess of the Loss Fund for the period of 10/1/06 to 4/1/08. This restricted asset to be reviewed annually by the auditor and actuary. 6. Establish, if possible, 18 -month agreements with our service providers, i.e., Gallagher Bassett and Genex, for the period of 10/1/06 to 4/1/08. 3434 Hancock Bridge Parkway • Suite 203 • Fort Myers, Florida 33903 (239) 656 -4666 • (800) 367 -1705 • Fax (239) 656 -1066 PRM Members & Alternates Page 2 September 7, 2006 7. Prepare a draft policy to address how hurricane /wind claims that, in one occurrence, exceed the total limits of property coverage are to be allocated and paid to those members with losses. 8. Investigate options to assist the members in making premium payment due 10/1/06 for the period of 10/1/07 to 4/1/08 should an 18 -month coverage document reinsurance agreement be approved by the Board. All other program costs are billed and collected on a quarterly basis. As indicated in our previous Board meetings over the past year, there have been many changes in the insurance market, and as such, PRM needs to be adaptable to these changes in order to maintain the integrity of the program for all members. Under separate delivery, you will be receiving the minutes of the Executive Committee meeting and wording for the By -Law changes to be considered. Again, the meeting on Friday, September 15th, will be very important for all the members. Please make every effort to attend. Sincerely, -Z„s ,- Ross D. Furry Executive Director RDF:smb 4. 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I Woa�W a. n2g mve - o aqO d m V O N Obi VO O 01 QO CO W m O ` O E S V N sy$u Oe MY $V O «V+ O�pi f 9O04WNdIUOWW00 Qw CD CD 40 m CO PRM OTC Losses Excess $100.000 Valued June 38. 2006 Exuding Members who have is" but h ing new member- Broom Amoral MEM Excess AMMO Toad Excess Smelts 6cC n Claimant Paid On Smeria.ce $i50.000 1214M 40 200512006 1 41 Evans 34,432 04,601 139,033 38 Maguire 93,042 94,067 187,199 37,109 3 ROyna 49,212 61,609 110,812 28 Capehtli 86,983 109,903 198,696 48,886 33 Hockenberry - 126,857 125,857 265.869 497,828 762,897 85,995 2 Vandiver 65.069 162,875 228,944 78,944 Brown 53,358 59,590 112,948 Taylor 33,339 104,526 137,885 Tompkins 25,387 105,632 131,019 Bernard - 182,500 182,500 32,500 Thivewr 84,895 22,021 106,916 Newhard 46,106 150,672 196,978 48,978 COMM 108.929 99241 207,370 57,370 Partaka 33,923 126,907 150,830 10,830 451,106 1,014,264 1,485,370 226,622 200312004 2001/2002 200(92091 uatiViDtNii;tbn 22 Aurigamma 151,963 163,183 315,146 165,146 65,146 3 Clayton 141,555 141,555 46 Marsh 54,602 45,816 100,418 10 Sanders 65,388. 35,299 101,657 26 Jatmes 57,250 60,558 117,888 41 Byrd 292,536 4,730 297,266 147,266 47,266 8 Stannard 190,666 - 190,666 40,665 953,940 310,586 1,264,526 353,078 112,412 55 Pugh 133,112 133,112 55 Shaw 346,604 - 346,604 196204 96,604 55 Howard 109.286 109,286 52 Gooding 114,580 - 114,580 41 Eddins 95,277 6.503 101,780 tNowt kt Lampe 105,179 2,020 107,199 Fauth 131.896 17,993 149,691 Dundi 207,514 6.942 214,516 64,516 Berkowitz 101,019 128,179 229,189 79,198 Brannan 105,138 177,870 283,008 133,008 33,008 Sirianni 55,209 79,969 144,278 Fuller 211,624 2,499 214,123 64,123 Green 55,166 96,897 152,063 2,063 22 Stevens 321,211 6,679 327290 177,890 77,880 36 Frazier 293,296 8,437 301,733 151,733 51,733 16 Coley/Haggle 247,671 - 247,871 97,871 37 G. Rasmussen 267,976 0 287,878 137,978 37,976 Total 2,931,822 533,688 3,464,910 1,104,984 297,213 ttVe,�1Ntit -4wt of ooStIitILII Woods 417,371 417,371 267,371 167,371 17,371 Daughetry 220,455 220,455 70,455 Baker 160,992 - 160,992 10,992 Cbskson 49,901 65,343 118744 Suit 105,892 3,051 108,943 Came 65,855 37,414 103,269 Korb 79,071 32,582 111,653 Kelly 67,536 34,375 101,911 Lorenz 119,400 12.701 132,101 Moss 94,346 52,683 146.949 inlander 114,259 114,259 Haupt 78,155 978,516 1,056,871 906, 671 806,671 656,671 556,671 56,671 Ferris 164.423 21,051 185,474 35,474 DeMaoo 178,851 - 178,351 28,861 Clayton 180,748• - 180.746 30,746 Jabal 158,107 71,410 229,517 79,517 Maratino 170,454 295,975 485,529 315,529 215,529 65,E Mason 237,878 839,814 1, 075, 692 925 ,892 825,892 675.892 575,892 75.692 R.BralweII 282.121 1,101,513 1,353,894 1,233,694 1,133,694 983,694 883,694 383,894 H. Mccia39 299,148 - 299,145 149,145 49,148 W. 218,441 68,441 3,,403.41 8eeBrown 83,411 2 3,546,708 7018,120 4,122,791 3,198,305 2,399457 2.016,257 516.257 41 Kennedy 96,445 171,356 297,803 117,303 17.903 25 Miller , 60.931 44,073 104,904 40 Schneider 103,792 - 103,792 3 Hollingsworth 82,194 32,792 114,986 1999/2000 4 Green 134,277 5tr43 185,940 35,940 55 Terry 126,240 - 126,240 43 RDampier 302,451 - 302,451 152,451 52,451 42 K.White 218,657 3 218,680 68,880 34 Skipper/Cauf. 594,806 78,828 673,634 523,634 423,634 273,634 173,634 36 Harrison 145,863 81,262 227,125 77,125 38 Odom 414,184 112,286 526,450 378,450 276,450 128,450 26,450 TOTAL 2,279,740 572,245 2,851,985 1,352,063 770,338 400,084 200,084 a 48 4t4ttNe TOTAL 90,188 63,811 153,997 3.997 56,915 78,283 135,198 Young 24,701 82,292 106,993 Curtiss 92,287 66,690 158,977 8,977 TJBienne 284,415 - 284,415 134,415 34,415 D.Hatlxock 225.051 185,975 411,026 261,026 161,826 11,026 N.Russeli 457,720 - 457,720 307,720 207,720 57,720 D.Prohaka 257, 036 237,115 494,151 344,151 244,151 94,151 J.Clark 156, 594 479,667 636,201 486,281 388,261 239,281 136,261 1,844,905 1.193,833 2.838„798 1,546,547 1,033,573 399,158 136,261 1998/1999 19 Clayton 127.338 38,116 165,454 15,454 55 HazeIto 129,220 129,220 40 Manger 91,019 107,059 198,078 48,078 15 A.Vo9aert 732,200 717,488 1,458.688 1,309,688 1,209,688 1,059,688 959,888 459,688 28 6Femandez 513.981 - 513,981 363,961 263,981 113,981 13,981 TOTAL 1,593,758 872,663 2466,421 1,737,201 1,473,669 1,173,659 973,599 459,688 1597/1998 34 Woipert 170,115 170,115 20,115 40 Berry 195,674 195,574 45,574 18 Bertholow 100,488 100,488 7 R.Toet 393,062 813,514 1,206576 1, 056,576 956,576 806,676 706,578 206,576 TOTAL 850,239 813,514 1672,753 1,122,265 955,576 595,576 706,576 206,576 189611997 10 Campbell 78,498 27,009 185,507 34 Brown 194,588 - 194,588 44,588 TOTAL 273,086 27,009 300,095 44,588 12,772,876 7,532,051 20,304,927 10,985,851 7,729,874 5,178,644 4,032,847 1,182,521 Descrtplion of Losses Minim Nuua Mahood MELVA 41 Evans Lifting stretcher injured lower back 38 Magabs Felt pain is chest, admitted to hospital and had open heat surgery 3 Reyna Tdmining branches with chain saw cut left hand. ale Ito Tampa Hospital 28 Capeleta Struck by drunk driver, multiple Maras -poliice 33 Hockenberry Developed hypertensiordheart disease over comae of career - Floe 200412005 W atitio V NtU Yandlvsr hared back vicarage up tin Brown Slipped cleaning showers kipuiing shoulder Taylor Back pooped turning alt curb stop Tompkins Slipped on bank of Swale waterlog a damaged palm tree Bernard Lost control of car and hit tree. Deceased - police Thivensr Strained back handling a suspect= police Newhmd Was helping patient on stretcher when stretcher roiled and injured chat Comaro Sapped off trailer after loading mower, injured right shoulder and anger Partake Slipped of track and hurt lower back 2003/2004 22 Aurigemma Police officer suffered chest pains & shortness of breath et work 3 Clayton Injured atting 501b bags 46 Marsh taut tack wdoegsg a grader tare 10 Sanders Tripped an safety tread on sake and twisted balk grabbing safety rail 26 alines Loading logs, got hand pinched against truck 41 Byrd Trip & fail on uneven pavement Injured ankle and both (awes. 2002/2003 8 Shmaerd injured back pushing broken down city truck oft roadway 55 Pugh Fee off defective ladder bajsry 55 Shew Police officer- twain attack 55 Howard back injury ry 52 Girding Climbed overfsnce chasing a suspect, fed badly on right ankle TEAR HOM 2401129111 MAMMA 1998/1999 41 Eddins Working on road Skirkith mate work crew. Found a lick and diagnosed with hmme tusease OO ),WQG4$ Lampe slipped and fell on shoulder cutting limbs off tree Fauth Changing bulb in paridng lot, got a shcok and fell off ladder pencil injured back when *Upped & fell Beebowhz developed chest pains while worldng Brannan fell In hoi6landing on laftside Sirianni motor vehicle accident Fuller leaving work holding keys tripped in front of City Hall, keys slabbed hand Green bent over to pick up plum log & pulled lower back 22 Stevens 'Twisted back trying to stop a dispute between two third pardes 36 Frazier Trip & fall Miming both arms and legs 16 ColeWHaogie Coley fell off truck onto head. Haggle Injured knee supporting Coley's head unto medics arrived 37 G. Rasmussen Clint injured knee when fell on hying to take a suspect into custody. Woods No Details Daughehy No details Baler FELL W DITCH WHILE PLACING PLASTIC LINER IN Clarkson Normal work duties but hands in solvents causing dry, crusty bum tike patches Suit Was home in bed when chest started hurting, became a sharp pain. - Sheriff dept Caul Mille chasing suspect right knee gave ouL Irons While inspecting masses on jobeid string tangled round toot and fed on face Kefiy amt shuck by tractor bailerwbild rendering medical aid as a ffretghterian t Lorenz Twisted back while exiting vehicle Moss Fell Into watsrwlce working at der, reseed by helicopter, hypothermia Dillander Doing inventory, power want off and tripped over mower Wade Haupt CHEST DISCOMFORT a HOME ON FRI. BY THE PM IT ESCALATED & DROVE SELF TO W. MANATEE Farms GOT OVERHEATED DURING RESPONSE. FELT PAiN IN LEFT ARM, ifEGC &JAW Deuarco hurt back opening valve Clayton exiting van slipped on top step Julien hurt back while putt g limbs in pile Marafino Slipped is mud replacing 'water meter, kluging knee Mason brad lower back while working on trash truck RBrdweil Back and leg *train Ming 5 gaion bucket of fuel li MccIain While ioddng gate, gate bons snapped and gate fed on dart causing (ndiiple injuries W. Brown Cunt a mechanic, injured wdistwit6 a bar while working on a harm 41 Kennedy PICK UP BOX OF WET NEWSPAPERS, STEPPED ON UNEVEN GROOM) AS HE THREW IT IN THE 1 25 Miner Was balding dirt In dump truck, dump truck ended up In water 40 Schneider Hurt hack why fighting a Ike - Therm' 3 Hollingsworth Fell to lases on stairs 4 Green EMPLOYEE S TUMBLED ON STEPS AND FELL ONTO TRASH CANS ON PORCH AND INJURED HER ill 55 Terry Firefighter-heart & lung 43 R.Dampler Stepped oft a grader, missed step, injuring heft knee, elbow. hand & head 42 K.White Injured imams In auto accident 34 SkippwSCauf. Vehicle crossed 1-4 median and hit chats ambulance head-on- mudtiple injuries 36 Hsrdson Tripped entering old city hall, k4urI g toe and shoulder 36 Odom Chat suffered asthma attack, brought on by smoke, while working on a House the 8 Willis hurt shoulder and lower back cutting trees 46 Wilson Pulled sight knee while getting up from Ming on Boor 33 Young Developed hypertension during course of work -Firefighter 25 Curtiss while getting out of rani truck, missed step and hurt left arm catching himself 10 T.Etlerore Pain 1t bade and tight Mg when lifting trash can. 13 D.HaOnooc k Suffered multlpls injuries when ear ran atop sign Ming dints vehide 4 N.Rusaei Test driving fire tuck, ran off rod into a ditch and was ejected from the vehicle 34 D.Prohaska Ladder collapsed while dmL Was dea nirg out enters 49 J.Clark Injured lower tack moving couch from front of drmpater 19 Drayton While worldng on back of truck fen tail in back and leg 55 Hazen* No Details 40 Manger While walking through doorway felt through floor 15 A.Vot kat injured right shoulder when mower fell on itwhile unloading from truck 28 G.Fsrnadez Injured back digging with a shovel TOTAL 1997/1998 34 Woipert Stepped on 2 litre bottle and fen hurting right hip 40 Berry Pulled bag out of dumpater, injuring neck and shoulder 18 Bartholow Felt sharp paw in neck and shoulder while latching seat bolt 1996/1997 7 RTOaI Injured back advancing flea hose. 10 Campbell Hurt back due to repeated heavy lifting 34 Brorm Stepped on swing step on gradail and slipped off, twisting tat levee PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 REGULAR AGENDA SUMMARY 6. Amendment to By -Laws A. Aggregate Excess of Loss Fund Insurance (Optional vs. Mandatory) Proposed By -Laws changes: Ross Furry Current By -Law, Article 10.2. Aaareaate Excess Insurance: The Pool will purchase Aggregate Excess Insurance from underwriters of insurance, insurance companies and /or Lloyd's of London, approved by the Board of Directors, or any committee appointed by the Board for such purpose, in such amounts which shall be approved by the Board of Directors and underwriters, based upon but not limited, to the current assets, risk analysis, and loss history of the Pool. The purchase of Aggregate Excess Insurance does not, and is not, intended to waive sovereign immunity under Florida law. Proposed Change to Article 10.2. Aaareaate Excess Insurance: The Pool will may purchase Aggregate Excess Insurance from underwriters of insurance, insurance companies and /or Lloyd's of London, approved by the Board of Directors, or any committee appointed by the Board for such purpose, in such amounts which shall be approved by the Board of Directors and underwriters, based upon but not limited, to the current assets, risk analysis, and loss history of the Pool. The purchase of Aggregate Excess Insurance does not, and is not, intended to waive sovereign immunity under Florida law. Current By -Law, Article 10.4. Losses: The Risk Management Pool (Loss Fund), the Specific Excess Insurance and aggregate Excess Insurance shall provide payment for covered losses in any one fiscal year for members up to the limits approved by the Board of Directors. Should losses in any one fiscal year extinguish all available funds provided by the Pool then the individual Member or Members whose judgment or settlement of claim has been perfected by Florida law shall be responsible for any additional payment. The Pool shall make payments in the order in which the judgments against the Pool have been entered or settlement of claims have been reached. Membership in the Pool shall not preclude any Member from purchasing any insurance coverage above those amounts purchased by the Pool. Proposed Change to Article 10.4. Losses: The Risk Management Pool (Loss Fund), the Specific Excess Insurance and Aggregate any optional Aaareaate Excess Insurance purchased, shall provide payment for covered losses In any one fiscal year for members up to the limits approved by the Board of Directors. Should losses in any one fiscal year extinguish all available funds provided by the Pool then the individual Member or Members whose judgment or settlement of claim has been perfected by Florida law shall be responsible for any additional payment. The Pool shall make payments in the order in which the judgments against the Pool have been entered or settlement of claims have been reached or other manner established at a meetino by the Board. Membership in the Pool shall not preclude any Member from purchasing any insurance coverage above those amounts purchased by the Pool. The recommended changes are a result of the current insurance market and have been unanimously endorsed by the Executive Committee and Insurance Advisor. A super majority vote is required for approval. Board Action: t_Approved Denied Deferred Other Serving Florida Public Entities September 7, 2006 To All PRIV' Board Members & Alternates From: Judy Hearn, Assistant Ex. Director Secretary, PRM Board of Directors Re: Proposed By -Laws Change During the upcoming Board of Directors Meeting on September 15th the below outlined changes to PRM By -Laws will be presented to the Members for action. Pursuant to the By -Laws, a super- majority of the PRM membership must be present and approve a change to the By -Laws. Therefore, 34 of 50 Members will be required to act on this item. Current By -Law, Article 10.2. Aggregate Excess Insurance: The Pool will purchase Aggregate Excess Insurance from underwriters of insurance, insurance companies and/or Lloyd's of London, approved by the Board of Directors, or any committee appointed by the Board for such purpose, in such amounts which shall be approved by the Board of Directors and underwriters, based upon but not limited, to the current assets, risk analysis, and loss history of the Pool. The purchase of Aggregate Excess Insurance does not, and is not, intended to waive sovereign immunity under Florida law. Proposed Change to Article 10.2. Aggregate Excess Insurance: The Pool will may purchase Aggregate Excess Insurance from underwriters of insurance, insurance companies and/or Lloyd's of London, approved by the Board of Directors, or any committee appointed by the Board for such purpose, in such amounts which shall be approved by the Board of Directors and underwriters, based upon but not limited, to the current assets, risk analysis, and loss history of the Pool. The purchase of Aggregate Excess Insurance does not, and is not, intended to waive sovereign immunity under Florida law. Current By -Law, Article 10.4. Losses: The Risk Management Pool (Loss Fund), the Specific Excess Insurance and aggregate Excess Insurance shall provide payment for covered losses in any one fiscal year for members up to the limits approved by the Board of Directors. Should losses in any one fiscal year extinguish all available funds provided by the Pool then the individual Member or Members whose judgment or settlement of claim has been perfected by Florida law shall be responsible for any additional payment. The Pool shall make payments in the order in which the judgments against the Pool have been entered or settlement of claims have been reached. Membership in the Pool shall not preclude any Member from purchasing any insurance coverage above those amounts purchased by the Pool. 3434 Hancock Bridge Parkway. • Suite 203 • Fort Myers, Florida 33903 (239) 656 -4666 • (800) 367 -1705 • Fax (239) 656 -1066 September 7, 2006 To All PRM Board Members & Alternates Re: Proposed By -Laws Change Page 2. Proposed Change to Article 10.4. Losses: The Risk Management Pool (Loss Fund), the Specific Excess Insurance and :: _ _ = any optional Aggregate Excess Insurance purchased, shall provide payment for covered losses in any one fiscal year for members up to the limits approved by the Board of Directors. Should losses in any one fiscal year extinguish all available funds provided by the Pool then the individual Member or Members whose judgment or settlement of claim has been perfected by Florida law shall be responsible for any additional payment. The Pool shall make payments in the order in which the judgments against the Pool have been entered or settlement of claims have been reached or other manner established at a meeting by the Board. Membership in the Pool shall not preclude any Member from purchasing any insurance coverage above those amounts purchased by the Pool. The recommended changes are a result of the current insurance market and has been unanimously endorsed by the Executive Committee and Insurance Advisor. Please make every effort to attend this important meeting. PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 REGULAR AGENDA SUMMARY 7. Approval to Not Purchase Aggregate Excess of Loss Fund Insurance Ross Furry Should the Board by super majority vote elect to change By -Law Articles 10.2. and 10.4. from a mandatory purchase to an option to purchase Aggregate Excess of Loss Fund Insurance, it is recommended that the Pool does not purchase such insurance for this renewal term. A simple majority vote is required for approval of this recommendation. Boyprd Action: Approved Denied Deferred Other 8. Approval to Restrict Surplus Funds for Losses in Excess of Loss Fund Ross Furry Should the Board authorize an 18 -month Coverage Document term with a Loss Fund of $22,500,000 and not purchase any aggregate excess of Loss Fund insurance, it is recommended that the Pool authorize $2,250,000 be set aside as a restricted asset from surplus funds for payment of member claims in excess of the Loss fund. This restriction will be reviewed by the Pool's accountant and actuary annually and released in part or in whole upon their recommendation and Board approval. A simple majority vote is necessary to approve this recommendation. Board Action: Approved Denied Deferred Other 7. AGGREGATE EXCESS LOSS FUND INSURANCE Ross D. Furry rom: Karen Fontenot [karen459 @bellsouth.net] ent: Wednesday, August 30, 2006 4:11 PM o: Ross D. Furry Subject: Analysis of Accumulated Members' Equity Attachments: Analysis of Accumulated Members Equity.xls Analysis of cumulated Member Ross, I have attached an Excel spreadsheet with two worksheets as follows: 1. Statement of Operations - This workpaper shows the results of operations for the last three years including the ratio to revenues of each expense category. As you can see, the most significant decreases are in claims and reinsurance expenses. 2. Loss Ratios - This workpaper shows the loss ratios for the last three years, in total and for each line. The most significant change is in workers' compensation. Per my discussion with Ron Hirsch at IIC after he issued the actuarial report, this is mostly as a result in the changes in workers' compensation law and a large decrease in the average paid claim. I questioned him about this because the ultimate losses in 2003 and 2004 had increased approximately $1.4 million (for all lines) in 2005. He recognized this but felt confident the models were working properly and felt these years may be outliers. Let me know what you think. If you would like more information or would like to discuss )his, please give me a call. Talk to you soon. Karen Fontenot, CPA (407) 461 -5747 1 Public Risk Management of Florida Calculation of Ultimate Loss Ratio Years Ended September 30, 2005, 2004 and 2003 2003 2004 2005 Total All Lines Losses Paid 8,642,916 7,171,842 2,886,304 Loss Reserves 1,514,048 2,282,962 3,424,812 IBNR 1,303,854 2,144,103 3,110,350 Ultimate Losses 11,460,818 11,598,907 9,421,466 Contributions (1) 14,390,294 18,082,144 17,658,040 79.64% 64.15% 53.36% Workers' Compensation Losses Paid 5,941,613 4,278,878 1,687,386 Loss Reserves 908,212 1,623,930 2,049,031 IBNR 597,261 976,253 1,710,150 Ultimate Losses 7,447,086 6,878,861 5,446,567 Contributions (1) 14,390,294 18,082,144 17,658,040 51.75% 38.04% 30.84% Auto Liability Losses Paid 1,213,653 979,254 1,063,067 Loss Reserves 1,179,738 973,440 758,208 IBNR 209,113 303,882 528,810 Ultimate Losses 2,602,504 2,256,576 2,350,085 Contributions (1) 14,390,294 18,082,144 17,658,040 18.09% 12.48% 13.31% General Liability Losses Paid 1,746,982 1,874,607 1,303,932 Loss Reserves 1,882,580 1,873,944 2,046,600 IBNR 496,726 857,922 871,390 Ultimate Losses 4,126,288 4,606,473 4,221,922 Contributions (1) 14,390,294 18,082,144 17,658,040 28.67% 25.48% 23.91% Property Losses Paid 691,345 1,524,955 804,519 Loss Reserves 6,776 30,577 330,661 IBNR 754 6,046 Ultimate Losses 698,875 1,561,578 1,135,180 Contributions (1) 14,390,294 18,082,144 17,658,040 4.86% 8.64% 6.43% (1) Include premium income plus investment income less reinsurance expense Accumulated Members' Equity at End of Year EA 8 0 CWO Accumulated Members' Equity at Beginning of Year 3WOONI13N N (ND CO O 0o ER 01 0 01 N 03 QD O 03 0) N A 0 01 - EA 0 0_ G) N z ° --u C7 D ��m�?.wD �-CDD v, m -+ 0 3 -I 0 0 3 -1 3x g ,g DI �'tDcz Gw > Ow -0 x ° O3 = ro 13 m a 73 0av z 0 a y 0 0 X m m m 00 p 0D a�13 003< 3m m3 mz 3z CD m X. CD < w C 0 = m z U' C 3 ® m m $� W 1n W 03 CO 00 N N co J 0 03 0 Ja CO 00 N -a A C CO Co A A N W OdN^J CO W 0 CO i i 01 N 0 8 01 - ppi ... C0o ccOOp)) p�p61�CO�1 00.10 0) . (000) - 0) N N CCOO — W01Ja0 0) 10 A O _CO -0) 0 N OO CO ? 01 *T° W 0 N 0) N CO CO A W W ``� - CO co * O` T 0 O 8 P i a EA N N N O pp pp pip -,1 0 N N NJ S1 00N 9.41 00000)' 010001. 00)) - 4(0-44 00)0,0)0) 01 01 0 A A 01 co 0 N ? 0 3°cT°a°3° O 0 73 a CD 3 0 C m 9. N O to 73 a Oft m co Cm CO to o N O O W w 3 m 3 0 A ro 0f m m� K a a 4 f y 7C to - 7 0 >v O IV V3 3 0 1I)) ^3° PI 3 a 0D0 _ 33 in C O e Wa 3: !P 3 a ro H m C 8. RESTRICT SURPLUS FUNDS FOR LOSSES IN EXCESS OF LOSS FUND Ross D. Furry from: Karen Fontenot [karen459 @bellsouth.netj ent: Wednesday, August 30, 2006 4:11 PM To: Ross D. Furry Subject: Analysis of Accumulated Members' Equity Attachments: Analysis of Accumulated Members Equity.xls Analysis of :cumulated Member Ross, I have attached an Excel spreadsheet with two worksheets as follows: 1. Statement of Operations - This workpaper shows the results of operations for the last three years including the ratio to revenues of each expense category. As you can see, the most significant decreases are in claims and reinsurance expenses. 2. Loss Ratios - This workpaper shows the loss ratios for the last three years, in total and for each line. The most significant change is in workers' compensation. Per my discussion with Ron Hirsch at IIC after he issued the actuarial report, this is mostly as a result in the changes in workers' compensation law and a large decrease in the average paid claim. I questioned him about this because the ultimate losses in 2003 and 2004 had increased approximately $1.4 million (for all lines) in 2005. He recognized this but felt confident the models were working properly and felt these years may be outliers. Let me know what you think. If you would like more information or would like to discuss this, please give me a call. Talk to you soon. Karen Fontenot, CPA (407) 461 -5747 1 Public Risk Management of Florida Calculation of Ultimate Loss Ratio Years Ended September 30, 2005, 2004 and 2003 2003 2004 2005 Total All Lines Losses Paid 8,642,916 7,171,842 2,886,304 Loss Reserves 1,514,048 2,282,962 3,424,812 IBNR 1,303,854 2,144,103 3,110,350 Ultimate Losses 11,460,818 11,598,907 9,421,466 Contributions (1) 14,390,294 18,082,144 17,658,040 79.64% 64.15% 53.36% Workers' Compensation Losses Paid 5,941,613 4,278,678 1,687,386 Loss Reserves 908,212 1,623,930 2,049,031 IBNR 597,261 976,253 1,710,150 Ultimate Losses 7,447,086 6,878,861 5,446,567 Contributions (1) 14,390,294 18,082,144 17,658,040 51.75% 38.04% 30.84% Auto Liability Losses Paid 1,213,853 979,254 1,063,067 Loss Reserves 1,179,738 973,440 758,208 IBNR 209,113 303,882 528,810 Ultimate Losses 2,602,504 2,256,576 2,350,085 Contributions (1) 14,390,294 18,082,144 17,658,040 18.09% 12,48% 13.31% General Liability Losses Paid 1,746,982 1,874,607 1,303,932 Loss Reserves 1,882,580 1,873,944 2,046,600 1BNR 496,726 857,922 871,390 Ultimate Losses 4,128,288 4,606,473 4,221,922 Contributions (1) 14,390,294 18,082,144 17,658,040 28.67% 25.48% 23.91% Property Losses Paid 691,345 1,524,955 804,519 Loss Reserves 6,776 30,577 330,661 IBNR 754 6,046 Ultimate Losses 698,875 1,561,578 1,135,180 Contributions (1) 14,390,294 18,082,144 17,658,040 4.86% 8.64% 6.43% (1) Include premium income plus investment income less reinsurance expense Accumulated Members' Equity at End of Year 69 fn z Z O 0 0 co 0 CD m a D ro m of m 1 3 o �' 3 Er z m — m fg E. IS O °' E m m - a --I 3 v X rn 0 m U o 3 Z 0) m 1v m c m o O O . D N-0 03 an 3< o 3 m m �' 3 m z 0 W 3 z rn `° < m5, m 7z1 CI ro c m v w C c 3°' ®1� m cm n $ C m to Co 0 ea 5' 5' ca 0 m ni 3 I N g Cp N v w (0 (71 co (71 S co al A (s 00 N 0 0 c?° 00 07 -co W N (a J (P C71 03 (n co A O 0) v �.I .l 0 cn (4N0- ? C(71 400(00) A A N W c.0 43 00 (4 CO 00)4 -avA 00 8 co 8 8 ER N) 8 N -1 0 r9) 0 N O 00 N CS0 CO SZ N N N O -op v 0 N N 00 - co c CO ^4 U1 CO � N O -1o033NCO�1 03 s N 01100001A00)) JC(OOv (71 0 CO CO (4 0) 0 0) C0 C0 0) 07 07 W A A A CA 03 0(0(0(0 O N A 8 O O co O 0) 0) o 0 a roSD c CI) ro M a Q Sr. TO ro N ITO are 3 & m CD 0 O oma 00x7 �' p., 0 m 2n - c 0 33m c+ a c 8 eye w a 3: to m g 7:Iaro w G o. 3 m a c on c ro CD 0 N O O w ro 2 3 00 C ID 0 • PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 REGULAR AGENDA SUMMARY 9. Use of Surplus Funds to Carry Members Premiums For 10/1/07 to 3/30/08 Due and Payable 10/1/06 to Carriers Ross Furry In order to assist Members in the payment of their respective share of insurance premiums for an eighteen month term that are due and payable in full on October 1, 2006, it is recommended that the Board approve the use of surplus funds to pay for the pro -rated premiums for 10/1/07 to 3/30/08. Each Member would receive their own invoice for payment due on 10/1/07 and 1/1/08 and execute a letter agreement to make such payments when due. This would allow the Member to budget the known account payable for premiums in their FY 2007/08 budgets, as well as renewal costs for the next PRM 12 -month renewal, effective 4/1/08- 3/30/09. Each Member has the option to make premium payment in full or utilize this payment option. No interest cost to be added is also recommended. Preliminary premium costs in total for the 18 -month coverage period are as follows: Coverage Document (MARP) $6,583,000 Workers Comp (Safety National) 2,214,000 Excess Liability 412,500 Boiler & Machinery 201,000 9,410,500 ( =) Divided by six (6) Quarters = 1,568,417 (x) Multiplied by six (6) Quarters = 3,136,834 Bas these preliminary numbers, it is recommended that the Board approve 3,250,00_0 for this purpose as outlined. Upon completion of all premium costs associated with an 18 -month term, an accounting by Member for this account payable will be provided to our CPA and Board. A simple majority is required for approval of this recommendation. Board Action: Approved Denied Deferred Other 9. SURPLUS FUNDS TO SUPPLEMENT MEMBERS PREMIUMS FOR 10/1/07 TO 3/30/08 Ross D. Furry From: Karen Fontenot [karen459 @bellsouth.net] ent: Wednesday, August 30, 2006 4:11 PM To: Ross D. Furry Subject: Analysis of Accumulated Members' Equity Attachments: Analysis of Accumulated Members Equity.xls Analysis of :cumulated Member Ross, I have attached an Excel spreadsheet with two worksheets as follows: 1. Statement of Operations - This workpaper shows the results of operations for the last three years including the ratio to revenues of each expense category. As you can see, the most significant decreases are in claims and reinsurance expenses. 2. Loss Ratios - This workpaper shows the loss ratios for the last three years, in total and for each line. The most significant change is in workers' compensation. Per my discussion with Ron Hirsch at IIC after he issued the actuarial report, this is mostly as a result in the changes in workers' compensation law and a large decrease in the average paid claim. I questioned him about this because the ultimate losses in 2003 and 2004 had increased approximately $1.4 million (for all lines) in 2005. He recognized this but felt confident the models were working properly and felt these years may be outliers. Let me know what you think. If you would like more information or would like to discuss )his, please give me a call. Talk to you soon. Karen Fontenot, CPA (407) 461 -5747 1 umulated Members' Equity at End of Year 69 O (0 co fn 69 Accumulated Members' Equity at Beginning of Year 00 N N) 3WOON113N O 00 8 z O _z 0 -0 cn > z 0 G) 3 m CD m z c m 0) 0) N A 03 00 3WOONI ONI1K213dO W 01 v 01 m 2R Q 0 0 cn 730 � _3.373 o 3• -g' o 3 — 133 m� v, z SI m z x -0 7 a 0 -0 m p 0 ;7 CD s 0 W X m e co m m' 3 m z g x z m?• m a7 two ur m v co < c co 0< C CD � 0 0 N_ O 0) 03 ^J 07 A A N W 8w0m 8 69 O s 4- m Hi Cn +—+f0O ON) - 0) p4 03 -4 0 co bW 01Am O) N) � � O) i 0 A 0 N 07 O 4) A W 0) tea in co O O 8 acz OCOO 4A O p-� --J 0 N N OgD N 0 3 j 0 63 00 W CD c0i1 03 (0 07 8 0 cT° 0) 3 at a 0 0 a. m ro 3 to m!i v c K a 0./ n 3 "4 w ' 3 at t0 3 1g al 0 0 = d 3 0. o .". 7 A 0 Oc 1'4 lb C 00 3 3 w A C Iv 8" W O 3 0 0 C 7J 0 0 co V! c3 m 3 o) a_ 0 to o 't ti N 0 0 W -0 IV CD 30 fro 0 0 PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 REGULAR AGENDA SUMMARY 10. Presentation of Allocation Policy for Named Windstorm Losses Excess of Aggregate Policy Limits Ross Furry The attached proposed policy is presented for discussion, revision, and approval to process Named Windstorm claims where total losses are expected to exceed available limits. A simple majority vote is required for approval of this item. BoOrd Action: V Approved Denied Deferred Other 10. NAMED WINDSTORM CLAIM PROCESS DRAFT PRM NAMED WINDSTORM CLAIM PROCESS DRAFT In the event of a hurricane that causes damage that exceeds the property limits, payments will have to be shared between the members affected. This will happen in three stages: 1. Soon after the loss takes place the CAT adjuster (a combination of GB & Crawford initially, then just Crawford once the first $2.5mm of claims have been adjusted) will visit all the affected buildings and prepare a scope of damage estimate. Once the deductible has been taken into account, the net loss will be prorated by member and advances requested based on a percentage of the loss. This may range from 25% to 75% based on the total claim expected, and the limits available. It is important that money be paid out quickly. It is also important that members are not paid more than they are allotted in the final adjustment at the conclusion of the claim. No one will want to be asked to pay funds back but may have to do so once all claims are closed. 2. After some 6 to 9 months much of the adjustment will have been completed. There will be larger structures still needing attention. In addition, new damages will still be being discovered and reported. Increases in initial adjustment figures will take place, some increasing significantly, once code and other issues are looked into. We will need to keep a close look on the total experience of each member, adjusting the pro rata share regularly between the members. If more monies are required at this time, the latest share will be used to determine what is available to each member. It may be best to pay no more than 80% to 90% of the limits available until the final adjustment is made. If the loss exceeds the limits available by a significant amount, the carriers may well tender their limits and close their files. IMPORTANT — if this is the case, we will want to negotiate with the carriers what exactly their payments are for. It would be better if they include costs such as engineering fees, BI accounting fees etc. in their loss payment as FEMA may not reimburse these items. 3. Once the claim is finalized, and the loss by member is known, we can calculate each member's pro rata share as follows: Take each member's total loss, net of the deductible, as a percentage of the total loss. They then receive this percentage of the limits available. Any overpayments based on the final calculations must be returned by the member for redistribution. Example of Allocation of Limits To Members with Hurricane Losses When Expected Losses Exceed Coverage Limits Total Hurricane Losses Total Hurricane Limits Member #1 Total Loss Member #2 Total Loss Member #3 Total Loss Member #4 Total Loss Members % of Available Limits ($100,000,000) Member #1 Member #2 Member #3 Member #4 Maximum Loss Payments Member #1 Member #2 Member #3 Member #4 29.17% 20.83% 37.50% 1250% 100.00% $120,000,000 $100,000,000 $ 35,000,000 after deductible $ 25, 000, 000 " $ 45, 000, 000 " $ 15,000,000 " $120,000,000 it it 35, 000, 000 4- 120, 000, 000 25, 000, 000 ± 120, 000, 000 45, 000,000 ÷ 120, 000, 000 15, 000, 000 _ 120, 000, 000 $ 29,170,000 $ 20, 830, 000 $ 37, 500, 000 $ 12, 500, 000 $100,000,000 Each Member with reported losses, in excess of deductibles, and the Executive Committee will receive a monthly report indicating the allocation percentages by Member for the total event Toss. PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 REGULAR AGENDA SUMMARY 11. Appointment and Contract Approval of Roper & Roper, P.A. as PRM General Counsel Ross Furry At the May 23rd Executive Committee meeting, the Committee concurred with the Executive Director's recommendation to retain Don Roper as PRM General Counsel. Attached for Board approval is the representation contract for legal services. A simple majority vote is required for approval on this item. Board Action: Approved Denied Deferred Other REPRESENTATION CONTRACT THIS REPRESENTATION AGREEMENT (hereinafter the "Agreement ") is made and entered into by and between PUBLIC RISK MANAGEMENT OF FLORIDA, INC. (PRM), and the law firm of ROPER & ROPER, P.A., a Florida Professional Association. WITNESSETH: WHEREAS, ROPER & ROPER, P.A. is a professional association made up of attorneys duly licensed, authorized, and admitted to practice the profession of law in the State of Florida, and WHEREAS, PRM desires to retain the legal services and representation of ROPER & ROPER, P.A. and its attorneys for a period beginning on October 1, 2006 to September 30, 2007, upon and subject to the following terms and conditions, and WHEREAS, the parties desire to reduce to writing their agreements herein, and NOW THEREFORE, in consideration of the premises and of the mutual covenants and agreements hereinafter contained, the parties do hereby mutually covenant and agree with each other as follows: 1. PRM. does hereby retain ROPER & ROPER, P.A. for a period beginning October 1, 2006 and ending on September 30, 2007, or as may be extended by mutual consent of the parties. 2. During the term of this Agreement, it is agreed that ROPER & ROPER, P.A. shall represent PRM. in all the legal matters which PRM deems, in its sole discretion, may require the services of ROPER & ROPER, P.A., except for those matters that (a) ROPER & ROPER, P.A. may have a conflict of interest, or (b) are outside of ROPER & ROPER, P.A.'s area of expertise, in which either event and at the request of PRM, ROPER & ROPER, P.A. will assist PRM in securing competent legal counsel for any such matter. 3. ROPER & ROPER, P.A. agrees to devote a sufficient amount of its time and the time of its lawyers to adequately, properly and promptly represent PRM in connection with and as required by the legal matters for which PRM requires ROPER & ROPER, P.A.'s services during the term of this Agreement. 4. For the time period of October 1, 2006 through September 30, 2007, ROPER & ROPER, P.A. shall be compensated by PRM for all legal services rendered, with the exception of those services and matters identified in paragraph 5 below and also excluding any out -of- pocket costs addressed in paragraph 7 and 8 below, a monthly retainer base attorney's fee of Seven Hundred Fifty and No /100 Dollars, ($750.00), which shall be due and payable on the first of each month. 5. In addition to the monthly base retainer fee due ROPER & ROPER, P.A., under paragraphs 3 and 4 above, PRM shall compensate ROPER & ROPER, P.A. at the rate of $125.00 per hour for all attorney time rendered in connection with any litigation and/or arbitration defended or pursued on behalf of PRM. which is not covered by its insurance, with the exception of property damage subrogation actions pursued or prosecuted on behalf of PRM and ROPER & ROPER, P.A. For any litigation defended or pursued by ROPER & ROPER, P.A. on behalf of PRM that is covered by its insurance, ROPER & ROPER, P.A. -2- shall be compensated by PRM's insurance carrier for all attomey time at a rate of $ 125.00 per hour or such other rate as negotiated between ROPER & ROPER, P.A. and said insurance carrier, plus all expenses and costs incurred in connection with such litigation. This paragraph, and Representation Contract, does not apply to property damage subrogation claims or lawsuits which ROPER & ROPER, P.A. pursue or prosecute on behalf of PRM. 6. Subject to the terms of paragraph 5 of this Agreement, ROPER & ROPER, P.A., shall provide PRM with monthly statements for each matter undertaken by ROPER & ROPER. P.A., which shall reflect all services rendered for each matter, as well as ROPER & ROPER, P.A.'s contemporaneous, actual and accurate time records for all legal services rendered pursuant to this Agreement. These statements may be used by parties from time to time to reevaluate the amount of the monthly base retainer fee paid to ROPER & ROPER, P.A. 7. In addition to the monthly base retainer fee due ROPER & ROPER, P.A. under paragraphs 3 and 4 above, PRM shall pay for all expenses, fees and costs incurred to retain the services of expert witnesses, court reporters, process service, clerk fees and other expenses incurred to pay filing fees with various judicial and administrative agencies in connection with any arbitration, judicial, administrative or other claims brought on behalf of PRM or against PRM. Prior to any expenditure being made in excess of $100.00, and where time reasonably permits, ROPER & ROPER, P.A. agrees to obtain approval from PRM, including all computer research. All necessary computer research shall be reimbursed at -3- $25.00 per daily research session, regardless of the number of minutes researched per daily research session. 8. In the event ROPER & ROPER. P.A. is required to institute or defend any legal action or arbitration proceeding on behalf of PRM which results in its entitlement to recover attorney's fees in the proceeding or action, PRM shall be entitled to first be reimbursed by the losing party for all hourly attorney's fees, costs and expenses incurred in connection with such action or arbitration. 9. If any dispute or controversy between the parties arises out of or relates to this Agreement, through breach thereof, or any performance or obligation due hereunder, and if the dispute cannot be settled through direct negotiation, the parties agree first to try in good faith to settle the dispute by mediation to be administered by the Florida Rules of Civil Procedure governing mediations. The parties shall mutually agree on a qualified, experienced mediator located in Lee County, Florida. 10. Any controversy or claim arising out of or relating to this Agreement, the breach thereof, or the parties rights and obligations arising hereunder, not settled at mediation, shall be resolved and determined by binding arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules, and judgement on the award rendered by three (3) arbitrators shall be entered in any court having jurisdiction thereof. The administrative costs of the American Arbitration Association shall be borne equally by the parties and each party shall bear its own costs and expenses associated with -4- any such arbitration under this provision. 11. Venue for any and all legal actions and arbitration proceedings arising out of or relating to this Agreement, the breach thereof or the parties rights and obligations arising hereunder, shall exclusively lie in Lee County, Florida. This Agreement and the parties rights and obligations due hereunder are governed by the laws of the State of Florida. 12. The parties agree that, during the first year of this Agreement, it may only be terminated for good cause after 30 days prior written notice. Thereafter, this Agreement may be terminated with or without good cause upon 30 days prior written notice. In the event either party terminates this Agreement at any time, with or without cause, all attorney's fees, costs and expenses due ROPER & ROPER, P.A. shall be paid in full prior to the effective date of termination. 13. This Agreement is the entire agreement of the parties, and no other agreement or modification on this contract, expressed or implied, shall be binding on either party unless same shall be in writing and signed by both parties. This Agreement may not be orally modified. Any modification must be in writing, expressly titled a modification or addendum to this contract, attached to this contract, and signed by both parties. 14. This Agreement shall be binding upon the parties successors and assigns. 15. Any waiver of any breach or violation of either party's obligations under this Agreement shall not be construed as a continuing waiver or consent to any subsequent breach or violation. -5- 16. This Agreement has been fully negotiated in an arm's length transaction and it shall not be construed against either party. Each party has had the opportunity to employ independent legal counsel and seek the advice from such counsel with respect to this Agreement, its obligations, terms and implications. Neither party has relied upon the other party prior to signing this Agreement. IN WITNESS WHEREOF, the parties hereto have caused their hands and seals to be affixed hereon this day of , 2006. ROPER & ROPER, P.A. PUBLIC RISK MANAGEMENT OF FLORIDA, INC. By: By: Donovan A. Roper, President Ross Furry, Executive Director PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 REGULAR AGENDA SUMMARY 12. Approval of Insurance Advisor Contract Ross Furry Over the past six months, Mr. Tobey, acting in his capacity as Insurance Advisor to the Pool, has provided invaluable assistance in negotiating with various carriers in preparation of this year's program renewal. As evidenced by Mr. Tobey's presentation today, it should be evident that his knowledge, professional experience and relationships with the markets have been very helpful in establishing this year's placement of insurance and renewal terms. Mr. Tobey's present contract expires as of September 30th. Based upon Mr. Tobey's performance, the Executive Director recommended to the Executive Committee at their 9/1/06 meeting that the Board extend Mr. Tobey's contract for an additional one year period of time. The annual fee for Mr. Tobey's services was established at $218,000 annually, or $18,000 per month. The A. J. Gallagher - Orlando office has agreed to reduce their revenues from the PRM renewal by $218,000 in order for PRM to fund this contract without any additional cost to the Pool. Along with carrier negotiations, Mr. Tobey's responsibilities will include recruitment and retention of members, assistance in claims handling particularly windstorm losses, maintaining market relationships, and providing advice to the Executive Director. The Executive Committee approved this recommendation for consideration by the full Board. A simple majority vote is required to approve this action. Bo rd Action: Approved Denied Deferred Other 03/23/2006 03 :45 2397689107 GALLAGHER AGREEMENT FOR PROFESSIONAL SERVICES OF AND BETWEEN GLENN R. TOBEY: INSURANCE ADVISOR AND "PRM" — PUBLIC RISK MANAGEMENT OF FLORIDA This Agreement made the 10th day of March, 2006, by and between, Public Risk Management of Florida (hereinafter "Client ") and Glenn R. Tobey, a Florida Licensed Insurance Agent (hereinafter "Insurance Advisor "). WITNESSETH That in consideration of the mutual covenants and agreements passed at the March 10, 2006 Board Meeting, the parties hereto agree as follows: rHUL bl 1) The Client does hereby employ and retain the Insurance Advisor for and during the period commencing from April 1, 2006 to September 30, 2006, a period of six months, for the provision of advising Client on all Property and Casualty Insurance matters, including but not limited to, claims adjusting involvement. This is to include all relevant meeting and discussions with insurance companies and existing insurance broker, including, but not limited to, all other outside agencies and/or companies and/or corporations. 2) The Insurance Advisor accepts such employment and retainer and agrees to render and perform all services necessary and proper for the continued structure and interests of the Client to the extent required by Client and agreed to by the Insurance Advisor and designated as responsibilities to be assumed by Insurance Advisor. 3) The Client shall pay the Insurance Advisor as compensation for the services to be performed as herein described, the sum of $120,000.00 for a six month period of time. The Client shall pay a deposit of $20,000.00 on or before April 1, 2006 upon the execution of this Agreement and additional payments of $20,000.00 will be paid monthly on or before the 1" day of each month commencing on April 1, 2006. Payments to be made April, May, June, July and August, 2006. The Client may cancel the Agreement at any time with a 60 day written notice to the Insurance Advisor. 4) The Client and Insurance Advisor agrees that no other compensation shall be paid. In witness whereof, the parties hereto have hereunto set their hand and seal the day and year first written above. Glenn R. Tobey Insurance Advisor Ross Furry Q / Executive Director Public Risk Management of Florida ADDENDUM TO AGREEMENT FOR PROFESSIONAL SERVICES DATED MARCH 10, 2006 1) Indemnification. "Insurance Advisor agrees to indemnify, hold harmless and provide a legal defense to Client from any and all claims, losses, actions, causes of action, judgments, awards, costs, damages or exposures arising out of Insurance Advisor's services and/or activities conducted pursuant to the Agreement for Professional Services dated March 10, 2006, due in whole or in part to the actions and/or omissions of the Insurance Advisor, or due in whole or in part to the actions and/or omissions of employees, representatives, agents or servants of Client, or due to the sole negligence of either part to said Agreement for Professional Services." 2) Professional liability insurance. "Insurance Advisor agrees and covenants to have in place at all times pertinent to the Agreement for Professional Services dated March 10, 2006 a policy of professional liability insurance providing either Errors and Omissions, or Directors and Officers, professional liability insurance coverage for Insurance Advisor in an amount which is not less than $500,000.00, and furthermore to famish Client with a Certificate of Insurance listing Public Risk Management of Florida as an additional insured for said policy of professional liability insurance." 3) Jurisdiction/governing law /venue. "The parties hereto agree that any and all disputes, litigation, arbitration or other controversies shall be controlled and governed by the laws of the State of Florida, and that jurisdiction and venue of any and all such disputes, litigation, or arbitration shall be limited to Lee County, Florida." Glenn R. Tobey Insurance Advisor 8767 Esplande, Unit 33 Orlando, FL 32819 SS# 348 -44 -0723 Date Ross F Executive Director Public Risk Management of FL Date PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 REGULAR AGENDA SUMMARY 13. By -Laws Clarification A. Notice of Intent to Withdraw Article 4.2. Notice of Withdrawal: " any current or new Member joining the Pool shall remain a Member for an initial two -year term, except a new Member coming into the Pool after the first day of the fiscal year shall be obligated to be a member for not less than eighteen (18) months. " Any Member may withdraw from the Pool at the end of the fiscal year upon serving on the Pool by mail. fax or hand delivery at least one year's prior written notice. Such notice shall be addressed to the Executive Director of the Pool and shall be accompanied by a resolution of the governing body of the Member electing to withdraw from the Pool. Article 4.3 Actual Withdrawal /Required Withdrawal. Any Member who has served the Executive Director with prior written notice of its intent to withdraw at least one (1) year prior to the beginning of the fiscal year for which the notice to withdraw is applicable, shall serve in writing to the Executive Director, by mait fax or hand delivery on or before August 15 prior to the beginning of such fiscal year, a verification as to whether the Member intends to actually withdraw from the Pool at the end of the current fiscal year. Failure to serve such verification on or before August 15 prior to the beginning of the fiscal year for which notice of intent to withdraw is applied, shall be deemed a revocation of the prior notice of intent to withdraw; thus binding the Member to the Pool for the ensuing fiscal year. B. Notification of Board Representatives Article 6.1. The Board: " Each Member shall appoint one (1) person to represent that body (the "Representative ") on the Board of Directors along with another person to serve as an alternate representative (the "Alternate ") when the Representative is unable to carry out that Representative's duties. The Representative and Alternate shall be appointed in writing by the governing body of the Member and a copy of the written appointment shall be provided to the Executive Director of the Pool. Once such appointments are made known to the Pool, the persons appointed shall remain in office until the Pool receives evidence in writing of the appointment of other persons by the Member's governing body. The Representative and Alternate selected must be an employee, an appointed official or elected official of the entity." No Board Action Necessary PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 REGULAR AGENDA SUMMARY 14. Hurricanes Charley, Frances, Ivan, Jeanne & Wilma A. Claims Status Update - Attachment No Board Action Necessary Ross Furry 15. Member Notice — Intent to Withdraw 9/30/07 Ross Furry City of Deltona No Board Action Necessary 16. Florida PRIMA Conference Ross Furry The State PRIMA Conference will be held at the Boca Raton Marriott from October 22 -25. No Board Action Necessary 0 1 M em- i CO OOro L CU 0 C-0o GS C) 'L L. = 2,894.7631 O IO��tco N'170000cr «) N- CO ti r-c7(000) r 'V r CO Oonncp r- r- 0) CO 0 (0 233:8821 CO cOOco00'r- .- CO N 0 `It 0 0 0)0) 0t- M -o 0 CO N N 248 :3921 0 0) r r 0) co CO ("4 CO O r �Buildina Values Affected 144,738,280 36,627,960 235,400 8,974,470 t,- o 37, 751, 716 45,215,077 34,792,479 11,694,100 9,902.521 12,683,375 2,295,968 0 N 39,656,260 11,447,484 12,419,590 5,990,303 CO cc) r o v- 0.00 00'0 00'0 00'05E`Z 56' 1.1.9`99/_41. 847,271.34 307, 506.34 34,164.00, 99,027.19 440,826.02 000 r00 r- 00 fsOO CO O (0(00 N O to 23,003.22 0) CO f- OD O CO 244,600.00 00 00 00 r- Nt cy) CO 4,183,548.55! Total Experience 1,344,589J4', 12,025,230.57 2,350.00, 1,573.11' 1,265.00 4,226,204.07 7,414,164.59 1,132,010.96 CO I� 01 1,682,424.23 1,500,529.90 25,000.00 IOn C) O 433,934.76 7,329,882.65 O (00 N Nt 133,470.00 290,244.06 41,535,202.53! Payments 1,344, 589.74''. 10,256,418.62 1,573.11 1,265.00 3,378,932.73 7,106,658.25 1,097,846.96 3,640,371.12 1,241,598.21 1,353,658.80 0.00 CO CO 410,931.54 7,269,235.26 0.00 N O 0) N 37,401,653.981 L.L eL 0MNO(OO 5 4k N co r r 157 67 15 55 12 39 0 LZ (0000 (O 1203 # Open OOr00 41 32 10 20 10 lnr 12 24 19 NO 207 Total Claims 233 62 1 16 10 198 99 25 75 22 50 5 N 0) () O O) 0) r 21 29 o O 'Balance of Excess Funds: $1,574,362.16 Member City of Cape Coral Desoto County Hendry County City of North Port Lee County Port Authority City of Punta Gorda Hardee County City of Sebring N Y 3 f0 = c (p O 5a o 0 Z' 0 0 City of Fort Meade City of Winter Garden Public Risk Management Highlands County City of Lake Wales City of Oviedo 0) C N CO (0 O 0 Y (° o _ 0 0 (/) w o 1- a 7 'C m 0 -- 227,9681 220.4001 �� 'd' Cri '- 74,8261 O •;I N 20,7861 436.144 O OV Co 467.3631 NOD . CD O f• O CA O N 130,2751 2,528.2251 (0 N CA 1� 71" 11 11 7 3 x- 1 21 8 23 3 3 12 6 125 0 0 0 0 0 0 0 0 0 0 O O 0 0 0 0 0 0 0 0 0 0 O O OOOOOOOOOOr O 0 0000 ON 0 NI- ..-- CD CA CO O N CD 1'- x- C') 2 M 0 0 0 0 0 0 0 0 0 O O 0 0 0 0 0 0) 0 0 0 O O 00000000000 O 4 0 co 00cr0N 000 CND x- 00 N CA CD 00 rances CD IN- 33 3 N 0 O 0 0 0 0 0 0 0 0 0 Payments 0. o. 0. 0. O 0. 42,446. 0. 0. 0. 336, 738. 0. 0. O 379,185. # Closed v-, -'s NN,-- CD0,r-0NN 152 I_ # Open. 0000v- CO0N14)00.- 0 0 4 10 0 55 Total Claims e- x- Cr) 5 1 28 15 Nr 04 N Member Desoto County Lee County Port Authority City of Sebring City of Clewiston City of Avon Park City of Eustis City of Longwood Okeechobee County City of Pahokee City of Belle Glade Town of Lady Lake City of Okeechobee City of Deltona Sun 'n Lake 'Totals: Balance of excess funds: (1 PRM - Hurricane Ivan D/L 09 -15 -04 Deductibles 880 44.000 0.00 Total Experience M O N A Payments V) 0) N A .O d e O a a N # Open O Total Claims N Q z 8 co co c LL ti V x w ,Member C 7 O U N E O S - Hurricane Jeanne D/L 09 -26 -04 Deductibles 182,6041 1 13,7381 OD -- Y- o co co 130.9941 CO r-OMOCo c) co r- VI I� N 31 474 46, 342 830.652 000 CO (D CO 0) CO 00 N 37.4461 1.n '-N co- co 0 - 41.6311 0) 0) . r r 0 CO co- CO N Buildina Values Affected 0 N 0 00 O 686,900 35,409,298 321,800 6,549, 700 185,900 91,900 1,384,740 1,573,700 0 r 1- CO N 0 (o c) -zr 19, 849, 000 0 1,403,000 1,872,300 0 N co 0000 Lo r 0 CO r N 2,081,4901 5,899,9531 00 c0 y- 00 NI- 28,400.00 000000000 0 0000000 ONOOOOOOr 0 0_ M_ C 10 co t() r N- Cr) M co r r 0 l0 l'.. � 1.00 (0 (O (p N_ In CO r 00'0 21, 500.00 M ti In y-_ r O V' 55, 000.00 43, 500.00 21,000.00 00'009`52 2, 057, 886.79 Total Experience O O Nr c6 N 33,400.00 386,253.10 1,300.00 18,099.85 3,500.00 O O d' O N 1C) f� 950.00 2,085.00 287,321.861 1 4,427,260.00 554.58 21, 500.00 2,446,636.00 55,000.00 57, 323.88 O O O A- N 25, 500.00 7,893,148.27 Payments 0.0011 0 0 0 10 0 O r- 0 OD 0 O O O 0 O CO 0) r N. r O r 2,064.00' 0.00 O O 0 O O OD O N 287,320.86 3,291,993.34 554.58 O 0 O 2,045,460.27 O O O 13,823.88 O O 00'0 5,835,261.48 # Closed O O 01 O v O r O O r 34 O r 0 0 0 0 0 O) 0 1 15 1 2 2 O CI 30 0 10 1 CO (0 a D 00 Total Claims c0 1 18 1 13 2 r co r () 30 r 10 r CV 17 CO CO r l() Balance of Excess funds: 204,198.26 Member 'Glades County Hendry County City of Sebring City of Moore Haven City of Clewiston City of Zephyrhills Town of Kenneth City City of Eustis Town of Belleair City of Crystal River Highlands County Okeechobee County City of Lake Wales Town of Lake Placid City of Pahokee City of Belle Glade City of Okeechobee City of Deltona Sun 'n Lake O H ne.�....r:r.�,... 1 O 0) 1n tr CON'I' CO Cr) 0) r O COOCOOtoCONOrOStrCO CO r CCO� CO 0 1- -N- CO CO N O Ch r 0 N v rNrQCCpr0)NM CO Q) 0O CO 16 CO (O O co 1.0 M cf CO CO 1n Cr) N 1- NY Q) CO 10 O N CO N O 0) M ••• - .a.MY.7 ••I 1 Ybi-iY 9.279.500 0 I0 ' N r r CO CO N r- 32.718.052 10000N-00V' 10000 L 0) � 1n O Tr 00 rip. M 0u) L CO C r 1- - 1- O N r 0LC)C+) a - N) i- N.1- 2 O 0 Cr) 39,165,734 775.300 000 C)00 1ntrco N- ti 0Cr)r r c) 1n N r 0) 1� Q) N- O Q) 00 CO CO CO CO N... I Remain Ina Reservers 0 Or O r CO O CO N N- 2,825,159.60 0 O O 00'0 0 00 0 1.00'1 1,254,044.181 0 00001 6 N c6 0 O� 0 0 O CO CO r N C7 0 CCOO Nr 1,143, 786.00 48,592.00 r (O '0 CO M r (0 PRM - Hurricane Wilma D/L 10 0.00 1,154,683.56 3,325,768.51 17,417.00 CO CO In 950.00 238,711.04 1,796,587.10 153, 377.57 6,362.62 186,614.00 0.00 CD N to r 0 CD 0) 0 N r 10,373,680.25 Payments 0.00 1,025,617.45 Q)0 CON.: (00 V' O r. In r 589,807.16 950.00 238,710.04 542,542.92', 85,098.57 6,362.62 0.00 0.00 1,084,479.07 145,450.90 0.00 4,237,044.64 .o O H Or U 4# 1 26 29 4 10 1 4 26 8 16 19 1 201 d O'- C) O 1 0 0 1 26 9 0 22 0 51 30 4 204 E V t0 r F N�d �rin�e.- CrO�rO�..4- D, c) !Balance of excess funds: $12,685.36 'Member Desoto County Glades County Hendry County City of Labelle Lee County Port Authority City of Wauchula City of Moore Haven City of Clewiston South FL Conservancy Highlands County Okeechobee County City of Lake Wales City of Pahokee City of Belle Glade City of Okeechobee I 'Totals: i PUBLIC RISK MANAGEMENT OF FLORIDA BOARD OF DIRECTORS MEETING SEPTEMBER 15, 2006 REGULAR AGENDA SUMMARY 17. Member Attendance at Board Meetings Ross Furry Attached is an attendance roster for the last four Board Meetings. No Board Action Necessary 18. Board Member Items A. Establish Meeting Dates for Calendar Year 2007 March 9 Terrace Hotel, Lakeland May 17 Hilton Resort, Marco Island (annual conference) August 10 Terrace Hotel, Lakeland December 14 Terrace Hotel, Lakeland Board Action: Approved Denied Deferred Other The next Board Meeting will be held on December 8, 2006, at the Terrace Hotel in Lakeland. Public Comment: Discussion must be limited to a maximum of five (5) minutes per person. Adjourn 17. BOARD MEETING ATTENDANCE ROSTER Entity Bd Mtg 6/22/06 Bd Mtg 3/10/06 Bd Mtg 12/9/05 Bd Mtg 8/12/05 Avon Park, City of Kathy Bennett Kathy Bennett Kathy Bennett Sarah Adelt Rene Green Kathy Bennett Belle Glade, City of Susan Lee Susan Lee Susan Lee Susan Lee Belleair, Town of Vivian Hunter NONE Vivian Hunter Stacie Jo Rimes Brooksville City of Steve Baumgartner NONE Steve Baumgartner Steve Baumgartner Clewiston, City of Ted Byrd Ted Byrd Ted Byrd Ted Byrd Crystal River, City of Linda Stilson NONE Linda Stilson NONE Deltona, City of NONE NONE NONE Faith Miller DeSoto County BOCC Jerry Hill Paul Erickson Jerry Hill Paul Erickson Paul Erickson Jerry Hill Paul Erickson Eustis, City of Mike Sheppard NONE Mike Sheppard Mike Sheppard Fort Meade, City of Delores Avery Delores Avery Delores Avery Delores Avery Katrina Powell -non vote Glades County BOCC Mary Ann Dotson NONE NONE NONE Gulfport, City of Jennifer Valdes NONE Jennifer Valdes Elaine Trehy Jennifer Vales Hamilton County BOCC NONE NONE NONE NONE Hardee County BOCC Jane Long Jane Long Jane Long Jane Long Hendry County BOCC Lester Baird Lester Baird Janet Taylor Lester Baird Lester Baird Highlands County BOCC Freddie Carino Tom Bowman Tom Bowman Fred Carino Sherri Bennett -non voting representative Holmes County BOCC NONE NONE NONE NONE Indian Rocks Beach, City of NONE NONE Martin Schless Martin Schless -non voting representative Kenneth City, Town of Nancy Beelman Bill Smith Nancy Beelman Nancy Beelman Nancy Beelman LaBelle, City of Michael Boyle Lisa Smith NONE Lisa Smith Lisa Smith Lady Lake, Town of Bill Vance NONE NONE NONE Lake Mary, City of John Litton NONE John Litton John Litton Lake Placid, Town of Arlene Tuck Arlene Tuck NONE Phil Williams Lake Wales, City of NONE NONE NONE Sandra Davis Lee County Port Authority Bob Zega NONE NONE NONE Levy County BOCC Jacqueline Martin Fred Moody Fred Moody Fred Moody Longboat Key, Town of NONE Jane O'Connor Jane O'Connor Gerald Wilson Longwood, City of Carol Rogers -non voting representative NONE Dawn Jackson Dawn Jackson Moore Haven, City of Melissa Arnold NONE NONE NONE New Port Richey, City of Jeff Sutton Jeff Sutton Jeff Sutton Jeff Sutton North Port, City of Steve Gailbreath Steve Gailbreath Steve Gailbreath NONE Okeechobee, City of NONE Donna Reynolds Donna Reynolds Donna Reynolds Okeechobee County BOCC Robbie Chartier Robbie Chartier Robbie Chartier Robbie Chartier Oviedo, City of Connie Collins Dan Hood Dan Hood Dan Hood Pahokee, City of Jeanie Perkins Alberta Fields Jeanie Perkins James Bradlock -non voting representative Jeanie Perkins Port Richey, City of NONE NONE NONE Shirley Dresch Punta Gorda, City of Dave Drury Phil Wickstrom Dave Drury Phil Wickstrom Dave Drury Safety Harbor, City of NONE NONE NONE Bill Cropsey Sarasota /Manatee Airport Auth. John Schussler NONE Martin Lange Martin Lange Sebring, City of Mike Eastman Jeff Carlson Mike Eastman Diane Kauffman -non voting representative Jeff Carlson Mike Eastman South Florida Conservancy NONE Ron Graydon NONE NONE South Pasadena, City of NONE NONE NONE NONE St. Pete Beach, City of Gary Behnke Gary Behnke NONE Kara Schrader -Smith Sun 'N Lake of Sebring NONE NONE NONE George Hensley -non vote Tampa Bay Water NONE Debra Woodall Debra Woodall Debra Woodall Tavares, City of Crissy Bublitz Crissy Bublitz Lori Tucker NONE Lorri Tucker Temple Terrace, City of Woody Hubbard NONE Woody Hubbard Woody Hubbard Wauchula, City of James Braddock Terri Svendsen James Braddock Terri Svendsen Terri Svendsen James Braddock Winter Garden, City of Peggy Carpenter -non voting representative Peggy Carpenter -non voting representative NONE NONE Zephyrhills, City of Sharry Boldt Sharry Boldt Sharry Boldt Sharry Boldt PRM Board of Directors Meeting Dates 2007 S M 1 7 8 14 15 21 22 28 29 JANUARY T W T 2 3 4 9 10 11 16 17 18 23 24 25 30 31 F 5 12 19 26 S 6 13 20 27 S M 4 5 11 12 18 19 25 26 FEBRUARY T W T 1 6 7 8 13 14 15 20 21 22 27 28 F 2 9 16 23 5 3 10 17 24 S M 4 5 11 12 18 19 25 26 MARCH T W T 1 6 7 8 13 14 15 20 21 22 27 28 29 F cop 16 23 30 S 3 10 17 24 31 S M 1 2 8 9 15 16 22 23 29 30 APRIL T W T 3 4 5 10 11 12 17 18 19 24 25 26 F 6 13 20 27 S 7 14 21 28 MAY JUNE JULY AUGUST S M T W T F S SM T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 1 2 1 2 3 4 5 6 7 1 2 4 6 7 8 9 10 11 12 3 4 5 6 7 8 9 8 9 10 11 12 13 14 5 6 7 8 9 tQ 11 13 14 15 16 0 18 19 10 11 12 13 14 15 16 15 16 17 18 19 20 21 12 13 14 15 16 17 18 20 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 28 19 20 21 22 23 24 25 27 28 29 30 31 24 25 26 27 28 29 30 29 30 31 26 27 28 29 30 31 SEPTEMBER OCTOBER NOVEMBER DECEMBER S M T W T F S S M T W T F S S M T W T F S S M T W T F S 1 1 2 3 4 5 6 1 2 3 1 2 3 4 5 6 7 8 7 8 9 10 11 12 13 4 5 6 7 8 9 10 2 3 4 5 6 7 8 9 10 11 12 13 14 15 14 15 16 17 18 19 20 11 12 13 14 15 16 17 9 10 11 12 13 Q3) 15 16 17 18 19 20 21 22 21 22 23 24 25 26 27 18 19 20 21 22 23 24 16 17 18 19 20 21 22 23/3o 24 25 26 27 28 29 28 29 30 31 25 26 27 28 29 30 23/3o 24h1 25 26 27 28 29 Terrace Hotel 329 E. Main Street Lakeland, FL 33801 -5046 Phone: 863 - 688 -0800 Toll -Free: 888 - 644 -8400 Directions from Tampa 1 -4 East toward Orlando Exit 28 Memorial Blvd. (approx. 3.5 mi.) Right on Massachusetts Ave. (approx. 1 mi.) Hotel is located at the corner of Main St. & Massachusetts Ave. Directions from Orlando 1 -4 West toward Tampa Exit 33, State Road 33 Continue South (approx. 4 mi.) (SR 33 changes name to Lakeland Hills Blvd., then Massachusetts Ave.) Hotel is located at the corner of Main St. & Massachusetts Ave. Directions from Ft. Myers 1 -75 North to Exit 164 (old Exit 29), US Route 17 North Follow 17 North to Bartow, turn left on US Route 98 Follow 98 North into town, turn left on Main Street and follow around the lake to the hotel, located at the corner of Main St. & Massachusetts Ave. Complimentary valet parking at hotel. PUBLIC RISK MANAGEMENT OF FLORIDA EXECUTIVE COMMITTEE MEETING September 15, 2006 Lakeland, FL AGENDA 8:00 a. m. Call To Order John Litton, Chairperson CONSENT AGENDA 1. Request Approval of September 1, 2006 Executive Committee Meeting Minutes Any Board Member may request to have an item removed from the Consent Agenda and placed on the Regular Agenda for further discussion. REGULAR AGENDA 2. Insurance Advisor's Report A. 2006/07 Program Renewal Recommendations 3. Broker's Report A. 2006/07 Renewal Presentation 4. Amendment to By -Laws A. Aggregate Excess of Loss Fund Insurance (Optional vs. Mandatory) 5. Approval to Not Purchase Aggregate Excess of Loss Fund Insurance Approval to Restrict Surplus Funds for Losses in Excess of Loss Fund Glenn Tobey Andy Cooper, A. J. Gallagher Ross Furry 7. Use of Surplus Funds to Carry Members Premiums for 10/1/07 to 3/30/08 Due and Payable 10/1/06 to Carriers 8. Presentation of Allocation Policy for Named Windstorm Losses Excess of Aggregate Policy Limits Ross Furry Ross Furry Ross Furry Ross Furry 9. Hurricanes Charley, Frances, Ivan, Jeanne & Wilma Ross Furry A. Claim Status Update 10. Member Attendance at Board Meetings Ross Furry 11. Committee Member Items Public Comment: State full name and address. Discussion must be limited to a maximum of five (5) minutes per person. Adjourn NOTICE OF MEETING OF PUBLIC RISK MANAGEMENT OF FLORIDA EXECUTIVE COMMITTEE MEETING Public Risk Management of Florida, an intergovernmental risk management association, organized under Florida Statutes 163.01, hereby gives notice of its Executive Committee Meeting to be held on Friday, the 15th day of September, 2006. The meeting will be held at 8:00 am in the Lake Mirror Room of the Terrace Hotel, 329 E. Main Street, Lakeland, Florida 33801. Directions to the meeting site are attached, as well as a copy of the agenda for said meeting. This is a public meeting and open for comments. If a person decides to appeal any decision considered at this meeting, he or she may need a record of the proceedings, and that, for such purpose, he or she may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony in evidence upon which the appeal is based. Public Notice