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The Kentucky Association of Counties All Lines Fund held a Board of Trustees meeting at 12:30 p.m. on Wednesday, February 19, 2025. This meeting was held via video teleconference, pursuant to proper notice given in accordance with KRS 61.826 and KRS 65.312(3).
The roll was called. The following Trustees were present: Chairman Orbrey Gritton, Anderson County Judge/Executive; Vice-Chair Stacy Tapke, Kenton County Attorney; Stephen Harmon, Warren County Jailer; Reagan Taylor, Madison County Judge/Executive; and Steve Henry, Webster County Judge/Executive.
Others present included: Jim Henderson, Executive Director/CEO; Temple Juett, Director of Insurance and Business; Tim Sturgill, General Counsel; Karen Basham, Chief Financial Officer; Steve Bolton, Board Counsel; Kris Dunn, Underwriting Manager; Andrea Morse, Insurance Agency Manager; Michael Ray, Safety and Risk Manager; Jeremy Head, Claims Manager; Crystal Hellard, Litigated Claims Manager; Marie Skinner, Accounting Manager; Alyssa Rogers, Staff Accountant; Steve Morrison and Steve Clary; Safety and Loss Control Specialists; Phil Crumpton, Law Enforcement Liaison; Lindsey Bowman, Macy Thompson, and Kathy Basham, Customer Support Representatives; Jennifer Burnett, Director of Strategic Operations; Sue Porter, Michele Barrett, and Kathy Marshall, Public Entity Insurance/KACo Marketing Agents; Joe Greathouse, Commonwealth Insurance Advisors, LLC/KACo Marketing Agent; Clint Combs, HUB International/KACo Marting Agent; Rob Brown, Local Government Insurance Agency/KACo Marketing Agent; Kristi Whistle Marsh, Inc.; Greg Sisson, Ed Meredith and Jeremy Russell, Charles T. Taylor, PLLC; and Sonya Chesser, Executive Assistant to CEO/Director of Administrative Services.
Chairman Gritton called the meeting to order at 12:30 p.m.
Motion made by Reagan Taylor, seconded by Stephen Harmon, to approve the minutes of the January 22, 2025, meeting as presented. Motion carried.
Ms. Basham presented and discussed the following financial reports: balance sheet, income statement and claims expense report as of January 31, 2025; FY 2024/25 PAF budget as of January 31, 2025; new business activity for January 1 - 31, 2025; FY 2024/25 agent commissions by agency as January 31, 2025; and FY 2024/25 premium receivable report as of February 14, 2025.
Ms. Basham presented the investment report for January 2025; the investment transactions for January 2025; and the FY 2024/25 investment portfolio summary by month. The board received a full listing of the Fund's investments electronically prior to the meeting. She said the Fund is in compliance with the ratios as statutorily required.
Motion made by Stacy Tapke, seconded by Reagan Taylor, to acknowledge receipt of the financial and investment reports and to ratify the security changes as presented. Motion carried.
Mr. Head presented and discussed the quarterly claims report as of Jan. 31, 2025.
Mr. Juett stated that the Fund's existing claims service agreement with Charles Taylor TPA, LLC is set to expire on June 30, 2025, and it includes an option for up to two additional three-year extensions. He presented the first memorandum of extension between the Fund and Charles Taylor, TPA for a period of three (3) years commencing on July 1, 2025, and continuing through June 30, 2028.
Motion made by Stacy Tapke, seconded by Stephen Harmon, to approve the memorandum of extension as presented. Motion carried.
Mr. Juett stated that the existing agent marketing agreement with Commonwealth Insurance Advisors, LLC for Territory B is set to expire on July 1, 2025, and it includes an option for an additional four-year extension. He presented a memorandum outlining the four-year extension between the Fund and Commonwealth Insurance Advisors, LLC as the agent, which will commence on July 1, 2025, and conclude on June 30, 2029. It also includes a correction noting that the original agreement identified Commonwealth Insurance Advisors, LLC as Commonwealth Insurance Advisors, a Kentucky for-profit corporation.
Motion made by Stacy Tapke, seconded by Reagan Taylor, to approve the Memorandum of Correction and Extension as presented. Motion carried.
Ms. Basham stated that the existing asset management agreement with Conning is set to expire on June 30, 2025, and it includes an option for up to two additional three-year extensions. She presented the first memorandum of extension between the Fund and Conning, Inc. for a period of three (3) years commencing on July 1, 2025, and continuing through June 30, 2028.
Motion made by Stephen Harmon, seconded by Reagan Taylor, to approve the memorandum of extension as presented. Motion carried.
The next meeting is Mar. 19, at 12:30 p.m.
Motion made by Reagan Taylor, seconded by Stacy Tapke, to go into closed session at 12:48 p.m. to discuss proposed or pending litigation involving the board as authorized by KRS 61.810 (1)(c). Motion carried.
Motion made by Reagan Taylor, seconded by Stacy Tapke, to return to open session at 1:06 p.m. Motion carried. No action was taken in closed session.
Motion made by Reagan Taylor, seconded by Stephen Harmon, to adjourn the meeting at 1:07 p.m. Motion carried.
