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The Kentucky Association of Counties Insurance Agency, Inc. held a Board of Directors' meeting immediately following the KACo Board of Directors' meeting on Thursday, March 28, 2019 at 400 Englewood Drive in Frankfort, Kentucky.
The roll was called. The following Directors were present: Chairman Elbert Bennett, Caldwell Co. Magistrate; Gary Moore, Boone Co. Judge/Executive; Stevie Givens, Butler Co. Magistrate; Brad Boyd, Christian Co. Jailer; Alex Barnett, Harrison Co. Judge/ Executive; and Todd Ruckel, Lewis Co. Judge/Executive.
Others present were: Temple Juett, Director of Insurance; Karen Basham, Chief Financial Officer; Kelly Harding, Jerry Pace, and Clint Combs, Peel & Holland/KACo Benefits Group; Bruce Lawson, Senior Accountant; Rich Ornstein, Staff Attorney; Andrea Morse, Associate Underwriter; and Sonya Chesser, Executive Secretary.
Chairman Bennett called the meeting to order at 3:17 p.m.
Chairman Bennett accepted nominations for a secretary.
Motion made by Gary Moore, seconded by Stevie Givens to re-elect Sonya Chesser as secretary by acclamation. Motion carried.
Motion made by Stevie Givens, seconded by Brad Boyd, to approve the minutes of the December 20, 2018 meeting as presented.
Ms. Basham presented and discussed the income statement for period July 1, 2018 through February 28, 2019; balance sheet as of February 28, 2019; and FY 2018/19 PAF budget for period July 1, 2018 - February 28, 2019.
Motion made by Brad Boyd, seconded by Stevie Givens, to accept the financial reports as presented. Motion carried.
Ms. Basham, presented and discussed the total number of bonds and premium, by month, for FY 2018/19 as compared to FY 2017/18 as March 25, 2019.
Mr. Harding, giving an update on health insurance, provided a summary of the KACo Benefits Program and a five year review of the Agency's financial performance, which includes an update on the current rolling twelve month commission and a report on the loss ratio for the months of August 2016 through October 2018. He provided an update on the quarterly activity, which included the addition of eight new members and two terminations. Mr. Harding presented the Association Health Plan's population and claims report through January 2019. The next scheduled quarterly board meeting will be held June 20th upon adjournment of the KACo Board of Director's meeting.
Motion made by Stevie Givens, seconded by Gary Moore, to adjourn the meeting at 3:31 p.m. Motion carried.
