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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, December 20, 2018 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; Brian Roy, KACo Executive Director/CEO; Stevie Givens, Butler Co. Magistrate; Brad Boyd, Christian Co. Jailer; and Alex Barnett, Harrison Co. Judge/ Executive.
Others present were: Temple Juett, Director of Insurance; Karen Basham, Chief Financial Officer; Tim Sturgill, General Counsel; Bruce Lawson, Senior Accountant; Kelly Harding, Jerry Pace, and Clint Combs, Peel & Holland/KACo Benefits Group; Marie Skinner, Accountant/UI Manager; Andrea Morse, Associate Underwriter; Michael Lee Stephens, Adair Co. Judge/Executive; and Sonya Chesser, Executive Secretary.
Chairman Bennett called the meeting to order at 2:15 p.m.
Chairman Bennett presented outgoing board member Judge Stephens with plaque in appreciation for his service on the board.
Motion made by Stevie Givens, seconded by Brad Boyd, to approve the minutes of the September 27, 2018 meeting as presented. Motion carried with Judge Moore and Judge Barnett abstaining.
Ms. Basham presented and discussed the income statement for period July 1, 2018 through November 30, 2018; balance sheet as of November 30, 2018; and FY 2018/19 PAF budget for period July 1, 2018 - November 30, 2018.
Motion made by Stevie Givens, seconded by Brad Boyd, to accept the financial reports as presented. Motion carried.
Ms. Skinner, presented and discussed the total number of bonds and premium, by month, for FY 2018/19 as compared to FY 2017/18 as December 14, 2018.
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 August 2018. He said six new accounts will be added to the program effective January 1, 2019. Mr. Harding presented information relative to the Agency book of business at January 1, 2019. He also presented and discussed claims data for period November 2017 to October 2018.
Mr. Harding provided each board member with a copy of the KACo Benefits Group pamphlet.
Chairman Bennett requested approval to adopt the following meeting schedule for 2019: March 28, June 20, September 26 and December 19. All meetings will be held at the KACo offices upon adjournment of the KACo Board of Director's meeting.
Motion made by Alex Barnett, seconded by Brian Roy, to approve the 2019 meeting schedule as presented. Motion carried.
Mr. Roy complimented the agents at Peel & Holland for the successful health expo aisle that was held at the annual KACo Conference & Exposition in November.
Motion made by Stevie Givens, seconded by Brad Boyd, to adjourn the meeting at 2:38 p.m. Motion carried.
