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The Kentucky Association of Counties Insurance Agency, Inc. held a special Board of Directors' meeting, pursuant to proper notice given in accordance with KRS 61.823 at 3:00 p.m. local time on Thursday, March 26, 2020 via teleconference.
The roll was called. The following Directors participated by phone: Chairman Gary Moore, Boone Co. Judge/Executive; Reagan Taylor, Madison Co. Judge/Executive; Stevie Givens, Butler Co. Magistrate; Todd Ruckel, Lewis Co. Judge/Executive; Alex Barnett, Harrison Co. Judge/Executive; Gary Gardner, Hart Co. Magistrate; and Jim Henderson, KACo Executive Director/CEO.
Others participating by phone included: Temple Juett, Director of Insurance; Karen Basham, Chief Financial Officer; Kelly Harding, Peel & Holland/KACo Benefits Group; Tim Sturgill, General Counsel; Jennifer Burnett, Director of Research; and Sonya Chesser, Board Secretary.
Chairman Moore called the meeting to order at 3:24 p.m.
Motion made by Stevie Givens, seconded by Todd Ruckel, to approve the minutes of the December 19, 2019 meeting as presented. Motion carried.
Ms. Basham presented and discussed the income statement for period July 1, 2019 through February 29, 2020 and balance sheet as of February 29, 2020.
Motion made by Alex Barnett, seconded by Stevie Givens, to accept the financial reports as presented. Motion carried.
Ms. Basham, presented and discussed the total number of bonds and renewals, by month, for FY 2019/20 as compared to FY 2018/19 as March 20, 2020.
Motion made by Stevie Givens, seconded by Gary Gardner, to approve the bond report. Motion carried.
Mr. Henderson presented and discussed a draft board travel policy for consideration as adopted by the KACo Board of Directors and recommended by the KACo Executive Committee.
Motion made by Alex Barnett, seconded by Reagan Taylor, to approve the board travel policy as presented. Motion carried.
Mr. Harding, giving an update on health insurance, provided a summary of the KACo Benefits Program, which includes 62 fiscal courts, 71 libraries and 63 political subdivisions totaling 196 members for a total annualized premium of $40,410,121 covering 5,421 lives. The report also included a five year review of the Agency's financial performance and the current rolling twelve month commissions. Mr. Harding provided a program update on new members joining the program and noted the significant growth in the association health plan. He said Peel and Holland is providing relevant information to the membership concerning the COVID-19 crisis.
The next regularly scheduled meeting will be held June 25th upon adjournment of the quarterly KACo Board of Director's meeting.
Motion made by Stevie Givens, seconded by Reagan Taylor, to adjourn the meeting at 3:38 p.m. Motion carried.
