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The Kentucky Association of Counties Workers' Compensation Fund held a Board of Trustees' meeting at 11:00 a.m. on Wednesday, August 21, 2019 at 400 Englewood Drive in Frankfort, Kentucky.
The roll was called. The following Trustees were present: Chairman Greg Terry, Carlisle Co. Judge/Executive; Michael Logsdon, Oldham Co. Magistrate; Casey Ellis, Owen Co. Judge/Executive; Dan Mosley, Harlan Co. Judge/Executive; and Elbert Bennett, Caldwell Co. Magistrate.
Others present were: Temple Juett, Director of Insurance; Jim Henderson, Executive Director/CEO; Michael Ray, Safety & Loss Control Manager; Bruce Lawson, Senior Accountant; Karen Basham, Chief Financial Officer; Crystal Hellard, Litigated Claims Specialist; Rich Ornstein, Staff Attorney; Jeremy Head, Claims Manager; Rob Brown and Joe Greathouse, LGIA/KACo Marketing Agents; Sue Porter, Roeding Insurance/KACo Marketing Agent; Jerry Pace, Peel & Holland/Marketing Agent; Andrea Morse, Associate Underwriter; Macy Thompson and Kathy Basham, Customer Service Representatives; Jeremy Russell, Ed Meredith and Terry Banaszak, Underwriters Safety & Claims; Grant Satterly, Director of Financial Services; Roger Recktenwald, Director of Planning Infrastructure & IT; John Logan and Kristie Whistle, Marsh, Inc.; Paul Harnice, Board Counsel, Stoll, Keenon, Ogden, PLLC; and Sonya Chesser, Executive Secretary.
Chairman Terry called the meeting to order at 11:04 a.m.
Motion made by Michael Logsdon, seconded by Elbert Bennett, to approve the minutes of the July 24, 2019 meeting as presented. Motion carried.
Ms. Basham presented and discussed the following reports: balance sheet as of July 31, 2019; FY 2019/20 budget detail for the month ending July 31, 2019; check history report for July 1 - 31, 2019; FY 2019/20 PAF budget for period July 1 - 31, 2019; FY 2019/20 agent commissions as of July 31, 2019; and FY 2019/20 investment portfolio summary as of June 30, 2019. She provided an update on the dividend checks that are being distributed to the members.
Motion made by Michael Logsdon, seconded by Casey Ellis, to approve the financial reports as presented. Motion carried.
Mr. Head presented and discussed the following claims activity reports: summary of losses valued as of July 31, 2019; graph of opened and closed claims during fiscal year 2019/20; open claims for all years as of July 31, 2019; and a chart comparing the claim count from the last three, five and ten years including the monthly incurred averages as of June 30, 2019. There were a total of 131 newly reported claims totaling an incurred value of $685,352.60 for the month of July 2019 as compared to 136 reported claims totaling an incurred value of $332,113.60 for the month of July 2018. He provided an update on the Nurse Triage program. He recommended switching from monthly claims reports to quarterly in order to allow for more developed and accurate projections. The board agreed to receive quarterly reports on a trial basis with the next claims report to be presented at the October meeting. Mr. Head will inform the board of any issues that should arise between the quarters.
Mr. Juett also provided an update on the dividend checks. Squire Logsdon requested a list of the members and amounts for those receiving a dividend.
Mr. Ray, providing an update on the grant program, said members can apply online via KACo's website. Currently, nine applications have been received since Aug. 15th. Deadline to submit an application for a grant is Oct. 15th. Members have received information about this program through email communications.
Mr. Juett provided an update on the law enforcement position which is currently being advertised.
Mr. Juett said the Fund has submitted a bid to write Pulaski Count Fiscal Court.
Motion made by Michael Logsdon, seconded by Dan Mosley, to go into closed session at 11:40 a.m. to discuss proposed or pending litigation involving the board as authorized by KRS 61.810 (1)(c). Motion carried.
Motion made by Elbert Bennett, seconded by Casey Ellis, to adjourn the meeting at 11:49 a.m. Motion carried.
The next scheduled board meeting will be held September 25th at 11:00 a.m.
Motion made by Elbert Bennett, seconded by Michael Logsdon, to adjourn the meeting at 11:50 a.m. Motion carried.
