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The Kentucky Association of Counties Workers' Compensation Self-Insurance Fund held a Board of Trustees meeting at 10:30 a.m. on Wednesday, August 27, 2025. This meeting was held at the KACo offices located at 400 Englewood Drive in Frankfort, Kentucky and via video teleconference, pursuant to proper notice given in accordance with KRS 61.823, 61.826 and KRS 65.312(3).
The roll was called. The following Trustees were present: Chairman Greg Terry, Carlisle County Judge/Executive; Vice-Chair Dan Mosley, Harlan County Judge/Executive; Michael Logsdon, Oldham County Magistrate; David Nicholson, Jefferson County Circuit Court Clerk; and Adam O'Nan, Union County Judge/Executive.
Others present included: Jim Henderson, Executive Director/CEO; Temple Juett, Chief Insurance Officer; Jeremy Baird, Director of Insurance; Tim Sturgill, General Counsel; Paul Harnice, Board Counsel, Stoll, Keenon, Ogden, PLLC; Karen Basham, Chief Financial Officer; Michael Ray, Safety & Loss Control Manager; Crystal Hellard, Litigated Claims Manager; Jeremy Head, Claims Manager; Andrea Morse, Insurance Agency Manager; Phil Crumpton, Law Enforcement Liaison; Marie Skinner, Accounting Manager; Alyssa Rogers, Staff Accountant; Kathy Basham and Macy Thompson, Customer Service Representatives; Jennifer Burnett, Director of Strategic Operations; Shellie Hampton, Director of Government Affairs; Sue Porter (via video teleconference) and Michelle Barrett, Public Entity Insurance/KACo Marketing Agents; Joe Greathouse, Commonwealth Insurance Agency/KACo Marketing Agent; Rob Brown, Local Government Insurance Agency/KACo Marketing Agent; Greg Sisson (via video teleconference), Jeremy Russell, Ed Meredith, and Terry Banaszak, Charles Taylor TPA; Missi GeeAnn, Marsh, Inc.; Danny Linton, Pinnacle Actuarial Resources; Jesse Penn, Computer Support Specialist; and Sonya Chesser, Executive Assistant to CEO/Director of Administrative Services.
Chairman Terry called the meeting to order at 10:30 a.m.
Motion made by Adam O'Nan, seconded by David Nicholson, to approve the minutes of the July 29, 2025, meeting as presented. Motion carried.
Ms. Basham presented and discussed the following financial reports: balance sheet and statement of operations as of July 31, 2025; FY 2025/26 PAF budget for period July 1 - 31, 2025; FY 2025/26 agent commissions by agency as July 31, 2025; and premium receivable as of August 22, 2025.
Motion made by David Nicholson, seconded by Dan Mosley, to acknowledge receipt of the financial reports as presented. Motion carried.
Ms. Basham presented the investment report and security transactions for July 2025. 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 David Nicholson, seconded by Michael Logsdon, to acknowledge receipt of the investment report and to ratify the investment transactions as presented. Motion carried.
Mr. Linton presented and discussed the reserve study for the period ending June 30, 2025 as prepared by Pinnacle Actuarial Resources. He recommended setting the reserves at the level of nominal unpaid loss and ALAE at $63,836,000 per the June 30, 2025 actuarial report.
Motion made by Michael Logsdon, seconded by Adam O'Nan, to set the reserves as presented. Motion carried.
Mr. Head presented the quarterly claims report as of July 31, 2025.
Mr. Baird, giving the director's report, announced that the KACo Workers Compensation Fund and KACo All Lines Fund joint annual safety grant program is now open. This program allows members to apply for up to $10,000 in financial assistance to purchase safety equipment, training, or consulting services. The application deadline is September 19. Additionally, Mr. Baird said that the annual workers' compensation payroll audits are currently underway.
Mr. Ray mentioned that Safety National offers a grant program, providing up to $10,000 to insurance pools that are current Safety National workers' compensation policyholders, to help enhance workplace safety. He added that the Fund has applied for anti-slip shoe traction devices, aiming to reduce slip-and-fall claims caused by snow and ice. The winners will be announced on October 31.
The next meeting is scheduled for Sept. 29, at 10:30 a.m.
Motion made by Adam O'Nan, seconded by Dan Mosley, to go in closed session at 11:11 a.m. to discuss proposed or pending litigation involving the board as authorized by KRS 61.810(1)(c). Motion carried.
Motion made by David Nicholson, seconded by Dan Mosley, to return to open session at 11:22 a.m. Motion carried. There was no action taken in closed session.
Motion made by Michael Logsdon, seconded by David Nicholson, to adjourn the meeting at 11:22 a.m. Motion carried.
