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The Kentucky Association of Counties Workers' Compensation Self-Insurance Fund held a Board of Trustees meeting at 11:00 a.m. on Wednesday, April 26, 2023. 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 61.826 and KRS 65.312(3).
The roll was called. The following Trustees were present: Chairman Greg Terry, Carlisle Co. Judge/Executive; Vice-Chair Dan Mosley, Harlan Co. Judge/Executive; Michael Logsdon, Oldham Co. Magistrate; Adam O'Nan, Union Co. Judge/Executive; and David Nicholson, Jefferson Co. Circuit Court Clerk.
Others present included: Jim Henderson, Executive Director/CEO; Temple Juett, Director of Insurance and Business; Kris Dunn, Associate Director of Insurance; Paul Harnice, Board Counsel, Stoll, Keenon & Ogden, PLLC; Tim Sturgill, General Counsel; Karen Basham, Chief Financial Officer; Rich Ornstein, Staff Attorney; Jeremy Head, Claims Manager; Crystal Hellard, Litigated Claims Specialist; Marie Skinner, Accounting Manager; Michael Ray, Safety and Loss Control Manager (via video teleconference); Phil Crumpton, Law Enforcement Specialist, Andrea Morse, Insurance Agency Manager; Kathy Basham, Macy Thompson and Lindsey Bowman, Customer Service Representatives; Alyssa Rogers, Staff Accountant; Sue Porter and Michele Barrett, Roeding Insurance/KACo Marketing Agents; Clint Combs, Hub/Peel & Holland/KACo Marketing Agent; Rob Brown, Local Government Insurance Agency/KACo Marketing Agent; Joe Greathouse, Commonwealth Insurance Company/KACo Marketing Agent; Ed Meredith and Jeremy Russell, Charles Taylor, TPA (via video teleconference); Kristie Whistle and GeeAnn Missi, Marsh, Inc.; Shellie Hampton, Director of Government Affairs; Jennifer Burnett, Director of Strategic Operations; Jeff McCraffrey and Mike Cook, DMLO; Jesse Penn, Computer Support Specialist; and Sonya Chesser, Executive Assistant to the CEO/Director of Administrative Services.
Chairman Terry called the meeting to order at 11:01 a.m.
Chairman Terry welcomed new member, Mr. Nicholson, to the board.
Motion made by Michael Logsdon, seconded by Dan Mosley, to approve the minutes of the March 29, 2023 meeting as presented. Motion carried.
Ms. Basham presented and discussed the following reports: balance sheet as of March 31, 2023; statement of operations and claims expense report as of March 31, 2023; check history report for period March 1 - 31, 2023; FY 2022/23 PAF budget for period July 1, 2022 - March 31, 2023; and FY 2022/23 agent commissions by agency as of March 31, 2023.
Motion made by Adam O'Nan, seconded by David Nicholson, to acknowledge receipt of the financial reports as presented. Motion carried.
Ms. Basham presented the investment report for March 2023; the investment transactions for March 2023; and the FY 2022/23 investment portfolio summary by month. 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 investment ratios except in equities.
Motion made by Dan Mosley, seconded by David Nicholson, to accept the investment report as presented. Motion carried.
Mr. McCaffery presented and discussed the quarterly financial statement as of March 31, 2023 as prepared by DMLO.
Motion made by Dan Mosley, seconded by Adam O'Nan, to approve the quarterly financial statement to be filed with the Kentucky Department of Insurance as presented. Motion carried.
Each board member signed the Trustee Confirmation of Receipt of the quarterly financial statement also to be filed with the Kentucky Department of Insurance.
Mr. Juett asked the marketing agents to provide a progress update for the FY 2023-24 insurance renewals. Ms. Porter and Mr. Combs both reported that the consensus from the membership is that they understand the reasons for the premium increase and also recognize the benefits and value-added services that KACo offers.
Mr. Juett, giving the director's report, said notices of cancellations will be sent out May 1 to those members who have not made a payment for FY 2022/23.
Mr. Crumpton provided an update on a virtual reality firearms simulator that the Fund is looking to purchase to replace the outdated MILO units. He welcomed the board to participate in a demonstration being offered in the Training Room today until 2 p.m.
The next board meeting will be May 24 at 11 a.m.
Motion made by Adam O'Nan, seconded by Michael Logsdon, to go into closed session at 11:39 a.m. to discuss proposed or pending litigation involving the board as authorized by KRS 61.810 (1)(c). Motion carried.
Motion made by Adam O'Nan, seconded by David Nicholson, to return to open session at noon. Motion carried. No action was taken in closed session.
Motion made by Dan Mosley, seconded by David Nicholson, to adjourn the meeting at noon. Motion carried.
