[NOTE: These minutes are made available to the public prior to Insurance Committee acceptance.]
The meeting was called to order by Chairperson Polly Moon at 5:36 p.m.
Polly Moon-Chairman; Michael Fortunato-Vice Chairman; Jeff Kotkin-Town Council Liaison; Chris Bazinet; Paul Meade; Mathias DeAngelo (5:39); Lisa Hancock-Finance Director; Karen Clancy-Director of Business Services BOE; Greg Bedula-TD BankNorth; Andrea Santaniello-SS&S.
Excused Absences: Chris Lyons, Sey Adil
No one was present from the public for comment.
Mathias DeAngelo arrived at 5:39 p.m.
Chris Bazinet moved from the approval of the minutes from the meeting on May 29, 2008; seconded by Matthias DeAngelo. Motion carried. Mike Fortunato and Paul Meade abstained.
Paul Meade nominated Mike Fortunato as Chairman. Seconded by Polly Moon. Motion carried unanimously.
Mike took over as committee chair.
Polly Moon nominated Chris Bazinet as Vice Chair. Seconded by Mike Fortunato. Motion carried unanimously.
Greg Bedula stated that the Property Conservation Program was introduced by CIRMA in April. Purpose is what Town would do if there were a major loss. There is a meeting scheduled with Public Works for 9/25/08. CIRMA wants to review the fleet maintenance program. They will be reviewing vehicle use permissions, vehicle lists etc. Quarterly reviews for loss runs - review did not take place on 4/23/08. Next review is in November.
CIRMA is working with a property appraiser with the Town agencies to review all buildings. The plan is to have the appraisal completed by the end of October. Values may have to be increased on some of the buildings. This could lead to a possible premium increase next fiscal year.
Greg discussed the comparisons of valuation of losses between April 2008 and August 2008. There was not a lot of loss activity for Town and BOE over the last 4 months.
Workers compensation had a positive reduction in the 2008 and 2006 years.
Greg stated that there was a question at the 5/29 meeting regarding why the none of the Town autos were rated as Symbol 1 - (any and all vehicles covered). CIRMA will add all vehicles whether the Town has notified them or not. The Town now essentially has symbol 1 coverage.
Would CIRMA entertain a 2-year rate guarantee? CIRMA will look into it, but they want to know if the committee is serious about a 2-year commitment prior to looking into it. Greg recommends that the committee look at it and determine if it makes sense. Polly asked if other companies would be entering in the municipal arena. Greg mentioned that Travelers may be entering the municipal marketplace. Polly is concerned that any companies that are dealt with should have their financials reviewed due to the current economic situations with the insurance industry. The committee agreed to have CIRMA explore the 2-year commitment for the Town.
Greg Bedula left at 6:15 p.m.
Andrea Santaniello discussed the monthly report. The claims are looking better so far this year. The annual settlement report is not complete but will be done soon for FY 06/07.
Michael asked how the HSA program is going. Andrea will ask Chris to respond. Mike asked Karen Clancy if there was any feedback yet. Some have dropped out. Karen asked Andrea to have Chris report on any savings that may have been generated from the HSA's.
Michael discussed the topic of the audit of Health Insurance Claims. He would like to review that at the next meeting.
The next agenda will include a review of the audit topic and the prescriptions info.
Lisa discussed insurance fund for year end. The final reports for the settlement are not complete. She needs them in order to do final adjusting entries to the fund. So far the year ended with a positive balance of around $100,000 up from $30,000 at the beginning of the year.
Paul Meade asked about the word "disruption" in previous month's minutes. Lisa explained that it related to employees and staff needing to make changes to accommodate a new plan etc.
None.
Chris Bazinet moved to adjourn at 6:33PM, seconded by Paul Meade. Motion carried unanimoursly.