Thursday September 25, 1997
The meeting was called to order at 10:40 a.m. by Colleen Driscoll, the Insurance Chairperson.
I.Introductions of the Insurance Committee members and the Insurance Brokers were made by Colleen.
II.Gene Donner was appointed recorder.
III.The following committee members were present at Roll Call: Colleen Driscoll, Bob Merrick, Anne McGuire, Marie Kreipe, Alan Levinson, Forrest Sullivan, Gene Donner and Mike Laux. John Peterson and Sandi Blumit were present from Peak Insurance Group and Ron Seaborg from Tierney, Seaborg & Stagg.
IV.Review of Current Policies and Premiums
Colleen Driscoll advised that the service provided by Peak Insurance Group as our insurance broker was not put out to bid this year (as was done last year) because both service and premium reductions proposed by Peak Insurance were very good.
Sandi Blumit discussed the role of Peak Insurance in obtaining the best possible bids for the USMS Insurance coverages. Sandi stated that she was working with various insurance carriers and presented renewal quotations for General Liability and Excess Liability with Fireman's Fund and TIG Insurance Company.
Sandi advised that our current General Liability carrier was imposing restrictions on the certificates of insurance which Sandi currently issues on behalf of the carrier for USMS. The carriers restrictions will make it difficult for USMS to operate in many instances. Therefore the quote from Fireman's Fund was appropriate. Sandi will request Fireman's Fund to reduce their quoted premium to be closer to TIG's quote.
A motion was made and approved by the committee that if Fireman's Fund revises their price, not to exceed $2.36 per participant, then we accept Fireman's Fund's proposal for General Liability.
Quotes were presented for the Excess Liability from both Fireman's Fund and TIG. Fireman's Fund's quote was $4,846 less than TIG, for the same terms and conditions. A motion was made and approved by the committee to accept Fireman's Fund's proposal.
Secondary Accident quotes from International Accident, Tierney, Seaborg & Stagg (TSS) and TIG were reviewed. Ron Seaborg representing TSS presented their renewal proposal. The TSS quote was $.10 less per participant than TIG and equal to Boston Mutual. Ron Seaborg committed to reducing his quote by $.05 per participant, making it the most competitive price. Both Ron and the claims adjustor handled our account at their prior carrier making them familiar with our program. A motion was made and approved by the committee to accept TSS's proposal.
Sandi stated that since Traci Grilli is an employee of USMS and not an independent contractor, she secured Workers' Compensation through The Hartford Insurance Company for a premium of $193.00. New Hampshire state law mandates that this coverage will be afforded to an employee.
V.Projected 1998 Programs
Sandi provided participants with the LMSC Insurance Summary handouts.
VI.Review of Loss History and Current Reserves
Sandi provided committee members a copy of our loss history over the past four years. Loss experience continues to be excellent. A discussion followed on the types of accidents and possible prevention. It was suggested that the Safety Education committee spearhead this issue by placing an article in SWIM Magazine to better inform our members.
The proposed Legislative changes made by the Fitness Committee were briefly discussed. The current wording is not supported by the Insurance Committee. Colleen Driscoll, Mike Laux, Forrest Sullivan and Sandi Blumit will meet with Joe Tesmer and members of the Fitness Committee to discuss amendments.
A list of "Frequently Asked Questions..." and answers was disseminated to help members better understand how insurance applies and will hopefully answer some of their questions.
A motion was made and approved by the committee to adjourn the meeting. The meeting was adjourned at 11:45 a.m..
Submitted by Colleen A. Driscoll, Insurance Chairperson.