GOAL STATEMENT #3:

Provide stable insurance protection at predictable and competitive cost levels by developing sufficient financial reserves and/or purchasing reasonably-priced insurance products.

2011 OBJECTIVE STATEMENTS

  1. Conduct an independent financial audit and secure a "clean" auditing opinion.
  2. Conduct an independent actuarial study of loss reserves and secure a reserve adequacy opinion. 
  3. Conduct a loss funding study to determine the appropriate funding level for the upcoming year's loss fund and to determine the most financially advantageous SIR for the association.
  4. Conduct an annual coverage review with assistance from the Brokers to ensure that gaps in coverage are recognized and, where possible, minimized.  Provide a report of this review to the Board.
  5. Evaluate the investment results of our independent investment advisor Bond-Tech and review our Cash and Investment Policy.
  6. Review and update the liability coverage document.
  7. Implement mandatory reporting as required under the Medicare Secondary Payer Act.