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.

2008 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.
  6. Review and update the liability coverage document.
  7. Review with the ad hoc committee appointed at the 2007 Strategic Planning Retreat, MVRMA's current cost allocation formula and consider alternatives.
  8. Develop standardized vehicle reporting for all members prior to collecting the 2009 renewal information.