GARDEN STATE MUNICIPAL JOINT INSURANCE FUND STATEMENT OF OPERATIONS BY FUND YEAR As of October 31, 2018

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Gavin Conley
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1 As of October 3, Balance Underwriting Income 27,365,808 30,830,022 29,086,556 28,99,65 27,425,46 24,94,744 23,690,399 2,53,24 9,805,748 5,926,69 4,499,02 4,79,553 4,663,5 39,35,390 Special Assessment Plan 4,39,955 4,39,955 Total Income 27,365,808 30,830,022 29,086,556 28,99,65 27,425,46 24,94,744 23,690,399 2,53,24 9,805,748 5,926,69 4,499,02 4,79,553 45,983, ,67,344 Claim Losses 8,585,806 0,4,98 2,499,674,383,964 4,527,232 2,896,96 4,893,822 9,48,677 8,68,845 7,463,442 4,799,87 6,499,523 8,346,52 40,,573 Loss Adjustment 2,093,88 2,77,885 3,827,65 3,843,693 4,852,848 5,877,03 5,420,327 3,524,48 4,82,092 3,429,856 2,946,032 2,977,992 8,57,930 54,264,456 IBNR 7,505,300 4,005,769,420,76 24, ,22-468, , ,79 90,803,328 4,90,878 EPL Deductible & Co-Insurance (558,882) (278,033) (350,83) (769,798) (907,452) (780,653) (672,6) (409,49) (628,33) (56,270) (228,023) (92,743) (809,985) (6,742,545) Excess Recoveries (882,539) (730,477) (2,378,639) (929,47) (2,943,070) (7,728,388) (6,984,682) (,349,546) (,269,555) (,74,424) - (368,77) (2,670,749) (29,976,394) WC - (702,909) (9,509) - (599,046) (,76,084) - (489,990) (62,23) (377,06) - - (2,460,749) (6,059,56) GL (20,056) (40,542) - (4,903) - (25,254) (90,756) LEL (967,269) (,762,545) (,79,949) (4,52,762) AL - - (340,2) - (68,573) (339,573) (795,992) (,644,348) Property (882,539) (27,568) (897,05) (222,95) - (2,87) (3,638,305) (373,409) (7,54) (6,6,57) EPL/POL - - (949,903) (706,96) (,88,27) (4,97,457) (,554,428) (48,243) (,00,907) (28,86) - (288,06) (20,000) (0,74,509) EPL/POL Aggregate Stop (44,886) - (80,6) (495,002) All Lines Aggregate Stop (88,984) (88,984) Total Claim Expense 6,742,872 5,884,063 5,08,48 3,743,337 6,493,770 0,264,95 3,25,952,404,383 0,966,069 8,995,604 7,526,374 9,007,398 23,395,045 72,567,968 Excess Premiums 5,486,053 6,75,67 6,328,342 6,495,75 6,740,965 6,73,08 5,88,28 4,047,006 3,922,628 3,583,325 3,487,963 3,44,47 5,350,050 76,959,777 General Administrative 6,657,628 7,545,96 7,20,26 7,029,228 6,942,632 6,34,05 6,05,45 5,09,95 4,236,550 3,40,553 3,49,2 3,209,879 9,28,656 76,022,050 Total 2,43,68 4,26,28 3,538,468 3,524,943 3,683,597 2,487,033,203,543 9,066,20 8,59,78 6,993,878 6,637,74 6,65,296 24,63,706 52,98,826 Underwriting Profit/(Loss) (,520,745) 684,83 529, ,885 (2,75,907) 2,62,760 (639,096) 682, ,50 (63,33) 335,464 (867,4) (2,043,285) (,878,450) Net Realized/Unrealized Gains/(Losses) (66,525) (23,080) (0,903) (88,625) (5,579) (55,54) 5,73 268, ,238 83,73 98,604 43,874 28, ,237 Interest Income 39, , ,60 28, , ,699 73,66 98,394 94,570 28,685 29, ,22,454,82 4,228,29 Net Investment Income 73,297 24,59 87,257 92,66 72,777 8,545 88, ,26 467,808 32,398 37, ,095,483,498 4,653,365 Statutory Surplus (Deficit) (,447,447) 809,349 77,97,23,546 (2,579,30) 2,344,305 (450,758),49,873,48, , ,49 (383,045) (559,787) 2,774,95 % of Underwriting Income -5.3% 2.6% 2.5% 4.0% -9.4% 9.4% -.9% 5.4% 5.8%.6% 4.5% -2.6% -.3% 0.9% Variance (,447,447) (663,28) (68,405) (77,578) (502,84),979 (93,64) (69,748) 7,624 67,804 (82,293) (4,327) (306,047) (4,050,543) at Previous Month (,667,039) 787, ,942,2,892 (2,584,334) 2,382,800 (454,482),46,080,45, ,35 652,37 (383,045) (569,456) 2,520,89 Variance 29,592 22,280 8,255 0,654 5,204 (38,496) 3,724 3,793 2,352 (4,050),048-9, ,024 Total Members Total Claims 2,845 3,207 3,200 3,234 3,274 2,649 2,803 2,525 2,240,966,995 2,8 7,235 39,29 Severity Rate Total Open Claims ,675 * Severity rate is calculated as total GSMJIF incurred loss per $,000,000 of total payroll for all member towns in aggregate.

2 As of Sept 30, Balance Underwriting Income 24,629,228 30,830,022 29,086,556 28,99,65 27,425,46 24,94,744 23,690,399 2,53,24 9,805,748 5,926,69 4,499,02 4,79,553 4,663,5 36,64,809 Special Assessment Plan 4,39,955 4,39,955 Total Income 24,629,228 30,830,022 29,086,556 28,99,65 27,425,46 24,94,744 23,690,399 2,53,24 9,805,748 5,926,69 4,499,02 4,79,553 45,983, ,934,764 Claim Losses 6,586,349 0,09,549 2,422,990,52,722 4,530,800 2,680,432 4,827,397 9,46,270 8,804,945 7,459,947 4,799,87 6,553,04 8,364,22 37,707,82 Loss Adjustment,805,5 2,750,039 3,788,334 3,780,683 4,802,686 5,763,7 5,408,765 3,523,343 4,278,572 3,429,03 2,946,032 2,984,54 8,509,90 53,769,845 IBNR 7,60,605 4,027,642,530, ,92 92,424 57, , , ,79 3,50,325 5,59,549 EPL Deductible & Co-Insurance (536,883) (273,7) (344,96) (734,448) (906,552) (780,653) (672,6) (409,49) (628,33) (56,270) (228,023) (92,743) (809,985) (6,673,528) Excess Recoveries (45,000) (730,477) (2,378,639) (96,288) (2,854,588) (7,60,855) (6,984,545) (,349,546) (,489,35) (,74,424) - (368,77) (2,670,749) (29,30,423) WC - (702,909) (9,509) - (622,96) (,76,084) - (489,990) (62,067) (377,06) - - (2,460,749) (6,083,375) GL (20,056) (40,542) - (4,903) (50,034) (25,254) (340,790) LEL (90,272) (,762,52) (,79,8) (4,464,595) AL - - (340,2) - (68,573) (339,573) (795,992) (,644,348) Property (45,000) (27,568) (897,05) (222,95) - (2,87) (3,638,305) (373,409) (7,54) (5,323,977) EPL/POL - - (949,903) (693,337) (,32,727) (4,070,957) (,554,428) (48,243) (,00,907) (28,86) - (288,06) (20,000) (0,59,750) EPL/POL Aggregate Stop (44,886) - (80,6) (495,002) All Lines Aggregate Stop (258,586) (258,586) Total Claim Expense 5,4,222 5,883,636 5,08,3 3,742,580 6,493,770 0,28,38 3,25,92,403,802 0,966,069 8,99,266 7,526,374 9,007,398 23,404,74 7,93,264 Excess Premiums 4,937,447 6,75,67 6,328,342 6,495,75 6,740,965 6,73,08 5,88,28 4,047,006 3,922,628 3,583,325 3,487,963 3,44,47 5,350,050 76,4,7 General Administrative 5,99,866 7,545,96 7,20,26 7,029,228 6,942,632 6,34,05 6,05,45 5,09,95 4,236,550 3,40,553 3,49,2 3,209,879 9,28,656 75,356,287 Total 0,929,33 4,26,28 3,538,468 3,524,943 3,683,597 2,487,033,203,543 9,066,20 8,59,78 6,993,878 6,637,74 6,65,296 24,63,706 5,767,458 Underwriting Profit/(Loss) (,7,308) 685, ,957 93,643 (2,75,907) 2,209,330 (639,065) 683, ,50 (58,975) 335,464 (867,4) (2,052,954) (2,025,959) Net Realized/Unrealized Gains/(Losses) (62,673) (25,398) (03,62) (90,580) (52,882) (55,84) 4, , ,703 83,678 98,533 43,874 28,677 49,630 Interest Income 06,94 227,20 272,606 27, , ,284 69,837 94,455 92,753 28,432 28, ,22,454,82 4,27,220 Net Investment Income 44,268 0,82 68,985 8,250 67,573 73,47 84, ,84 465,456 32,0 36, ,095,483,498 4,546,850 Statutory Surplus (Deficit) (,667,039) 787, ,942,2,892 (2,584,334) 2,382,800 (454,482),46,080,45, ,35 652,37 (383,045) (569,456) 2,520,89 % of Underwriting Income -6.8% 2.6% 2.4% 3.9% -9.4% 9.6% -.9% 5.4% 5.8%.6% 4.5% -2.6% -.4% 0.8% Variance (,667,039) (685,408) (699,660) (88,23) (508,08) 50,475 (96,888) (73,54) 5,272 7,855 (83,34) (4,327) (35,76) (4,304,567) at Previous Month (,763,963) 90,00 802,47,63,207 (2,577,366) 2,39,440 (429,902),50,874,48,79 253, ,043 (383,045) (445,022) 2,875,754 Variance 96,924 (23,03) (03,205) (50,35) (6,968) (8,639) (24,579) (4,794) (2,835) (35) (2,672) - (24,434) (354,863) Total Members Total Claims 2,589 3,206 3,98 3,234 3,273 2,649 2,803 2,525 2,240,966,995 2,8 7,235 39,03 Severity Rate Total Open Claims ,742 * Severity rate is calculated as total GSMJIF incurred loss per $,000,000 of total payroll for all member towns in aggregate.

3 As of Aug 3, Balance Underwriting Income 2,892,647 30,830,022 29,086,556 28,99,65 27,425,46 24,94,744 23,690,399 2,53,24 9,805,748 5,926,69 4,499,02 4,79,553 4,663,5 33,878,228 Special Assessment Plan 4,39,955 4,39,955 Total Income 2,892,647 30,830,022 29,086,556 28,99,65 27,425,46 24,94,744 23,690,399 2,53,24 9,805,748 5,926,69 4,499,02 4,79,553 45,983,466 38,98,83 Claim Losses 5,74,979 9,483,904 2,033,823 0,88,325 4,558,963 2,522,053 4,905,964 9,43,596 8,805,78 7,459,968 4,800,468 6,553,04 8,253,770 35,387,545 Loss Adjustment,433,626 2,573,063 3,585,894 3,69,806 4,764,736 5,723,830 5,42,394 3,522,686 4,278,704 3,428,992 2,944,75 2,984,54 8,495,699 52,849,336 IBNR 7,82,237 4,205,372 2,006, , , ,69 496, , ,66 3,50,545 6,296,7 EPL Deductible & Co-Insurance (327,672) (273,7) (32,644) (726,90) (906,552) (876,90) (672,6) (409,49) (628,33) (56,270) (228,023) (92,743) (809,985) (6,59,989) Excess Recoveries - (203,53) (2,378,639) (878,549) (2,869,65) (7,595,05) (7,047,230) (,349,546) (,490,040) (,74,424) - (368,77) (2,670,749) (28,592,37) WC - (75,585) (9,509) - (658,044) (,72,890) (62,685) (489,990) (62,067) (377,06) - - (2,460,749) (5,650,626) GL (40,542) - (4,903) (50,034) (25,254) (320,733) LEL (90,272) (,762,52) (,79,8) (4,464,595) AL - - (340,2) - (68,573) (339,573) (795,992) (,644,348) Property - (27,568) (897,05) (222,95) - (2,87) (3,638,305) (373,409) (7,54) (5,278,977) EPL/POL - - (949,903) (655,598) (,32,727) (4,067,3) (,554,428) (48,243) (,00,907) (28,86) - (288,06) (20,000) (0,478,365) EPL/POL Aggregate Stop (44,886) - (80,6) (495,002) All Lines Aggregate Stop (259,49) (259,49) Total Claim Expense 4,003,70 5,786,070 4,934,667 3,706,279 6,493,770 0,28,370 3,04,95,403,725 0,966,069 8,99,266 7,524,857 9,007,398 23,280,280 69,420,872 Excess Premiums 4,388,842 6,75,67 6,328,342 6,495,75 6,740,965 6,73,08 5,88,28 4,047,006 3,922,628 3,583,325 3,487,963 3,44,47 5,350,050 75,862,566 General Administrative 5,326,03 7,545,96 7,20,26 7,029,228 6,942,632 6,34,05 6,05,45 5,09,95 4,236,550 3,40,553 3,49,2 3,209,879 9,28,656 74,690,524 Total 9,74,945 4,26,28 3,538,468 3,524,943 3,683,597 2,487,033,203,543 9,066,20 8,59,78 6,993,878 6,637,74 6,65,296 24,63,706 50,553,090 Underwriting Profit/(Loss) (,825,468) 782,824 63, ,943 (2,75,907) 2,209,34 (68,095) 683,35 680,50 (58,975) 336,98 (867,4) (,928,520) (,775,780) Net Realized/Unrealized Gains/(Losses) (30,334) (96,334) (80,29) (75,40) (45,378) (45,567) 9, ,06 276,53 84,06 99,89 43,874 28, ,694 Interest Income 9, ,60 268, ,404 29,99 227,666 68,264 93,497 92,38 28,365 28, ,22,454,82 4,097,840 Net Investment Income 6,505 27,276 88,725 95,264 74,54 82,099 88,93 467, ,290 32,425 38, ,095,483,498 4,65,534 Statutory Surplus (Deficit) (,763,963) 90,00 802,47,63,207 (2,577,366) 2,39,440 (429,902),50,874,48,79 253, ,043 (383,045) (445,022) 2,875,754 % of Underwriting Income -8.% 3.0% 2.8% 4.% -9.4% 9.6% -.8% 5.4% 5.8%.6% 4.5% -2.6% -.% 0.9% Variance (,763,963) (562,377) (596,455) (37,97) (50,050) 59,5 (72,308) (68,747) 8,07 72,70 (80,669) (4,327) (9,282) (3,949,704) at Previous Month (,845,047) 975, ,865,76,808 (2,598,740) 2,378,452 (435,027),43,73,44, , ,339 (383,045) (334,94) 2,959,74 Variance 8,084 (65,862) (38,78) (3,60) 2,374 2,988 5,25 7,43 4,348,0,704 - (0,08) (83,42) Total Members Total Claims 2,362 3,206 3,97 3,233 3,274 2,649 2,803 2,525 2,240,966,995 2,8 7,235 38,803 Severity Rate Total Open Claims ,696 * Severity rate is calculated as total GSMJIF incurred loss per $,000,000 of total payroll for all member towns in aggregate.

4 As of July 3, Balance Underwriting Income 9,56,066 30,830,022 29,086,556 28,99,65 27,425,46 24,94,744 23,690,399 2,53,24 9,805,748 5,926,69 4,499,02 4,79,553 4,663,5 3,4,647 Special Assessment Plan 4,39,955 4,39,955 Total Income 9,56,066 30,830,022 29,086,556 28,99,65 27,425,46 24,94,744 23,690,399 2,53,24 9,805,748 5,926,69 4,499,02 4,79,553 45,983,466 35,46,602 Claim Losses 4,482,04 9,240,578 2,007,83 0,930,792 4,598,443 2,462,709 5,002,492 9,47,432 8,805,72 7,468,969 4,782,750 6,556,80 8,5,490 33,872,022 Loss Adjustment,2,383 2,477,847 3,593,706 3,722,76 4,785,59 5,669,990 5,508,283 3,523,448 4,278,70 3,430,657 2,94,480 2,984,590 8,477,290 52,55,072 IBNR 7,396,476 4,358,37,579, , ,96 424,244 5,744 22, ,650 26,927 58,25 6,229,722 EPL Deductible & Co-Insurance (334,769) (277,087) (98,680) (726,856) (96,552) (876,29) (672,6) (409,49) (628,33) (56,270) (228,023) (92,743) (809,985) (7,20,47) Excess Recoveries (39,002) (7,053) (,332,96) (,027,540) (2,8,77) (7,462,289) (7,246,58) (,349,546) (,490,040) (,74,424) - (368,77) (2,670,749) (27,756,665) WC - (89,485) (76,3) - (594,766) (,69,985) (33,38) (489,990) (62,067) (377,06) - - (2,460,749) (5,453,840) GL (40,542) - (4,903) (50,034) (25,254) (320,733) LEL (90,272) (,762,545) (,96,076) (4,633,893) AL - - (34,500) - (74,006) (339,573) (795,992) (,65,07) Property (39,002) (27,568) (85,04) (222,95) - (2,87) (3,638,305) (373,409) (7,54) (5,336,068) EPL/POL (804,589) (,32,727) (3,937,457) (,63,396) (48,243) (,00,907) (28,86) - (288,06) (20,000) (9,606,566) EPL/POL Aggregate Stop (44,886) - (80,6) (495,002) All Lines Aggregate Stop (259,49) (259,49) Total Claim Expense 2,526,03 5,682,657 4,866,53 3,672,430 6,505,60 0,28,362 3,04,200,403,709 0,966,069 9,00,933 7,524,857 9,007,398 23,70,72 67,650,004 Excess Premiums 3,840,237 6,75,67 6,328,342 6,495,75 6,740,965 6,73,08 5,88,28 4,047,006 3,922,628 3,583,325 3,487,963 3,44,47 5,350,050 75,33,96 General Administrative 4,660,340 7,545,96 7,20,26 7,029,228 6,942,632 6,34,05 6,05,45 5,09,95 4,236,550 3,40,553 3,49,2 3,209,879 9,28,656 74,024,76 Total 8,500,577 4,26,28 3,538,468 3,524,943 3,683,597 2,487,033,203,543 9,066,20 8,59,78 6,993,878 6,637,74 6,65,296 24,63,706 49,338,722 Underwriting Profit/(Loss) (,870,64) 886,237 68,575,00,793 (2,763,737) 2,209,348 (67,345) 683, ,50 (69,642) 336,98 (867,4) (,88,42) (,527,24) Net Realized/Unrealized Gains/(Losses) (45,554) (20,376) (99,53) (88,339) (52,633) (53,786) 6,02 269,56 273,476 83,678 98,775 43,874 28, ,843 Interest Income 7,2 20,02 258,82 263,354 27,63 222,889 66,297 90,839 90,466 28,32 27, ,22,454,82 4,032,455 Net Investment Income 25,567 89,725 59,290 75,05 64,997 69,03 82,37 460, ,942 3,99 36, ,095,483,498 4,486,298 Statutory Surplus (Deficit) (,845,047) 975, ,865,76,808 (2,598,740) 2,378,452 (435,027),43,73,44, , ,339 (383,045) (334,94) 2,959,74 % of Underwriting Income -9.6% 3.2% 2.9% 4.2% -9.5% 9.5% -.8% 5.4% 5.8%.5% 4.5% -2.6% -0.8%.0% Variance (,845,047) (496,55) (557,737) (24,36) (522,424) 46,26 (77,434) (75,889) 3,759 6,068 (82,373) (4,327) (8,74) (3,866,284) at Previous Month (,855,324),078,69 923,49,209,857 (2,599,044) 2,377,72 (435,355),65,822,44, , ,242 (383,040) (334,87) 3,28,509 Variance 0,277 (02,207) (82,285) (33,050) (22,09) 60 (3,495) 97 (6) (98) (259,335) Total Members Total Claims,989 3,204 3,97 3,234 3,272 2,649 2,803 2,525 2,240,966,995 2,8 7,234 38,426 Severity Rate Total Open Claims ,676 * Severity rate is calculated as total GSMJIF incurred loss per $,000,000 of total payroll for all member towns in aggregate.

5 As of June 30, Balance Underwriting Income 6,49,485 30,830,022 29,086,556 28,99,65 27,425,46 24,94,744 23,690,399 2,53,24 9,805,748 5,926,69 4,499,02 4,79,553 4,663,5 308,405,066 Special Assessment Plan 4,39,955 4,39,955 Total Income 6,49,485 30,830,022 29,086,556 28,99,65 27,425,46 24,94,744 23,690,399 2,53,24 9,805,748 5,926,69 4,499,02 4,79,553 45,983,466 32,725,02 Claim Losses 3,56,559 8,83,050,938,46 0,764,667 4,482,052 2,402,444 4,973,570 9,465,427 8,799,270 7,42,020 4,780,36 6,542,477 8,02,560 3,992,603 Loss Adjustment 904,995 2,384,744 3,555,092 3,677,08 4,77,20 5,68,636 5,499,75 3,533,65 4,277,430 3,48,073 2,94,039 2,982,934 8,475,477 5,985,50 IBNR 6,922,854 4,778,344,609,07 937,30 987,439 47, , ,286-38,03 3,480 42,90 72,77 6,62,254 EPL Deductible & Co-Insurance (326,837) (279,884) (986,25) (728,242) (93,264) (876,29) (672,6) (409,49) (628,33) (56,270) (228,023) (92,743) (809,985) (7,207,683) Excess Recoveries (8,000) (7,053) (,332,96) (,02,06) (2,767,736) (7,343,990) (7,246,58) (,433,750) (,482,39) (,74,424) - (368,77) (2,670,749) (27,524,379) WC - (89,485) (76,3) - (59,766) (,69,985) (33,38) (574,94) (62,23) (377,06) - - (2,460,749) (5,535,00) GL (40,343) - (4,903) (50,034) (25,254) (320,534) LEL (90,272) (,762,545) (,96,076) (4,633,893) AL - - (34,500) - (7,909) (339,573) (795,992) (,648,973) Property (8,000) (27,568) (85,04) (222,95) - (2,87) (3,638,305) (373,409) (7,54) (5,205,066) EPL/POL (789,55) (,093,790) (3,89,357) (,63,396) (48,243) (,00,907) (28,86) - (288,06) (20,000) (9,434,096) EPL/POL Aggregate Stop (44,886) - (80,6) (495,002) All Lines Aggregate Stop (25,74) (25,74) Total Claim Expense,009,570 5,579,200 4,783,42 3,638,709 6,505,60 0,28,362 3,04,88,380,709 0,966,069 8,970,42 7,524,857 9,007,392 23,70,074 65,858,297 Excess Premiums 3,29,632 6,75,67 6,328,342 6,495,75 6,740,965 6,73,08 5,88,28 4,047,006 3,922,628 3,583,325 3,487,963 3,44,47 5,350,050 74,765,356 General Administrative 3,994,577 7,545,96 7,20,26 7,029,228 6,942,632 6,34,05 6,05,45 5,09,95 4,236,550 3,40,553 3,49,2 3,209,879 9,28,656 73,358,998 Total 7,286,209 4,26,28 3,538,468 3,524,943 3,683,597 2,487,033,203,543 9,066,20 8,59,78 6,993,878 6,637,74 6,65,296 24,63,706 48,24,354 Underwriting Profit/(Loss) (,876,294) 989, ,946,035,54 (2,763,747) 2,209,348 (67,333) 706,33 680,50 (38,2) 336,98 (867,35) (,88,35) (,257,630) Net Realized/Unrealized Gains/(Losses) (28,83) (04,235) (86,545) (79,559) (48,74) (47,834) 8, ,5 275,330 83,96 99,546 43,874 28, ,4 Interest Income 49,53 92,7 244, ,903 22,877 26,206 63,89 85,980 88,452 28,049 26,75 440,22,454,82 3,947,024 Net Investment Income 20,970 88,476 58,203 74,344 64,703 68,373 8, ,49 463,782 3,965 36,26 484,095,483,498 4,476,38 Statutory Surplus (Deficit) (,855,324),078,69 923,49,209,857 (2,599,044) 2,377,72 (435,355),65,822,44, , ,242 (383,040) (334,87) 3,28,509 % of Underwriting Income -.3% 3.5% 3.2% 4.3% -9.5% 9.5% -.8% 5.5% 5.8%.7% 4.5% -2.6% -0.8%.0% Variance (,855,324) (394,309) (475,453) 8,734 (522,728) 45,396 (77,76) (53,799) 3,599 92,563 (82,470) (4,32) (8,077) (3,606,949) at Previous Month (36,56),384,39,43,752,67,479 (2,072,4) 2,24,909 (254,485),347,890,43,920 77,467 70,0 (340,39) (262,488) 6,529,887 Variance (,79,68) (305,970) (508,603) 42,378 (526,633) 35,82 (80,870) (82,068) ,377 (47,769) (42,90) (72,329) (3,3,379) Total Members Total Claims,695 3,200 3,95 3,233 3,272 2,649 2,803 2,525 2,240,966,995 2,8 7,234 38,25 Severity Rate Total Open Claims ,683 * Severity rate is calculated as total GSMJIF incurred loss per $,000,000 of total payroll for all member towns in aggregate.

SUMMARY OF FINANCIAL POSITION AND OPERATIONS. ($000s omitted)

SUMMARY OF FINANCIAL POSITION AND OPERATIONS ($000s omitted) Consolidated Personal Lines Account FY FY Budget YOY Var Budget Var FY FY Budget YOY Var Budget Var Operations: Direct written premium $ 868,417