Yolo County Public Agency Risk Management Insurance Authority YCPARMIA BOARD MEETING. Thursday, June 23, 2011 at 9:30 a.m.

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1 1. Call to Order 2. Approval of Agenda Yolo County Public Agency Risk Management Insurance Authority AGENDA YCPARMIA BOARD MEETING Thursday, June 23, 2011 at 9:30 a.m. YCPARMIA 77 W. LINCOLN AVE. WOODLAND, CA THIS TIME IS RESERVED FOR MEMBERS OF THE PUBLIC TO ADDRESS THE BOARD ON ANY MATTER WHETHER OR NOT IT IS ON THE AGENDA, BUT STATE LAW PROHIBITS ACTION BY THE BOARD ON NONAGENDA ITEMS 4. Communications A. Board Members B. C. Next Meeting 5. Consent Calendar A. Approval of Minutes 6. Action Items A. Reinsurance of the Esparto School Bus Fleet B. Cash Payment for the General/Auto Liability Program for FY11/12 C. Renewal of the Fidelity Excess Coverage D. Cash Payment for the Fidelity Program for FY11/12 E. Cash Payment for the Property Program for FY11/12 F. Cash Payment for the Workers Compensation Program for FY11/12 G. Election of Officers The meeting room is wheelchair accessible and disabled parking is available. If you are a person with a disability and you need disability-related modifications or accommodations to participate in this meeting, please contact our office at (530) or Fax (530) Requests for such modifications or accommodations must be made at least 48 hours before the start of the meeting.

2 7. Information Items A. YCPARMIA Financial Report B. YCPARMIA Investment Statement C. Notification of New Claims Received Since the Previous Board Meeting D. Closed Liability Files E. Workers Comp Monthly Summary F. Certificates Issued G. Statement of Revenues, Expenses and Retained Earnings H. Workers Compensation Program Assessment I. Strategic Planning 8. Closed Session Murillo v. Woodland et al The meeting room is wheelchair accessible and disabled parking is available. If you are a person with a disability and you need disability-related modifications or accommodations to participate in this meeting, please contact our office at (530) or Fax (530) Requests for such modifications or accommodations must be made at least 48 hours before the start of the meeting.

3 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY COMMUNICATIONS AGENDA ITEM NO. 4B s Report Information Only The will be reporting on the following items: 1. CAJPA is scheduled for September 7 th 9 th in South Lake Tahoe; rooms have been reserved. 2. In response to dramatically increased litigation costs, CJPRMA has modified its excess reporting requirements to include all employment based suits regardless of reserves. 3. A group of CJPRMA members is beginning to explore creating an excess workers compensation program. 4. York is upgrading their data system, and as a result we will be ending our practice of keeping duplicate paper files; we will maintain our own electronic file diaries, and our paper files will only include correspondence from/to us, and attorney reports. Respectfully submitted,

4 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY COMMUNICATIONS AGENDA ITEM NO. 4C Next Meeting Information Only The following is the date of our next Board meeting: DATE: August 25, 2011 Respectfully submitted,

5 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY CONSENT CALENDAR AGENDA ITEM NO. 5A Minutes That the Minutes of the Regular Board Meeting of May 5, 2011 be Approved as Submitted Attached is a copy of the minutes of the YCPARMIA Regular Board Meeting for May 5, 2011 for your review. Respectfully submitted,

6 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY ACTION ITEM AGENDA ITEM No: 6A Reinsurance of the Esparto School Bus Fleet That the Board authorize the CEO/Risk Manger to bind coverage with an annual premium not to exceed $28,000 The YCPARMIA Liability Memorandum of Coverage excludes coverage for multipassenger vehicles with over 20 seats, but endorsement #2 exempts the Esparto School bus fleet from the exclusion. There is a similar endorsement on our excess coverage. In order to protect the risk sharing pool from a potentially catastrophic exposure of multiple injuries in a single accident, YCPARMIA has historically re-insured the bus exposure by purchasing separate commercial coverage for the risk. The premium for this coverage is included with our CJPRMA costs in the budget under Excess Liability Coverage. The renewal quote (unfortunately as always) has not yet been received, but will be in hand by the Board meeting. The broker is anticipating a flat renewal with less than a 2% increase with the same terms and carrier. Last year s premium was $26,669 (up from $26,080 the previous year) for $5M in liability and uninsured motorist coverage; there are 11 vehicles in the fleet. The policy also provides physical damage coverage for the buses; the cost of this coverage ($5,284 last year) is passed back to the District. FISCAL IMPACT: The cost of the reinsurance is already included in the budget under Liability Excess Coverage. Respectfully Submitted,

7 Yolo County Public Agency Risk Management Insurance Authority ACTION ITEM AGENDA ITEM No: 6B Cash Payment for the General/Auto Liability Program for FY 11/12 That the Board approve the General/Auto Liability Program s cash payment of $2,725,587 for FY 11/12, approve a rebate/credit of $91,000, and direct the to bill there payments after July 1, The General/Auto liability payment is determined by using the Board approved formula found in our Bylaws based on known and projected costs, credits, 2010 calendar payroll, and a three-year incurred loss history ending on December 31, The Board has a policy of funding the actuarially determined confidence level of 70%. By applying the premium formula to program figures we generate a premium/cash payment total of $2,725,587 for the coming fiscal year. The program has generated a projected surplus of about $520,000. We are proposing that this surplus be used for two purposes. The first is to reduce next year s premium to the same amount as this year s total. The second is to pay an assessment for partially funding a program reserve deficit in the Workers Compensation Program. We are therefore recommending that the Board approve a rebate/credit of $91,000 to be applied to next year s liability premium. Last year s premium, which was frozen at the previous year s level, was $2,634,546; after applying the proposed $91,000 rebate credit to the $2,725,587 premium generated by our premium/cash payment formula, the total member cost for the coming year would be $2,634,587. This appears to represent a flat premium. After this recommended premium rebate/credit the Liability Program will: Have fully funded program reserves; Have a fully funded confidence margin; Have a fully funded catastrophic fund; Have about $429,000 available to cover a WC Program assessment.

8 The premium/cash payment will be as follows: ENTITY CASH PAYMENT REBATE Less rebate CITY OF DAVIS $420, $16, $404, ESPARTO USD $36, $1, $34, CITY OF W. SACTO. $434, $18, $416, CITY OF WINTERS $48, $ $47, CITY OF WOODLAND $434, $18, $416, COUNTY OF YOLO $1,258, $32, $1,225, YECA $17, $ $17, YOLO SOLANO AQMD $15, $ $15, CAPAY FPD $5, $ $4, IHSS/PUBLIC AUTHORITY $5, $ $4, DAVIS CEMETERY $5, $ $4, LAW LIBRARY $ $16.68 $ YOLO CO. HABITAT JPA $2, $83.40 $2, MADISON FIRE DISTRICT $5, $ $4, WINTERS CEMETERY DIST. $5, $ $4, SPRINGLAKE FPD $ $16.68 $ EAST DAVIS FPD $ $16.68 $ NO MAN'S LAND FPD $ $16.68 $ DUNNIGAN FIRE $5, $ $4, LAFCO $ $16.68 $ COTTONWOOD CEMETERY $ $16.68 $ CLARKSBURG FIRE $5, $ $4, WINTERS FIRE $5, $ $4, PORT $8, $ $8, Madison Service District $5, $4, TOTAL CASH PAYMENT $2,725, $91, $2,634, FISCAL IMPACT: The recommended funding level is reflected in the approved Budget. Respectfully Submitted,

9 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY ACTION ITEM AGENDA ITEM NO. 6C Renewal of the Fidelity Excess Coverage That the Board approve a three-year renewal of the excess coverage at a total cost of $38,234 (or $12,744 per year). Our three year excess fidelity policy is expiring on June 30. The renewal quote with the same carrier and terms has been received. A three year prepaid policy with a $2 million policy limit is quoted as an annual premium of $12,744. Three-year total would be $38,234. Our expiring policy was at $42,910. We received an alternate quote with $3 million policy limits with a three-year total premium of $46,576. YCPARMIA was able to increase their limits from $1M to $2M a few years ago; at this point we really not see any justification for increasing limits to $3M, so the recommendation is to renew with a $2M limit. FISCAL IMPACT: The new budget has a $14K total for excess fidelity coverage. The additional amount is needed to cover any increases in member payroll that could trigger a retrospective premium adjustment. Respectfully submitted,

10 Yolo County Public Agency Risk Management Insurance Authority ACTION ITEM AGENDA ITEM No: 6D Fidelity Cash Payment That the Board approve the Fidelity Cash Payment for FY of $27,431, approve a rebate/credit of $6,000, and direct the CEO/Risk Manager to bill these cash payments after July 1, The premium formula for this program is found in YCPARMIA Bylaws. The total premium cost is determined by adding the cost of excess coverage, administrative expenses (1% of the YCPARMIA total) and pooled claim costs; the individual member's share of the total employee headcount determines their proportionate share of the total premium. There were no claims for reported in the past few years so we have built up an excess surplus estimated at $6,991. We are recommending that the board declare a $6,000 rebate credit for this program. After this proposed rebate the program will: Have a fully funded confidence margin; A fully funded catastrophic fund; A small remaining excess surplus. Last year s premium, after rebate credit, was $19,686. This year s recommended amount is $21,431, or an increase of $1,745. The increase is caused by a reduction in available rebate funds. The premium/cash payment will be as follows: Premium ENTITY PREMIUM REBATE Less Rebate CITY OF DAVIS $5, $1, $4, ESPARTO SCHOOL DIST $1, $ $ CITY OF W SACRAMENTO $4, $ $3, CITY OF WINTERS $ $ $ CITY OF WOODLAND $3, $ $2, COUNTY OF YOLO $11, $2, $8, YECA $ $55.19 $ YOLO/SOLANO AQMD $ $14.24 $ IHSS $29.94 $7.38 $22.56

11 YOLO COURTS $ $ $ CLARKSBURG FPD $14.97 $3.69 $11.28 DUNNIGAN FPD $22.45 $4.23 $18.22 MADISON SERVICE $22.45 $1.64 $20.81 TOTAL $27, $6, $21, FISCAL IMPACT: The recommended premium is consistent with the approved budget. Respectfully Submitted,

12 Yolo County Public Agency Risk Management Insurance Authority ACTION ITEM AGENDA ITEM NO. 6E Cash Payment for the Property/Boiler & Machinery Program for FY 11/12 That the Board approve the Property/Boiler & Machinery Cash Payment for FY 11/12 of $455,723, approve a rebate/credit of $117,000, and direct the to bill these cash payments after July 1, The YCPARMIA Bylaws contain the premium formula for this combined program. The formula calls for adding excess coverage, pooled risk funds, and administrative expenses (3% of the YCPARMIA total) to determine the total premium. The total premium is then apportioned among the participating members based on their percentage share of declared property values. The excess insurance group charges a higher rate for the Port, which in turn generates a surcharge over normal member costs that is passed thru to them. Declared values have increased to $963,538,615 (about a 3.3% increase over last year). The excess insurance component of the total premium is 77% of the total premium. Due to limited losses, the program has developed an anticipated surplus of about $157,000. We are recommending that the Board declare a rebate/credit of $117,000 to reduce this year s premium. After the proposed rebate the program will: Have a fully funded confidence margin A fully funded catastrophic fund; A small excess surplus needed to cover existing losses. Last year s premium, after rebate credit, was $339,127; this year s total is $338,723, or a reduction of $404. It should be remembered that declared values increased 3.3% this year, and the program, due to these increasing values, is vulnerable to a future hardening excess market.

13 The premium/cash payment will be as follows: ENTITY PREMIUM REBATE PREM less Rebate CITY OF DAVIS $69, $18, $50, ESPARTO SCHOOL DIST $11, $2, $8, CITY OF W SACRAMENTO $107, $23, $83, CITY OF WINTERS $10, $1, $8, CITY OF WOODLAND $59, $16, $43, COUNTY OF YOLO $116, $32, $84, YECA $4, $1, $3, YOLO-SOLANO AQMD $ $ $ CAPAY VALLEY FPD $ $ $ IHSS $63.45 $16.47 $46.98 DAVIS CEMETERY DIST $ $ $ LAW LIBRARY $ $ $ YOLO COURTS $2, $ $1, CLARKSBURG FPD $1, $ $ MADISON FIRE DIST $ $ $ WINTERS CEMETERY DIST $ $79.33 $ COTTONWOOD CEMETERY $10.60 $2.92 $7.68 DUNNIGAN FPD $ $ $ WINTERS FPD $1, $ $ PORT $68, $18, $49, MADISON SERVICE $45.92 $7.45 $38.47 TOTAL $455, $117, $338, FISCAL IMPACT: The premium total is consistent with our approved budget. Respectfully Submitted,

14 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY ACTION ITEM AGENDA ITEM NO. 6F Cash Payment for the Workers Compensation Program for FY 11/12 That the Board approve the Workers Compensation Program s cash payment for FY 11/12 in the amount of $4,222,697 The Workers Compensation payments are normally determined by using the Board approved formula found in the YCPARMIA Bylaws. This formula uses known and projected cost, credits, 2010 calendar year payroll, and a three-year paid to date history ending December 31, Catastrophic claims are capped at $75,000 and deductible payments or rolled into the calculations. The Board, as a matter policy, funds at an actuarially determined 70% confidence level. In response to the ongoing fiscal crisis facing our members, the Board has suspended the normal funding process. Two years ago the board approved a premium renewal at a reduced flat rate; last year they funded at a five-year historical average. Both these amounts proved to be inadequate, and resulted in greater program deficits. The board has again directed that the premium formula be modified with a goal of avoiding premium increases for our members. As a compromise we are recommending a total premium figure that is based on an average of the premium formula, last year's paid premium, a five year average of program expenses, and this year's budgeted costs. The goal is to get a figure lower than would be generated by the premium formula, but sufficient to keep the program from slipping into a deeper hole. Using this average we come up with a figure of $4,222,697. The premium formula, if used, would generate $4,463,309. As previously discussed we are dealing with two separate, but interrelated financial elements: The premium/cash payments charged to our members, and The program reserves. All we are dealing with today is the premium figure but it must be adequate to avoid further deterioration in the program reserves. The recent history is illustrates this.

15 Premium after rebates End of the year surplus/deficit after rebate 05/06 4,099, ,948 06/07 3,993, ,703 07/08 2,404, ,154 08/09 2,939,813 (794,272) 09/10 2,944,813 (2,668,789) 10/11 4,038,668 (4,755,788) estimate 11/12 4,222,697 recommended As indicated, last year the paid premium/cash payment was $4,038,668; this year we are recommending a cash/premium payment of $4,222,697, or an increase of $184,029. It is important to note that the individual member s share of the total payment can change based on their three-year payment history. The premium/cash payment will be as follows: Entity Premium City of Davis $823, Esparto USD $146, City of W Sacramento $856, City of Winters $25, City of Woodland $682, County of Yolo $1,598, YECA $19, Yolo-Solano AQMD $15, Capay Valley FPD $5, IHSS $5, Davis Cemetery $10, Madison FPD $5, Winters Cemetery $5, Cottonwood Cemetery $ Clarksburg FPD $5, Winters FPD $5, Dunnigan FPD $5, Yolo Co Habitat JPA $2, Madison CSD $5, LAFCO $ $4,222, FISCAL IMPACT: The recommended amount of $4.2M is below the approved budget amount of $4.4M. Respectfully submitted,

16 Yolo County Public Agency Risk Management Insurance Authority ACTION ITEM AGENDA ITEM NO. 6G Election of Officers That the Board nominate and elect a President and a Vice President for FY 11/12. YCPARMIA s By-laws require the officers of YCPARMIA Board of Directors be elected on an annual basis prior to the beginning of the new fiscal year. Traditionally, the president and vice president, while elected annually, serve for two successive terms. Pres. Chaney, and VP Brock have now completed two years in office. FISCAL IMPACT: There is no anticipated cost associated with the recommended action. Respectfully submitted,

17 Yolo County Public Agency Risk Management Insurance Authority INFORMATION ITEM AGENDA ITEM NO. 7A YCPARMIA Financial Report Information only, no action required Attached are the YCPARMIA s Financial Report through May 31, 2011 for your review. Respectfully submitted,

18 Yolo County Public Agency Risk Management Insurance Authority INFORMATION ITEM AGENDA ITEM NO. 7B. For your information: Investment Statement YCPARMIA Investment Statement Information only, no action required LAIF as of 4/30/2011: $ 3,485, CHANDLER as of 4/30/2011: $ 8,053, TOTAL AS OF 4/30/2011: $ 11,538, LAIF as of 5/31/2011: $ 3,185, CHANDLER as of 5/31/2011: $ 8,088, TOTAL AS OF 5/31/2011: $ 11,274, Attached are the Portfolio Summary pages from Chandler Asset Management for the months of April and May Total accrued interest, January through May is $46,474, giving a total market value of $8,088,365. We will continue to conference with YCPARMIA s investment advisors on a quarterly basis to discuss anticipated trends and make any necessary adjustments. Complete reports are available upon request. For your information: Outstanding Reserves Total as of 4/30/2010: $ 7,361, Total as of 3/31/2011: $ 7,830, Total as of 4/30/2011: $ 7,829, Respectfully submitted,

19 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY INFORMATION ITEM AGENDA ITEM NO. 7C Notification of New Claims Received Since the Previous Board Meeting Information only, no action required Attached is a list of new Liability claims that have been received by YCPARMIA since the last Board Meeting. For your convenience, we have also included a list of all open Liability claims. Respectfully submitted,

20 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY INFORMATION ITEM AGENDA ITEM NO. 7D Closed Liability Files Information only, no action required Attached is our report on closed liability files. Recognizing that this agenda is a public document, it should be emphasized that the information provided is general. It is probable during the course of the year, that some files that close with a denial will reopen for litigation. Respectfully submitted,

21 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY INFORMATION ITEM AGENDA ITEM NO. 7E Workers Comp Loss Run Summary Information Only; no action required. Attached is the loss run summary for the workers compensation program through May 31, With three quarters of the fiscal year completed we are continuing to see a small, but positive shift in the program when compared to last year. Claim frequency remains flat, while severity continues to be good as measured by the proportion of indemnity claims. Frequency: 353claims were reported to YCPARMIA during the first nine months of our fiscal year. This is an average of claims per month. Last year we averaged 35.4 claims per month so our average is trending down; it is important to remember how volatile small numbers can be. Severity: Of the 353claims, 62 (17.5%) were coded as indemnity due to reserved exposures for temporary disability and/or permanent disability. THIS REMAINS A VERY POSITIVE INDICATOR. 5.6 indemnity claims per month is flat when compared with the last year where we averaged 6 claims per month. Indemnity claims are our big cost drivers so reduced numbers should lead to lower actuarial projections. Benefits: Our average monthly total for total benefits paid thru the first eleven months is $240,803; this is down from $291,410 per month last year, and has recently been trending lower. Temporary Disability: This class of benefits has increased over last year; obviously the way to reduce this cost is to provide temporary accommodations to work restrictions. Permanent Disability: This class isflat when compared to last year. Compromise and Release Settlements: We have seen an increase in these costs which is a positive; a C&R means a closed file, and ends our future medical exposure. Medical Costs: This benefit cost has decreased when compared to last year, and has returned to its anticipated range based on previous good years. THIS IS A VERY POSITIVE INDICATOR. Vocational Rehabilitation: This benefit, following the 2004 reforms, has all but disappeared; to date there have been no payments made in this category. Legal, Investigative, Subrosa, etc: Our legal and sub rosa costs are trending flat; increases are tied directly to greater use of subrosa investigations.

22 Inventory: Open indemnity claims ended the month at 212 which is higher than our goal of 200. Reserves: Future reserves on open files are at $6,994,490.or about $227Klower than they were as the beginning of the fiscal year; unfortunately total file reserves are $291K higher than they were at the same time last year. Additionally the total is still much higher than our benchmark, and supports our actuary s call for higher program reserves. THIS IS A FACTOR THAT CAUSES CONCERN, AND WILL REQUIRE US TO REEVALUATE OUR BENCHMARKING. An immediate response would be to set $7M on 200 indemnity claims as our reserve benchmark; we will be refining these numbers over the summer. Program Health: Based on program funding, we would have to average less than $229K in monthly benefit costs to maintain our start-of-the-year weak-fiscal-position. Last year benefit payments averaged $291,410 per month, Through the first eleven months of this fiscal year we are averaging $240,803 (this has been trending down throughout the last half of the year). o This projects to a reduction of about $600K over the fiscal year, but o Will still come in $175K above our year-end goal. While the trend is positive, it is fragile given the small numbers that we are dealing with. Additionally, the numbers are still higher than where we projected them to be. The best tool for continuing the trend remains a stronger commitment to loss prevention by our members. Board members will be given additional statistical reports on benefit payments, and loss history at the meeting. Respectfully submitted,

23 Yolo County Public Agency Risk Management Insurance Authority INFORMATION ITEM AGENDA ITEM NO. 7F Certificates Issued Information Only; no action required. Attached is a list of the certificates that have been issued since the last Board Meeting. Respectfully Submitted,

24 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY INFORMATION ITEM AGENDA ITEM NO. 7G Statement of Revenues, Expenses and Retained Earnings Information Only; no action required. Attached is the projected fourth quarter s Statement of Revenues, Expenses and Retained Earnings. We can skip over the Liability, Property and Fidelity programs. In the simplest of terms all are fully funded, and are generating a surplus that should be available for premium rebate credits or as recommended to be applied to increase funding of the Workers Compensation program reserves. The Workers Compensation program will require greater discussion. WORKERS COMPENSATION: The Board has made a series of decisions, in response to an ongoing fiscal crisis that is affecting all California public entities, to disregard the YCPARMIA premium formula, and fund at a reduced level. As a result we have seen the exhaustion of the confidence and catastrophic funds, and now a deterioration of program reserves. In summary we are projecting: $4,755,788 program deficit, made up of: o $2,211,653 unfunded confidence margin o 1,500,000 unfunded catastrophic fund o 1,044,135 program reserve deficit $470,000 approved assessment credit $574,135 program reserve deficit to start the fiscal year. It is strongly recommended that the Board set a goal of ending FY 11/12 with fully funded program reserves (in other words wipe out the $574K shortfall). There are various ways of doing this without necessarily impacting premium. The most dynamic is to lower the program reserves with a positive actuary report. o Closing files and reducing new claims achieves this goal. Reducing benefit costs below anticipated. o Providing modified work to avoid TD, and reducing new claims achieves this goal.

25 Applying surplus from the other programs to satisfy an assessment. o As we are doing this year, but this depends on avoiding liability, fidelity and property claims. Push your Safety Committees to generate results. Hold your supervisors responsible for employee safety. Respectfully Submitted,

26 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY INFORMATION ITEM AGENDA ITEM NO. 7H Workers Compensation Program Assessment Information Only; no action required. At its last meeting the Board approved a Workers Compensation Program assessment equal to the available excess surplus, if any, in the Auto/General Liability Program, the Property/Boiler & Machinery Program, and the Fidelity Program. Attached is the draft/estimate of YCPARMIA s quarterly Statement of Revenues, Expenses and Retained Earnings. While the numbers are not final, we use this draft report to project anticipated surplus. We will have the final figures available after July 1 st, but it appears that the assessment will be: $429,000 General/Auto 40,000 Property/Boiler & Machinery 1,000 Fidelity $470,000 Total The assessment, along with its satisfaction by applying the appropriate surplus rebate, will be reflected on the Workers Compensation premium bills sent out after July 1 st. Respectfully Submitted,

27 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY INFORMATION ITEM AGENDA ITEM NO. 7I Strategic Planning: the Board s opportunity to discuss developing issues Information Only; no action required. This agenda item is an opportunity for members to discuss future risk management plans and provide feedback on YCPARMIA s offered services. At the last meeting we discussed the possibility of a day-long Board retreat; little interest was expressed by the Board. As an alternative, is there interest in expanding the fall Board meetings by 90 minutes each? At one meeting we would have our actuary, investment manager, and financial auditor make 30 minute presentations. At the following meeting we would have defense counsel present to make presentations on liability and workers compensation claims. At the third meeting we would have the excess providers in to discuss costs and coverages. Respectfully Submitted,

28 YOLO COUNTY PUBLIC AGENCY RISK MANAGEMENT INSURANCE AUTHORITY CLOSED SESSION 1. Murrillo vs. City of Woodland