PURMIT Board of Trustees Meeting
August 6, 2015
1:00 p.m. – 1:30 p.m.
Minutes
Trustees Present: Chair Patrick Hughes (OSU); Eric Yahnke (WOU); George Marlton (OIT); Vice Chair Brian Roy (PSU); Deb Donning (UO)
Trustees Absent: Lara Moore (EOU)
Others Present: James Parker (DWT); Ryan Britz (Berkley); Ashley Grealish (PURMIT)
Call to Order
Chair Patrick Hughes called the meeting to order at 1:00 p.m.
Roll Call
Roll call was taken of those present
Financial auditor discussion
Mr. Britz commented that he had made contact with five of the six references offered by each of the selected firms (McGladrey and K Financial). References came back as expected. References for each firm were positive and all recommended their firm for the job. The Board discussed the products offered, pricing, and engagement terms. Board determined that K Financial would be best fit for PURMIT.
Action:
A motion was made by Mr. Hughes to authorize Mr. Parker and Berkley to negotiate a personal services contract with K Financial and to have Mr. Hughes approve the contract. Once approved by Mr. Hughes, Berkley is authorized to execute the agreement. Motion was seconded by Mr. Roy. Motion carried with no objections.
Claims protocol and procedures discussion
Mr. Britz presented two options for consideration regarding the claim handling procedure. The first option was a collaborative approach between Berkley and the PURMIT members, working together from the first notice of loss through the entirety of the claim. Berkley would provide the data repository, oversight on behalf of the Trust and work with the member to appropriately adjudicate the claim. This approach is designed to align the interests of the member and PURMIT during the claim adjudication process. The second option was a claim administration approach where the member would hand the claim over to Berkley for full adjudication responsibilities and minimal involvement from the member. Mr. Roy expressed the desire to have the member involved in the claim handling process while having the oversight and guidance from Berkley through the adjudication process. Mr. Morris requested this information be presented to Risk Council to obtain their feedback and recommendation regarding preferred option. Mr. Roy agreed with Mr. Morris that Berkley should discuss with Risk Council and obtain their thought and direction. Mr. Roy also requested that Berkley put parameters around the adjudication process, Board notification and involvement, policies and procedures framework that will be put into place should the Board elect this option and the price for the additional service.
Action:
No action taken
Motion made by Mr. Hughes to adjourn. Motion seconded by Mr. Roy. Motion passed with no objection.