f. NDIRF annual mtg proxy vote - Laserfiche WebLink

ANNUAL MEETING OF MEMBERS NORTH DAKOTA INSURANCE RESERVE FUND MAY 8, 2013 10:30 AM RAMKOTA INN,BISMARCK,ND The annual meeting of members of the North Dakota Insurance Reserve Fund was called to order by Board Chairperson Randy Bina at 10:35 a.m. on Wednesday, May 8, 2013 at the Ramkota Inn, Bismarck, ND. Chairperson Bina stated that, with the attendance of members present and the written proxies received, a quorum had been established. The minutes from the 2012 NDIRF Annual Meeting were reviewed. A motion was made and seconded to approve the minutes. (Tom Larson/Augie Ternes,passed unanimously by voice vote.) Mr. Bina then welcomed everyone to the annual meeting. He reported that NDIRF has been very successful in its 27 year existence and currently has 2,557 members. Mr. Bina stated that NDIRF remains committed to providing great service and coverage along with assisting members in controlling their cost of risk. In keeping with that commitment, one of the Fund's top priorities in 2012 continued to be in the area of training where over 4,000 NDIRF member officials and employees participated in playground safety course training, defensive driving courses, and fire fighter emergency training, among others. The NDIRF continued to be part of a collaborative with the ND Association of Counties, ND League of Cities,ND School Boards Association and ND Recreation and Parks regarding web-based tools to assist NDIRF members with their human resource administration responsibilities made possible by a grant by the Bremer Foundation. The NDIRF also helped fund a new Handbook for City Officials and partnered with the North Dakota Firefighters Association to add a portable driving simulator to the emergency vehicle operations course regional training program. Chairperson Bina stated that the insurance market can fluctuate but,through its existence, the NDIRF has remained very sound and stable. A conferment of benefits of$2.1 million was declared for 2012 and distributed to members this past April. That makes a total of approximately $58 million being returned to members over the past 19 years in a combination of cumulative surplus notes and conferment of benefits. Mr. Bina then introduced the NDIRF board members and thanked them for their leadership and service to the Fund. He stated that a great organization starts with a great staff—he asked all NDIRF employees to stand and they were thanked for their service and dedication to the Fund. NDIRF's CEO Steve Spilde was then introduced. CEO Spilde welcomed everyone to the 2013 annual meeting. Steve provided a review of the 2012 annual report and stated that NDIRF's membership had reached 2,557 and was comprised as follows: "Cities" at 34%; "Counties"at 28%; "Schools"at 16%; and "Others" at 22%. Slides that revealed the past 27-year revenues and balance sheet were shown. As of 12/31/12, written premium was $11.1 million; losses were $5.9 million; the NDIRF's loss ratio for 2012 was 53.4% and is 47.5 % for all years. Net earnings last