c. ND Insurance Reserve proxy - Laserfiche WebLink

ANNUAL MEETING OF MEMBERS NORTH DAKOTA INSURANCE RESERVE FUND MAY 10, 2001 10:30 AM RADISSON INN - BISMARCK, ND The mmual meeting of members of the North Dakota Insurance Reserve Fund was called to order by Board Chairperson Connie Sprynczynatyk at 10:30 a.m. on Thursday, May 10, 2001 at the Radisson Inn, Bismarck, ND. Chairperson Sprynczynatyk stated that, with the attendance of the members present and the written proxies received, a quorum had been established. The first order of business was review and approval of the 2000 NDIRF annual meeting minutes. A motion was made to approve the minutes as presented. (Robert Frantsvog/Arden Anderson, carried by voice vote.) Chairperson Sprynczynatyk welcomed everyone to the meeting. She then introduced NDIRF's Chief Executive Officer, Steve Spilde. CEO Spilde also welcomed everyone to the annual meeting and then reviewed the NDIRF's 2000 business affairs and current events. He stated that the Fund's membership continues to grow and, as of 12/31/00, was at 2,429. Slides were shown indicating NDIRF members' premium distribution, revenues and balance sheet for the past 15 years. As of 12/31/00, assets were at $33.4 million. Members' equity was at $18.1, million which resulted in a $3.1 million conferment of benefits that was paid to eligible members in April 2001. Mr. Spilde reported that the NDIRF's new office building has now been completed and that all is going well. $1.3 million was invested in the land and building and a primary reason for the purchase of the land and office building was to balance the ND1RF's investment portfolio with a real estate component. Mr. Spilde invited members to stop by to see the building and meet the NrD IRF staff. Mr. Spilde announced that a major emphasis has been put towards supporting and sponsoring employment law training sessions along with defensive driving courses that NDIRF staff have been instructing. ND Workers Compensation has now acknowledged and accepts defensive driving courses as part of a member's risk management program therefore allowing members' to receive a deduction on their workers compensation rates. NDIRF is taking a proactive role with the continuation of sponsoring and presenting sessions on employment law as it is felt this is an important and on-going issue. NDIRF's Risk Services Department is working on putting together training presentations to get out to members on a smaller group basis. An outside claims audit was completed in 2000 and very favorable comments were received by the NDIRF Claims Department for having a well-mn, well-documented claims system. There were three bills in particular that the NDIRF was watching during the 2001 legislative session. HB 1389 was a bill that would have changed the no-fault benefits coverage for school buses. NDIRF lobbied against this bill and it was ultimately defeated. SB 2309 was a bill where additional UM/UIM coverage was being sought for railroad employees but also affected some Fund members. The bill passed after language was changed to protect NDIRF and its members. The third bill was SB 2117 in which a change to the open records/open meetings law was made.