MINUTES--June
24, 2003
The
meeting was held to provide the timely award of the Errors and
Omissions Insurance Group Plan Contract, which could not
be delayed until the regularly scheduled meeting. The meeting
was conducted via telephone conference call because it was not
practical or economically feasible to hold a regular meeting
for the limited agenda.
Present
via telephone: Dorothy Woline, Vice Chair, James O'Neill, and
Laurie Dawley. Hughes joined the meeting at 10:05 a.m. Absent:
Patty Daniels.
Others
present via telephone: Pam Griebel Assistant Attorney General
and Cindy Rice Grissom, CEO, Rice Insurance Services Company, LLC.
Others
present: Roger Hansen, Executive Officer and Paul McLaughlin,
IAR.
Woline called the meeting to order 10:01a.m. A voice roll call
was taken; Woline, O'Neill, and Dawley were present.
For the benefit of new Commissioners, Grissom began by briefly
describing their experience as Administrator of the Iowa Errors
and Omissions Insurance Group Program and answered questions.
Hughes joined the meeting via telephone at 10:05 a.m. The meeting
continued with Hughes as Chair.
A general discussion, with questions and answers, continued regarding
the insurance program.
Hansen reported that the bid process resulted in only one bidder,
Rice Insurance Services Company, LLC. He presented the Committee's
recommendation to award the contract to Rice Insurance Services
Company, LLC and to select the $123.00 premium, zero deductible
policy, with $100,000 per claim and $100,000 aggregate limits.
The bid and the Committee's recommendations were discussed. The
coverage limits are the same as the present group policy and the
small increase in the proposed premium was viewed as reasonable.
O'Neill moved, second by Woline, to award the contract to Rice
Insurance Services Company and to select the policy and limits
recommended by the Committee. Roll call vote as follows: O'Neill,
aye; Woline, aye; Dawley, aye; and Hughes, aye. Motion carried
unanimously.
Dawley moved, second by Woline to adjourn the meeting. Roll call
vote as follows: O'Neill, aye; Woline, aye; Dawley, aye; and Hughes,
aye. Motion carried unanimously.
Meeting
adjourned at 10:14 a.m.
