State of West Virginia - West Virginia Legislature

BRIM BOARD MEETING MINUTESOctober 5, 2010 PAGE 3Mr. Jones also noted that he has gone on record indicating that it isadvantageous for the State—no matter whatever kind of program is put forth—to have itmandate that all state agencies go to a central location for coverage, as opposed toallowing private carriers to pick and choose “good risk” agencies. This would allow allagencies to benefit from the collective procurement of workers’ compensationinsurance.During a brief discussion, it was ascertained that at this point, BRIM is looking atprimarily two approaches—whether to be self-insured or whether to bid for a carrier tocome in to handle the entire state. The bottom line is to determine the best approach tothis issue.During further presentation of his report regarding the Renewal of the CasualtyInsurance Program with Chartis, it was determined that the information as written wassomewhat confusing. Therefore, to clarify, here is a recap: The cost of services is$3,840,000 for FY 2011. The cost of services for FY 2010 was $4,228,723, for anannual savings of $388,723, or monthly savings of $32,393.58, in FY 2011 vs. FY 2010.These amounts include a reduction in Chartis administrative fees.Mr. Schumacher thereafter presented the Chief Financial Officer's Report. Theunaudited balance sheet as of June 30, 2010, the unaudited income statement for thetwelve months ending June 30, 2010, and the unaudited balance sheet and unauditedincome statement by line of business (Total State, Total SB3, Mine Subsidence andBRIM HB 601) for the same periods were received and filed, copies of which areattached and made a part of the record.A CD containing copies of the April, May and June 2010 purchasing cardinvoices was distributed to each Board member. The Chairman signed the