The Board of Directors met on June 2-3, in Sacramento, receiving updates on numerous items of interest. In particular, the Board has delegated approval of the General Liability I Program reinsurance renewal to the Underwriting and Executive Committees. Also delegated to these Committees, is a proposal to reinsure the $4M excess of $1M pooled layer on the Excess WC Program. Both Committees will meet toward the end of the month to review final proposals.
The Board approved the 2011/12 Budget of just over $606M. At the Thursday night dinner, Board members had the opportunity to express their best wishes for individuals that have announced their retirements in June including Kathy Peters, Tehama County, Jo Ann Gath, Humboldt County, and the EIA’s very own Bob Adams, CFO.