Florida Self-Insurers Guaranty Association Meeting Report: June 5, 2012

The Florida Self-Insurers Guaranty Association (“FSIGA”) Board of Directors (“Board”) met today, June 5, 2012.  

After FSIGA Chairman Claude Revels called the meeting to order, the minutes of the March 30, 2012 Board meeting were approved.

FSIGA Executive Director Brian Gee provided an overview of the organization’s first quarter investment performance.  He noted that that the first quarter was an outstanding one for the stock market, but pointed out that the stock market’s performance so far in the second quarter has not been as stellar.

Next, Mr. Gee presented the FSIGA’s first quarter financial statement.

Board members then discussed the renewal of the contract between the Florida Department of Financial Services’ Division of Workers’ Compensation (“DWC”) and the FSIGA.  The contract, which involves the FSIGA’s provision of various services to the DWC, is mostly unchanged from last year’s contract.  The only difference is that the new contract requires the FSIGA to use the E-Verify program on new employees hired to perform work specific to the contract.  The contract was approved by the Board.

A DWC representative updated the Board on the transition of reemployment services from the Florida Department of Education to the DWC, as required by legislation passed during the 2012 Florida Regular Legislative Session.  The DWC is trying to make the transition as smooth as possible and everything should be in place by the July 1, 2012 deadline.

The next FSIGA Board meeting will be held on August 21, 2012, during the annual Workers’ Compensation Education Conference in Orlando.

With no further business, the meeting was adjourned.  Complete meeting materials are attached in PDF format.

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