Florida Workers’ Compensation Joint Underwriting Association Board of Governors Meeting Report: December 8
Dec 9, 2009
On December 8, 2009 the Florida Workers’ Compensation Joint Underwriting Association (“FWCJUA”) held its quarterly Board of Governors meeting. Among the actions taken by the Board were the following:
- Adopted the quarterly Board meeting schedule for 2010;
- Re-confirmed the current Board officer structure;
- Authorized modification of the Eighth Amended Bylaws filing to secure Florida Office of Insurance Regulation approval;
- Adopted the Executive Compensation Committee recommendation to keep the fixed annual compensation for Executive Staff in 2010 at the 2009 level;
- Confirmed the amended FWCJUA 401(k) plan effective January 1, 2010;
- Authorized a Staff expense of up to $16,800 to implement the on-line interactive application process;
- Adopted the amended 2010 FWCJUA Business Plan and Forecast, including the projected capital expenditures (which will be updated to coincide with 2010 contract terms);
- Adopted revisions to the Travel and Expense Reimbursement Procedures; and
- Re-confirmed continued holding of Lehman Brothers, Anheuser Busch, SunTrust, CitiGroup and Vulcan Materials bonds within the FWCJUA’s portfolio as authorized Investment Policy exceptions.
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