Recap: FAJUA Board of Governors Teleconference

 

On November 13, 2007, the Board of Governors (“Board”) of the Florida Automobile Joint Underwriting Association (“FAJUA”) held a teleconference to discuss the Ad Hoc Vendor Review and Selection Committee (“Committee”) Report, prepared as a result of the Committee’s teleconference on October 22, 2007. 

At that meeting, the Committee discussed the pricing arrangement between York Claims Service, Inc. (“York”) and FAJUA.  For more details on the Committee’s teleconference and York, please click here.

By way of motion, the Committee recommended that the Board amend the contract with York to pay a minimum fee of $45,000 monthly, with a minimum annual cap of $540,000.  However, the Board amended the Committee’s motion, instead approving the following language:

Effective November 1, 2007 and up until October 31, 2008, the minimum monthly fee to support York’s infrastructure cost will be $45,000.  Further, the Board will review York’s performance through the course of the year before deciding whether to add a minimum annual cap.

There being no further business to discuss, the Board meeting adjourned.

 

 

 

 

Please be advised that the foregoing is a brief summary of the discussion during the meeting and is not intended to be a comprehensive review of the items contained herein.  Should you have any questions, please feel free to contact this office.