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2022-02-11 Meeting notes

Owned by Paul Barry, created
Feb 11, 2022
2 min read

 

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Date

Feb 11, 2022

ANTITRUST STATEMENT

As participants in this meeting, we need to be mindful of the constraints of antitrust laws. There shall be no discussions of agreements or concerted actions that may restrain competition. This prohibition includes the exchange of information concerning individual prices, rates, coverages, market practices, claims settlement practices, or any other competitive aspect of an individual company’s operation. Each participant is obligated to speak up immediately for the purpose of preventing any discussion falling outside these bounds.

Agenda

  • Antitrust / Minutes Approval

  • Expense Payment Process

  • Insurance Policy Review

  • Financials Update

Meeting Minutes

  • Antitrust was read and agreed. Minutes approved.

  • Paul Barry shared a proposed change to the process for paying CIECA expenses to provide better financial controls and simplify the role of the treasurer. The committee agreed with and supported the process change.

  • The CIECA Bylaws stipulate that CIECA carry insurance for the directors and officers. During the recent bylaw review the committee discussed the need for more systematic review of our insurance coverages to make sure we have adequate coverage and limits. Paul will reach out to board members who have knowledge and experience with insurance to review our current policy with our agent and determine if changes are in order.

  • Paul shared an update on revenues following a change in our billing system in the fourth quarter 2021. Revenues in December and January were below budget due to many of our largest members renewing their policies on Dec 31st or Jan 1. The good news is that February revenue as of Feb 11 is already at budget for the month ($46k) and an additional $49k is in process. This confirms that the process is working as intended.

Up Next

  • Antitrust Agreement and Meeting minutes acceptance

Action items

@Paul Barry to initiate a small group to review insurance coverage with our broker.

Decisions

  1. Implement proposed changes to credit card bill paying process to improve the financial controls and eliminate the need for the treasurer to do bill payments.

 

Participants

  • @Paul Barry @Mike Marlowe Jeff Dietrich @Ashley.Denison @Greg Best

 

 

 

Participants in the meetings are noted for your information.  If you have questions on the committee’s activities, please contact a recent attendee.