Public Meeting of the Board of Directors of the Arizona Property and Casualty Insurance Guaranty Fund

Pursuant to A.R.S. §38-431.01 and A.R.S. §20-663(C), notice is hereby given to the Board of Directors of the Arizona Property and Casualty Insurance Guaranty Fund (APCIGF) and to the Public that the Board of Directors of APCIGF will hold a meeting, which will be open to the Public, at 9:00 o’clock a.m., Tuesday, March 10, 2020, in Suite 204, Arizona Department of Insurance Conference Room, 100 N. 15^th Avenue, Phoenix, AZ 85007.

Some members of the Board may attend the Meeting telephonically.

The Agenda for the meeting is as follows:

1. Announcement that the meeting will be conducted in accordance with the Anti-Trust Compliance Policy adopted September 26, 2006 by the Board of Directors and in compliance with Arizona law (A.R.S. §§ 38-501 to 38-511) concerning the disclosure of conflicts of interest with regard to any matter before the Board for consideration.                                                                                                                             

2. Review, discussion and possible approval of the minutes of the Meeting of the Board of Directors held on March 12, 2019.

3. Executive Session, pursuant to A.R.S. § 38-431.03.A.2 and A.R.S. § 20-671, for the purpose of receiving information about and discussing the financial condition of one or more member insurers.

4. Report concerning detection and prevention of insolvency activity, and any discussion or action related thereto.

5. Election of officers and appointment of standing committees

6. Financial Reports and any action or discussion related thereto as follows:

• Review of the performance of the Fund’s investment portfolios through February 29, 2020;
• Report of the Investment Committee regarding suggested changes to APCIGF’s investment policies;
• Review of the financial condition of the Fund through January 31, 2020;
• Report concerning the results of the independent financial audit for the year ended December 31, 2018;
• Report concerning the status of the independent financial audit for the year ended December 31, 2019;
• Report concerning the General Accounting Office and Auditor General review of APCIGF’s financial statements.

7. Report regarding claims activity through February 29, 2020 and any discussion, consideration or decisions related thereto:

• Auto Account;
• Other Account;
• Workers’ Compensation Account;
• Independent actuarial evaluation of case reserves and IBNR for workers’ compensation claims;

8. Report from the Executive Director, discussion and possible action regarding the following:

• Payment of 2020 annual dues to the National Conference of Insurance Guaranty Funds;
• Renewal of software contract between APCIGF and Lightspeed Data Solutions;
• Issues between APCIGF and the Special Fund of the Industrial Commission of Arizona concerning the allocation of receivership recoveries.
• Anticipated change in the Fund’s basis of accounting from modified cash to accrual.

9. Executive session pursuant to A.R.S. § 38-431.03(A)(3) and (4) to consult with legal counsel as to any matter included in the meeting agenda.

10. Determination of the Date, Time and Place for the Annual meeting to be held during 2020.

11. Call to the Public.  This is the time for the public to comment.  Members of the Board may not discuss items that are not on the Agenda.  Therefore, action taken as a result of any public comment will be limited to directing staff to study the matter or scheduling the matter for further discussion and decision at a later date.

Persons with a disability may request a reasonable accommodation, such as a sign language interpreter, by contacting the Arizona Department of Insurance, Americans with Disabilities Act Coordinator (602) 364-3764.  Requests should be made as early as possible to arrange the accommodation.

ARIZONA PROPERTY AND CASUALTY INSURANCE GUARANTY FUND

Dated this 25th day of February, 2020.

/s/ Sara M. Begley

Sara M. Begley, Chair