Texas Automobile Insurance Plan Association...
Transcript of Texas Automobile Insurance Plan Association...
TAIPA TEXAS AUTOMOBILE INSURANCE PLAN ASSOCIATION
ADMINISTRATION CITYVIEW BLDG. 3 • 1120 S. CAPITAL OF TEXAS HWY., STE. 105 • AUSTIN, TX 78746-6464 P.O. BOX 162890 • AUSTIN, TX 78716-2890
TEL. 512/444-4441 • FAX 512/444-7368 http://www.taipa.org
Texas Automobile Insurance Plan Association Governing Committee Meeting
Friday, November 17, 2017 - 9:00 A.M. Omni Austin Hotel Southpark, 4140 Governor’s Row, Austin, TX 78744
Dress: Business Casual
1. Call to Order
2. Introductions
3. Reading of the Anti-Trust Statement
4. Review and Approval of the Minutes of the August 18, 2017 Meeting (Exhibit 1)
5. Manager’s Report
A. Application Count Update as of October 2017 (Exhibit 2) B. Financial Update as of September 2017 (Exhibit 3) C. Plan of Operation Filing: Refunds D. New Office Space Lease E. 2018 Requests for Proposal F. 2018 Meeting Dates (Exhibit 4)
6. Operations Subcommittee Report
A. Over/Under Report (Exhibit 5)
7. Report of Counsel A. TAIPA Rates
8. Personnel Matters
9. 2018 Budget
10. Adjournment
The Governing Committee may take action on any matter of business identified in this notice. Portions of the meeting will be conducted as a closed meeting, if permitted under Chapter 551, Government Code.
TAIPA Governing Committee Meeting August 18, 2017
TAIPA GOVERNING COMMITTEE MEETING MINUTES AUGUST 18, 2017 AT 9:00 AM
VIA TELECONFERENCE ATTENDEES: VOTING MEMBERS:
Mary Carol Awalt, Public Member Bill Brooks, Texas Farm Bureau Casualty (Chair) (Attended in-person) George Cooper, State Farm (Attended in-person) Pete Hamel, Producer Member (Attended in-person) Laura Hausman, Public Member Carmelita Hogan, Public Member Stephen Hylka, Liberty Mutual/Safeco Becky Jackson, Public Member (Attended in-person) Corise Morrison, USAA Tiffany Mulkey, Travelers Adam Payton, Producer Member Thomas Rolling, Farmers (Attended in-person) Jim Rowland, Allstate David Weber, Hochheim Prairie (Attended in-person)
COUNSEL:
Mike Jones, Thompson, Coe, Cousins & Irons (Attended in-person)
TAIPA STAFF: Stacy Dutton (Association Manager) (Attended in-person) Mimi Leece (Attended in-person) Nicole Morgan (Minute Taker) (Attended in-person)
OTHERS:
Doug Beck, Farmers Kimberly Donovan, TDI (Attended in-person) Todd Feltman, State Farm (Attended in-person) Alex Kozyrenko, Atchley & Assoc. (Attended in-person) John Lusardi, Assigned Risk Solutions, Ltd. Ramon Montalvo, Producer Member Alternate Tyler Mosley, Atchley & Assoc. (Attended in-person) David Nardecchia, OPIC (Attended in-person)
ITEM 1: CALL TO ORDER
Bill Brooks called the meeting to order at 9:04 AM.
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Exhibit 1, Page 1
TAIPA Governing Committee Meeting August 18, 2017 ITEM 2: INTRODUCTIONS
Introductions were made.
ITEM 3: RECOGNITION OF GEORGE COOPER’S SERVICE TO TAIPA George Cooper will be retiring from State Farm soon, and is leaving the TAIPA Governing Committee. He was recognized for his service to TAIPA. Todd Feltman was introduced as the new representative for State Farm.
ITEM 4: READING OF THE ANTI-TRUST STATEMENT Stacy Dutton read the Anti-Trust Statement:
“The creation and operation of the Texas Automobile Insurance Plan Association is set forth in Chapter 2151 of the Texas Insurance Code. The Association is a non-profit corporate body composed of all authorized insurers. The organization was created to provide a means by which insurance may be assigned to an authorized insurer for a person required by the Texas Motor Vehicle Safety-Responsibility Act to show proof of financial responsibility for the future. Members of the Association and of its Governing Committee, when involved in meetings or other activities of the Association, are bound to limit their discussions and actions to matters relating to the business of the Association, and shall not discuss or pursue the business interest of individual insurers or others.”
ITEM 5: AUDIT/FINANCE COMMITTEE REPORT
Tyler Mosley presented the 2016 audit reports.
A. REPORT ON 2016 AUDIT (EXHIBIT 1)
The auditors’ responsibility is to give an opinion on the financial statements and to obtain reasonable assurance the financials are free of material misstatement. They also consider internal controls for the purposes of risk assessment, and would report back if there were any deficiencies. For 2016, there were no significant deficiencies, disagreements with management, correcting entries, issues with internal controls, or any other significant findings. The audited 2016 financials were reviewed. The financials received an unmodified opinion from the auditors, which is the cleanest opinion that can be given. Although there was a positive change in net assets for 2016, TAIPA still has a net deficiency, but the bulk of that is related to the pension liability. The liability is primarily due to the investment market, which TAIPA obviously cannot control, so as the market improves, we would expect to see the liability continue to decrease as it has in recent years. The auditors were asked about their opinion of the organization that manages TAIPA’s pension. The auditors don’t delve too deeply into that, but the investment performance
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Exhibit 1, Page 2
TAIPA Governing Committee Meeting August 18, 2017
TAIPA has seen is not abnormal. Relatively all of the pensions the auditors have seen recently are in the same state as TAIPA’s. It was moved by George Cooper and seconded by David Weber to:
“Accept the 2016 audit report.” The motion carried unanimously. Alex Kozyrenko and Tyler Mosley left the meeting.
ITEM 6: REVIEW AND APPROVAL OF THE MINUTES OF THE MARCH 24, 2017 MEETING (EXHIBIT 2)
It was moved by David Weber and seconded by Thomas Rolling to: “Approve the minutes.” The motion carried unanimously.
ITEM 7: MANAGER’S REPORT
Stacy Dutton presented the Manager’s Report.
A. APPLICATION COUNT UPDATE AS OF JULY (EXHIBIT 3)
TAIPA received 290 applications in July 2017, compared to 246 in July 2016, which is an increase of about 18%. Year-to-date, TAIPA has received 2,179 applications in 2017, compared to 1,943 in 2016, which is an increase of about 12%. We expect to end 2017 with about 3,500-3,700 applications received. Comparatively, we assigned 3,089 in 2016. It was asked how much volume the current staff can absorb. We believe current staff could absorb double to triple the volume.
B. FINANCIAL UPDATE AS OF JUNE (EXHIBIT 4)
TAIPA would expect to be at 50% of the budget used at the end of June, and is under-budget at about 45%. The items that are currently over-budget were explained. We expect to end the year about 6% under-budget, mostly due to the fact that we budgeted salaries for 5.5 employees, and have reorganized to just 5 employees. It was asked if all of Intelligent Compensation’s work under the “Consultants—Other” category is complete. We believe all his work is complete, although there were some additional expenses in July that will show on future financials.
C. LINE OF CREDIT RENEWAL
TAIPA holds a $300,000 line of credit from Frost Bank, which we’ve never drawn on, but carry as a contingency. The annual renewal fees are expected to be about $300, but there are no other fees unless we draw against it.
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Exhibit 1, Page 3
TAIPA Governing Committee Meeting August 18, 2017
It was asked if this is an annual renewal. It is. It was moved by Thomas Rolling and seconded by George Cooper to:
“Authorize Nicole Morgan and Stacy Dutton to renew the line of credit and be signers on the account.”
The motion carried unanimously.
D. NEW OFFICE SPACE LEASE TAIPA’s current lease expires in March 2018. At the last Governing Committee meeting, the board authorized TAIPA to explore and execute a new lease, in consultation with the Officers and Counsel. Our goals for the new lease were to reduce total rent costs by at least 25%, and to reduce square footage by half. We toured several properties, and were able to find a suite that met both of our goals. It is in a very comparable building just one stoplight north of our current location. Comparing the entire life of our current lease to the entire life of the proposed terms of the new lease, we’ll save 45%. We negotiated the terms of the new lease with the help of our broker, Steve Gillespie from Texas Office Advisors. We were able to negotiate a lower monthly base rent, two months of free base rent, no charges for excess rent in the event of relocation/substitution, and for the landlord to pay holdover rent on our current space if the new space isn’t ready by our move-in date. Unfortunately, we were unable to secure the $0 security deposit we were hoping for, as that is apparently a thing of the past. We are in the final part of the lease-signing stage right now. Mike Jones and his firm have reviewed the proposed lease and provided feedback to the landlord. There are still a few items we’re negotiating with the landlord, but we hope to sign the final lease in the next couple of weeks. The lease will commence on March 1, 2018, so TAIPA would move in sometime in March. When we budget for 2018, we’ll need to include budget for moving expenses, phone/internet cabling, and possibly additional insurance, if required. It was asked what additional insurance we might need to purchase. The new lease originally required earthquake and flood insurance, although it sounds like we might be able to negotiate to remove those requirements.
E. PLAN OF OPERATION FILING: REFUNDS FOR CANCELLATIONS (EXHIBIT 5) In 2013, TAIPA filed a Plan of Operation amendment to comply with Senate Bill 698, which changed the requirements for return premium. When we made the filing, we only included a change for cancellations, as the bill did not specify it applied to endorsements, and our Plan of Operation has separate standards for return premium due to cancellations and endorsements. We were told TDI would be issuing a rule to address some questions about this bill, and we wanted to wait to see how the rule would affect our filing, so our filing has been
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Exhibit 1, Page 4
TAIPA Governing Committee Meeting August 18, 2017
pending at TDI ever since. TDI adopted their final rule in May. The rule applies to both endorsements and cancellations, so we withdrew our original filing, and need to make a new filing. Instead of listing out the specific requirements in our Plan of Operation amendment, we recommend simply stating the insurer must comply with the statute. The proposed language is shown in Exhibit 5. It was asked if an insurer needs to send a refund check if an endorsement change results in a premium decrease. The answer is yes, although there is also a provision for applying it as a credit to a future billing on the same policy. It was suggested that the proposed language refer insurers to TDI’s rule, in addition to referring them to statute. The rule is promulgated by TDI under the statute. Rules change more frequently than the statute, so the more we pin it down, the more we’d have to worry about changing it in the future if the rules change. Further, if the rules were to change, it would be the company’s responsibility to ensure they comply with any new rules, not TAIPA’s responsibility. It was agreed to change the language to, “The insurer must refund return premium in accordance with Chapter 558, Texas Insurance Code, and the rules promulgated under that chapter.” It was also agreed that when TAIPA sends out a bulletin to notify insurers of the approved Plan of Operation amendment, they should direct insurers to the rule issued by TDI. It was moved by Thomas Rolling and seconded by David Weber to:
“Authorize TAIPA staff to file the proposed Plan of Operation amendment with TDI.” The motion carried unanimously.
F. SURCHARGES ON TAIPA POLICIES (EXHIBIT 6) TAIPA has received some questions from insurers regarding how to apply surcharges to TAIPA policies in a couple of situations that don’t come up often, and therefore aren’t addressed in our rules. We request that the Governing Committee refer these questions to the Operations Subcommittee so that we can discuss how insurers are currently handling these situations (especially those insurers that are countrywide), and so that we can consider adding language to the TAIPA Rules & Rating Manual as clarification. There was a consensus to refer these questions to the Operations Subcommittee for further study. It was asked if the Operations Subcommittee has a meeting scheduled yet. They do not, but will be scheduling one.
G. QUOTA PROCEDURES RELATED TO INSURERS DISCONTINUING WRITING (EXHIBIT 7)
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Exhibit 1, Page 5
TAIPA Governing Committee Meeting August 18, 2017
TAIPA received a request from a member to review the Plan of Operation as related to the quotas of companies that discontinue writing. We request that the Governing Committee refer this question to the Operations Subcommittee to discuss and make recommendations as to whether TAIPA should make changes to our procedure to more closely match the procedures used around the rest of the country. There was a consensus to refer this item to the Operations Subcommittee for further study.
ITEM 8: OPERATIONS SUBCOMMITTEE REPORT David Weber presented the Operations Subcommittee Report.
A. OVER/UNDER REPORT (EXHIBIT 8) There was nothing noteworthy on the report.
ITEM 9: REPORT OF COUNSEL
Mike Jones presented the Report of Counsel.
A. LEGISLATIVE UPDATE Thompson, Coe, Cousins & Irons has reviewed the legislation passed during the 2017 session, as well as reports by various trade associations, and has determined there were no changes to TAIPA’s statute, nor were there any bills that directly affect TAIPA’s Plan of Operation or forms. There was one bill, Senate Bill 1490, which will allow insurers to set their own surcharges for DUI’s and accidents, whereas those surcharges are currently promulgated by TDI. TAIPA’s Rules and Rating Manual does have provisions for surcharges, which we could now change if we wanted to, although they would still be subject to TDI’s approval. There doesn’t seem to be a need to change the surcharges at this time, but the option is now available if there was a future need.
B. TAIPA RATES
In 2015, TDI approved a new methodology for TAIPA’s rating filings, in which TAIPA rates are indexed to voluntary market loss costs. Mike Miller has prepared Private Passenger and Commercial rate indications using this methodology. The filing would result in an overall Private Passenger increase of 4.8% and an overall Commercial increase of 1.7%. In both 2015 and 2016, we modified the class and territory rating factors, and since they hadn’t been changed in over a decade, we decided to cap the factor changes each year and roll them out over several years. This year’s filing did include some factor changes for Private Passenger, although it didn’t include any for Commercial. This year should hopefully be the last year these factor changes are included in the Private Passenger indications.
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Exhibit 1, Page 6
TAIPA Governing Committee Meeting August 18, 2017
The proposed effective date is February 1, 2018. Our target filing date is September 8, 2017, which is one day past last year’s filing date, because statute says we cannot file more than once in any 12-month period. TDI has 30 days to act on our filing, and can extend that timeline by an additional 30 days, which we expect they’ll do. Because our changes by coverage do not exceed 5%, a hearing is not required. Once the filing is made, TAIPA also plans to provide OPIC with a courtesy copy. It was moved by Thomas Rolling and seconded by David Weber to:
“Authorize Counsel and Mike Miller to make the rate filing as indicated on September 8th, with copy to the appropriate parties, and also to direct Counsel and Mike Miller to make any necessary changes that may be required in response to TDI.”
The motion carried with ten in favor, three opposed (Awalt, Hausman, Hogan), and one abstention (Jackson).
ITEM 10: 2018 MEETING DATES (EXHIBIT 9)
The 2018 meetings are show in Exhibit 9. It was asked if the March 2018 meeting coincides with Spring Break or SXSW, as flights and hotels are more expensive during those events. The meeting is not during SXSW, but TAIPA staff will check if it’s during Spring Break, and if so, will reschedule.
ITEM 11: NEXT MEETING—NOVEMBER 17, 2017 AT OMNI AUSTIN SOUTHPARK
The next Governing Committee meeting is November 17, 2017 at the Omni Austin Southpark Hotel. TAIPA staff has received some comments regarding the full teleconference meetings in August possibly not being as desirable as initially thought. As such, TAIPA staff will be sending out an anonymous survey to everyone, and we’ll make adjustments as needed based on the survey results.
ITEM 12: MANAGER TRANSITION SUBCOMMITTEE REPORT
Thomas Rolling presented the Manager Transition Subcommittee Report.
At the last Governing Committee meeting, the Manager Transition Subcommittee was assigned two tasks:
1. To review the Policies & Procedures Manual in conjunction with the new positions Stacy Dutton and Nicole Morgan were appointed to, and to review the open door policy, and to come back with any recommendations by the next Governing Committee meeting.
2. To work with the Association Manager and Intelligent Compensation, relative to the remaining jobs and operations within TAIPA, and to come back with any recommendations by the next Governing Committee meeting.
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Exhibit 1, Page 7
Exhibit 1, Page 8
Exhibit 3, Page 1
Private Passenger Commercial
EASi Applications 249 16
Paper Applications 1 0
Total Applications Received 250 16
Applications Assigned 246 16
Apps Returned for Correction 4 0
Applications Deficient 13 3
Applications with SR-22s 11 0
282
266
Private Passenger Commercial
EASi Applications 2754 304
Paper Applications 1 2
Total Applications Received 2755 306
Applications Assigned 2697 296
Apps Returned for Correction 56 10
Applications Deficient 243 42
Applications with SR-22s 117 0
2,818
3,061
8.62%
1994: 716,036 2002: 66,153 2010: 8,725
1995: 461,059 2003: 74,506 2011: 7,364
1996: 214,744 2004: 47,434 2012: 5,898
1997: 95,461 2005: 31,517 2013: 4,708
1998: 55,041 2006: 23,634 2014: 3,628
1999: 47,108 2007: 16,780 2015: 3,217
2000: 44,945 2008: 12,896 2016: 3,089
2001: 53,477 2009: 10,299
*Application Assignment History based on applications assigned, not received.
YTD Percent Change from Oct. 2016 to Oct. 2017:
Monthly Total (Oct. 2017)
Total Applications Received in Oct. 2016:
Total Applications Received in Oct. 2017:
Year to Date Total (as of Oct. 2017)
Total Applications Received YTD (as of Oct. 2016):
Total Applications Received YTD (as of Oct. 2017):
Application Assignment History*
Exhibit 2, Page 1
20
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mee
tings
to d
ate
(tw
o a
re i
n-p
erso
n;
one
is v
ia t
elec
onfe
rence
);
som
e m
emb
ers
wer
e unab
le t
o a
tten
d t
he
seco
nd m
eeti
ng;
wil
l en
d u
nder
budget
.
Su
bco
mm
itte
e M
eeti
ng
s2
,50
02
,47
5-2
53
,30
07
5.7
6%
Wit
hin
ran
ge.
Pro
du
cer
Rev
iew
Pan
el0
00
00
.00
%N
o P
rod
uce
r R
evie
w P
anel
mee
tings
sched
ule
d t
his
yea
r.
Em
plo
yee
Mee
tin
gs,
Sem
inar
s &
Sta
ff T
ravel
2,6
17
6,9
75
4,3
58
9,3
00
28
.14
%N
ot
all
the
clas
ses
budget
ed f
or
wil
l en
d u
p b
eing t
aken
.
Leg
al E
xp
ense
s3
1,0
81
37
,20
06
,11
94
9,6
00
62
.66
%
Wo
rk o
n r
ate
fili
ng b
egan
in J
une
and i
s not
yet
com
ple
te;
ther
e w
as n
ot
as m
uch
work
rela
ted
to
th
e le
gis
lati
ve
sess
ion a
s ex
pec
ted;
hav
e not
had
any
maj
or
issu
es/q
ues
tions.
Au
dit
Ex
pen
se2
0,4
58
17
,32
5-3
,13
32
3,1
00
88
.56
%H
ave
alre
ady
incu
rred
all
annual
audit
expen
se.
20
17
Y
ea
r T
o D
ate
Tex
as
Au
to I
ns.
Pla
n A
sso
c.
Fo
r th
e p
erio
d e
nd
ed S
epte
mb
er 3
0,
20
17
AC
TU
AL
VS
. B
UD
GE
T
Exhibit 3, Page 1
20
17
An
nu
al
Actu
al
Bu
dg
et
Va
ria
nce
Bu
dg
et
% U
sed
Reaso
n f
or V
aria
nce
20
17
Y
ea
r T
o D
ate
Du
es,
Su
bsc
rip
tio
ns
& P
ub
lica
tio
ns
99
21
,20
02
08
1,6
00
61
.99
%S
ub
scri
pti
on
ren
ewal
s did
not
cost
as
much
as
expec
ted;
wil
l en
d u
nder
-budget
.
TA
IPA
Tra
dit
ion
, V
isit
or
Mea
ls &
Gif
ts1
,47
92
,02
55
46
2,7
00
54
.77
%E
ven
ts a
re l
ater
in t
he
year
; ex
pec
t to
end o
n b
udget
.
Sys
tem
Co
nsu
ltan
ts3
0,6
35
32
,55
01
,91
54
3,4
00
70
.59
%W
ith
in r
ang
e.
Co
nsu
ltan
ts -
Oth
er2
6,3
35
14
,92
5-1
1,4
10
19
,90
01
32
.33
%
Org
aniz
atio
nal
rev
iew
took p
lace
in t
he
firs
t quar
ter
of
the
year
. E
xpen
ses
wer
e budget
ed
bas
ed o
n l
ast
revie
w i
n 2
013,
but
actu
al e
xpen
ses
wer
e m
ore
than
budget
ed.
Als
o
per
form
ed w
ork
on e
mplo
yee
com
pla
int
pro
cedure
, w
hic
h w
asn't
expec
ted.
Act
uar
y0
7,0
50
7,0
50
9,4
00
0.0
0%
No
act
uar
y w
ork
to d
ate.
Oth
er0
00
00
.00
%N
o o
ther
ex
pen
ses
to d
ate.
S
UB
TO
TA
L6
72
,78
07
46
,92
57
4,1
44
99
5,9
00
67
.56
%
Dep
reci
atio
n7
,68
77
,72
53
81
0,3
00
74
.63
%W
ith
in r
ang
e.
Am
ort
izat
ion
3,7
50
3,7
50
05
,00
07
5.0
0%
Wit
hin
ran
ge.
Gai
n (
Lo
ss)
on
Dis
po
siti
on
of
Fix
ed A
sset
s0
00
00
.00
%H
ave
no
t so
ld a
ny
asse
ts t
o d
ate.
S
UB
TO
TA
L1
1,4
37
11
,47
53
81
5,3
00
74
.75
%
TO
TA
L O
PE
RA
TIN
G E
XP
EN
SE
68
4,2
18
75
8,4
00
74
,18
21
,01
1,2
00
67
.66
%W
e'd
exp
ect
to b
e a
t 75%
of
bu
dget
at
the e
nd
of
this
perio
d.
NE
T F
RO
M O
PE
RA
TIO
NS
67
,39
6-1
1,4
75
78
,87
1-1
5,3
00
No
n-O
per
atin
g P
ensi
on
Co
sts
00
00
0.0
0%
Pen
sio
n a
dju
stm
ent
wil
l not
be
mad
e unti
l ye
aren
d.
NE
T6
7,3
96
-11
,47
57
8,8
71
-15
,30
0
CA
PIT
AL
BU
DG
ET
So
ftw
are
Dev
elo
pm
ent
in P
rog
ress
00
00
0.0
0%
No
so
ftw
are
dev
elopm
ent
expen
dit
ure
s th
is y
ear.
Off
ice
Fu
rnit
ure
& E
qu
ipm
ent
00
00
0.0
0%
No
fu
rnit
ure
& f
ixtu
re e
xpen
dit
ure
s th
is y
ear.
Co
mp
ute
r E
qu
ipm
ent
00
00
0.0
0%
No
co
mp
ute
r eq
uip
men
t ex
pen
dit
ure
s th
is y
ear.
Co
mp
ute
r S
oft
war
e0
00
00
.00
%N
o c
om
pu
ter
soft
war
e ex
pen
dit
ure
s th
is y
ear.
Lea
seh
old
Im
pro
vem
ents
00
00
0.0
0%
No
lea
seh
old
im
pro
vem
ent
expen
dit
ure
s th
is y
ear.
TO
TA
L0
00
00
.00
%
NO
TE
: It
ems
tha
t a
re c
on
sid
ered
"w
ith
in r
an
ge"
are
wit
hin
5%
or
$5
,00
0 o
f th
e ex
pec
ted
yea
r-to
-da
te b
ud
get
.
Exhibit 3, Page 2
ASSETS
Current Assets
Cash and cash equivalents 409,236$
Accounts receivable 7,980
Prepaid expenses 26,431
Total current assets 443,648
Security Deposits 5,379
Property and Equipment
Furniture and equipment "38,921
Computer equipment 23,762
Leasehold improvements 50,007
Computer software 34,858
147,549
Less accumulated depreciation 122,347
25,203
Total assets 474,230
LIABILITIES AND NET ASSETS
Current Liabilities
Accounts payable 10,858
Accrued vacation 39,113
Accrued payroll liabilities 15,389
Deferred revenue 249,414
Total current liabilities 314,775
Other Liabilities
Accrued pension benefit costs 314,442
Deferred lease benefit 17,564
Total other liabilities 332,006
Net (Deficiency) Assets
Unrestricted (172,550)
Total net assets (172,550)
Total liabilities and net assets 474,230$
Statement of Financial Position
As Of September 30, 2017
Unaudited
Texas Auto Ins. Plan Assoc.
Exhibit 3, Page 3
Changes in unrestricted net assets
Current
Revenues YTD
Member assessments 747,686$
Interest income 471
Assessment penalties 3,458
Total revenues 751,614
Expenses
Salaries and related expenses 407,202
Occupancy expenses 106,195
Professional Services 108,509
Depreciation & amortization 11,437
Postage and delivery 16,497
Office supplies and expense 10,650
Governing committee 11,014
Computer supplies & expenses 3,737
Subcommittee meetings 2,500
Staff education & seminars 2,617
Miscellaneous 1,390
Staff expense 1,479
Dues and subscriptions 992
Total operating expenses 684,218
Other revenues (expenses)
Total other revenue (expenses) -
Increase (decrease) in unrestricted net assets 67,396
Net assets (deficiency) at beginning of year (239,947)
Net assets (deficiency) as of September 30, 2017 (172,550)$
Texas Auto Ins. Plan Assoc.Statement of Activities
For the period ended September 30, 2017
Unaudited
Exhibit 3, Page 4
TAIPA
Exhibit 9TEXAS
AUTOMOBILE INSURANCE PLAN ASSOCIATION
ADMINISTRATION CITYVIEW BLDG. 3 • 1120 S. CAPITAL OF TEXAS HWY., STE. 105 • AUSTIN, TX 78746-6464 P.O. BOX 162890 • AUSTIN, TX 78716-2890
TEL. 512/444-4441 • FAX 512/444-7368 http://www.taipa.org
2018 SCHEDULED GOVERNING COMMITTEE MEETING DATES
Friday, March 23, 2018 Omni Austin Southpark
Friday, August 17, 2018 Omni Austin Southpark
Friday, November 16, 2018 Omni Austin Southpark
Exhibit 45
TEXAS AUTOMOBILE INSURANCE PLAN ASSOCIATION
A teleconference line will be available for those who are unable to attend in-person.
TAIPA PP
Over/Und
er Rep
ort
10/05/2017
COMP
ANY
PRIV
ATE
PASS
ENGE
R
21ST
CEN
TURY
CEN
TENN
IAL
INS
CO (S
C)
248,5
6827
3,200
279,6
7228
0,342
254,5
3330
1,929
ACE
AMER
ICA
247,6
1624
6,672
245,8
0024
4,859
244,5
2424
4,143
AFFI
RMAT
IVE
INS
CO
2,446
2,733
2,832
RCVR/CO Restricted
ALFA
SPE
CIAL
TY IN
S CO
RP68
962
942
888
140
198
ALLS
TATE
INS
CO
89,14
485
,156
93,35
690
,642
77,57
7En
tere
d LA
D
AMER
MER
CURY
INS
CO
602
616
3,313
1,954
1,884
3,129
ASSU
RANC
EAME
RICA
INS
CO46
845
5658
Ente
red
LAD
COLO
NIAL
LLO
YDS
1,277
1,277
1,277
Ente
red
LAD
CRES
TBRO
OK IN
S CO
New
to
quot
a8
155
Beca
me
grou
ped
ESUR
ANCE
PRO
P &
CAS
INS
CONe
w to
qu
ota
1521
8Be
cam
e gr
oupe
d
FALC
ON IN
S CO
New
to
quot
a4
4En
tere
d LA
D
FREE
STON
E IN
S CO
1
171
443
443
443
443
RCVR/CO Restricted
GENE
RAL
CAS
CO O
F W
ISCO
NSIN
New
to
quot
a72
7376
Ente
red
LAD
GOVE
RNME
NT E
MPLO
YEES
INS
CO
85,87
775
,542
93,72
812
8,245
129,3
1316
3,474
HALL
MARK
COU
NTY
MUT
INS
CO44
3,961
443,4
8544
3,407
443,1
2744
2,883
442,5
80
2nd
QTR
2017
Year
End
2016
1st Q
TR 20
17Ye
arEn
d 20
15Ye
arEn
d 20
14Ye
arEn
d 20
13
UNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
R
Page 1
Exhibit 5, Page 1
TAIPA PP
Over/Und
er Rep
ort
10/05/2017
COMP
ANY
PRIV
ATE
PASS
ENGE
R
2nd
QTR
2017
Year
End
2016
1st Q
TR 20
17Ye
arEn
d 20
15Ye
arEn
d 20
14Ye
arEn
d 20
13
UNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
R
HOME
OWNE
RS O
F AM
ER IN
S CO
4,4
564,6
374,6
394,6
394,6
394,6
39
WD/CO Restricted
HOUS
TON
GENE
RAL
INS
EXCH
3,0
063,0
06W
ent i
nto
Stor
age
Storage‐‐ YE 2015
ICM
INS
CO0
1313
1313
13
Rcvr/CO Restricted
IMPE
RIAL
FIR
E &
CAS
1,461
1,417
1,395
1,381
Beca
me
grou
ped
INTE
GON
NATI
ONAL
INS
CO27
9,949
288,3
9626
8,586
KNIG
HTBR
OOK
INS
CO12
Ente
red
LAD
LINC
OLN
GENE
RAL
51,33
751
,337
Wen
t int
o St
orag
e
Storage‐‐ YE 2015
MAID
STON
E IN
SURA
NCE
COMP
ANY
(pre
v AU
TOON
E IN
S CO
) 32
8,062
330,0
6233
0,051
330,0
4433
0,043
330,0
42
MILE
METE
R IN
S CO
2,2
112,2
112,2
11Ce
rt of
Aut
horit
y Can
celle
d
CO / Inactive
NATI
ONAL
LIA
BILI
TY &
FIR
E (S
C)24
2,995
260,6
6129
4,194
Ente
red
LAD
NATI
ONW
IDE
MUT
INS
CO
23,68
8En
tere
d LA
D
OLD
AMER
COU
NTY
MUT
FIRE
INS
New
to
QTA
0En
tere
d LA
D
ONEB
EACO
N IN
S CO
3,705
Beca
me
grou
ped
PACI
FIC
SPEC
IALT
Y IN
S CO
74
Ente
red
LAD
PALO
MAR
SPEC
IALT
Y IN
S CO
New
to
quot
a16
AIPS
O Er
ror
Beca
me
grou
ped
Page 2
Exhibit 5, Page 2
TAIPA PP
Over/Und
er Rep
ort
10/05/2017
COMP
ANY
PRIV
ATE
PASS
ENGE
R
2nd
QTR
2017
Year
End
2016
1st Q
TR 20
17Ye
arEn
d 20
15Ye
arEn
d 20
14Ye
arEn
d 20
13
UNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
R
PHAR
MACI
STS
MUT
INS
CONe
w to
qu
ota
325
Ente
red
LAD
QBE
INS
CORP
62Be
cam
e gr
oupe
d
SOMP
O JA
PAN
INS
CO (p
rev Y
asud
a F&M
) 1,9
761,9
76W
ent i
nto
Stor
age
Storage‐‐ YE 2015
SOUT
HLAN
D LL
OYDS
INS
CO
293
293
Wen
t int
o St
orag
eStorage‐‐ YE 2015
STAR
R IN
DEMN
ITY
& LI
ABIL
ITY
CO93
995
595
595
595
595
5
WD/CO Restricted
STAT
E FA
RM M
UT A
UTO
INS
CO
196,2
1620
3,426
190,2
9317
5,003
189,1
0319
1,530
SUSS
EX IN
S CO
(prio
r Com
pani
on P
ro &
Cas
Ins
Co)
240
318
324
324
324
324
WD/CO Restricted
TEXA
S FA
RM B
UREA
U CA
S IN
S CO
68
,410
59,92
255
,332
53,79
667
,104
78,39
0
TOKI
O MA
RINE
& N
ICHI
DO F
IRE
INS
55
Wen
t int
o St
orag
e
Storage‐‐ YE 2015
UNIV
ERSA
L NO
RTH
AMER
ICA
New
to
quot
a89
8989
8989
WD/CO Restricted
WIN
DHAV
EN N
ATIO
NAL
INS.
CO
(103
48 A
TX
PREM
IER
INS
CO)
New
to
quot
a24
165
204
234
YOUN
G AM
ERIC
A IN
S CO
5En
tere
d LA
D
TOTA
LS1,0
23,67
81,0
23,67
81,0
23,61
21,0
23,61
21,0
20,65
31,0
20,65
31,0
19,41
11,0
19,41
11,0
17,45
01,0
17,45
01,0
16,76
51,0
16,76
5
PREM
IUMS
WRI
TTEN
572,2
57 2n
d qt
r1,9
16,60
055
7,399
1st q
tr2,1
56,74
21,8
64,57
52,6
90,09
8
Page 3
Exhibit 5, Page 3
TAIPA OTP
P Over/Und
er Rep
ort
10/05
/201
7
COMP
ANY
OTHE
R TH
AN P
RIVA
TE P
ASSE
NGER
ACCI
DENT
INS
CONe
w to
qu
ota
6585
101
ALAS
KA N
ATL
76
8010
212
3En
tere
d CL
AD
AMAL
GAMA
TED
CAS
INS
CONe
w to
qu
ota
156
286
AMER
BAN
KERS
INS
CO O
F FL
ORID
A
328
AMER
CON
TRAC
TORS
INS
RISK
RET
. GRP
13,11
116
,743
16,74
316
,743
16,74
316
,743
Ret. Grp./Restricted
AMER
MER
CURY
INS
CO
12,37
115
,785
3,488
4,296
4,823
8,074
AMER
MOD
ERN
HOME
INS
CO
428
Ente
red
CLAD
AMER
MOD
ERN
LLOY
D'S
23
,166
Beca
me
grou
ped
AMER
NAT
IONA
L PR
OP &
CAS
CO
128
614
1,118
1,522
Ente
red
CLAD
AMER
NAT
L CO
UNTY
MUT
INS
CO12
107
Beca
me
grou
ped
AMER
ROA
D IN
S CO
7013
519
724
8En
tere
d CL
AD
AMER
ICAN
SAF
ETY
CAS
INS
CO
3,165
Ente
red
CLAD
AMER
SER
VICE
INS
CO IN
C.26
2626
Beca
me
grou
ped
AMER
ICAN
BUI
LDER
S IN
S CO
(pre
v Ass
ociat
ion
Ins
Co)
9118
325
932
0En
tere
d CL
AD
BRIT
ISH
AMER
ICAN
INS
CO
15,56
515
,934
16,24
62,9
932,8
743,8
87
CLAR
ENDO
N NA
TION
AL IN
S CO
51
,569
51,56
9W
ent i
nto
Stor
age
Storage‐‐ YE 2015
COLU
MBIA
INS
CO
1,233
1,222
1,222
Beca
me
grou
ped
2nd
QTR
2017
Year
End
2016
Year
End
2015
Year
End
2014
Year
End
2013
Beca
me u
ngro
uped
(co
w/ q
uota
mov
ed to
Di
amon
d St
ate)
1st Q
TR 20
17
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
ROVE
ROVE
ROVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
Page 1
Exhibit 5, Page 4
TAIPA OTP
P Over/Und
er Rep
ort
10/05
/201
7
COMP
ANY
OTHE
R TH
AN P
RIVA
TE P
ASSE
NGER
2nd
QTR
2017
Year
End
2016
Year
End
2015
Year
End
2014
Year
End
2013
1st Q
TR 20
17
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
ROVE
ROVE
ROVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
COLU
MBIA
MUT
INS
CO
04,6
277,2
27En
tere
d CL
AD
CORE
POIN
TE IN
S CO
(pre
v Chr
ysler
&
Daim
lerch
rysle
r) 39
,102
39,98
240
,259
Ente
red
CLAD
DONE
GAL
MUT
INS
CONe
w to
qu
ota
680
GENE
RAL
STAR
NAT
IONA
L IN
S CO
5959
5959
5959
Storage‐‐ YE 2017
GLOB
AL L
IBER
TY IN
S CO
OF
NYNe
w to
qu
ota
3446
2En
tere
d CL
AD
GOVE
RNME
NT E
MPLO
YEES
INS
CO
21,36
624
,021
25,70
726
,691
24,96
923
,534
GRAM
ERCY
INS
CO
9,371
9,371
9,371
9,371
9,371
9,371
RCVR / CO Restricted;Storage 2017
GREA
T MI
DWES
T IN
S CO
2,507
Beca
me
grou
ped
HARL
EYSV
ILLE
INS
CO16
0Be
cam
e gr
oupe
d
HISC
OX IN
S CO
INC
New
to
quot
a2
232
800
Ente
red
CLAD
HOUS
ING
ENTE
RPRI
SE IN
S CO
INC
1323
3338
Ente
red
CLAD
INTE
GON
NATI
ONAL
INS
CO1,6
73,49
21,6
87,95
21,6
89,03
5
LINC
OLN
GENE
RAL
73
,631
73,63
1W
ent i
nto
Stor
age
Storage‐‐ YE 2015
MAID
STON
E IN
SURA
NCE
COMP
ANY
(pre
v AU
TOON
E IN
S CO
& P
enn
Gene
ral)
415,7
4541
4,922
414,9
0041
4,900
414,9
0041
4,900
MIDC
ONTI
NENT
CAS
CO
758,8
0575
4,383
750,3
0074
7,924
747,6
1874
7,345
MOTO
RIST
S CO
MM M
UT IN
S CO
(pre
v Am
er
Hard
ware
Mut
Ins C
o)28
,801
28,22
327
,828
27,56
127
,482
27,41
4
NATI
ONAL
BUI
LDER
S IN
S CO
9116
020
223
6Be
cam
e gr
oupe
d
Page 2
Exhibit 5, Page 5
TAIPA OTP
P Over/Und
er Rep
ort
10/05/20
17
COMP
ANY
OTHE
R TH
AN P
RIVA
TE P
ASSE
NGER
2nd
QTR
2017
Year
End
2016
Year
End
2015
Year
End
2014
Year
End
2013
1st Q
TR 20
17
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
ROVE
ROVE
ROVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
NATI
ONAL
LIA
BILI
TY &
FIR
E IN
S CO
(SC)
1,513
,719
1,535
,081
1,600
,794
Ente
red
CLAD
NAVI
GATO
RS IN
S CO
189
813
1,579
Ente
red
CLAD
NORT
H AM
ER S
PECI
ALTY
INS
CO24
3240
70En
tere
d CL
AD
OKLA
HOMA
SUR
ETY
CO
684,5
7568
4,364
684,1
7568
3,103
682,5
2468
2,034
PENN
MAN
UFAC
TURE
RS A
SSN
INS
CO
606
Ente
red
CLAD
Ente
red
New
CLAD
PREF
ERRE
D PR
OFES
SION
AL IN
S CO
920
1,119
1,309
1,516
Ente
red
CLAD
QUAL
ITAS
INS
CO25
0En
tere
d CL
AD
REP
WES
T IN
S CO
(REP
UBLI
C W
ESTE
RN IN
S CO
) 32
4148
Ente
red
CLAD
RIVE
RPOR
T IN
S CO
4479
8383
8383
RURA
L TR
UST
INS
CO91
Ente
red
CLAD
SAFE
TY N
ATL
CAS
CORP
619
Ente
red
CLAD
SAMS
UNG
FIRE
& M
ARIN
E IN
S CO
New
to
quot
a79
Ente
red
CLAD
SENE
CA IN
S CO
3
9324
234
3En
tere
d CL
AD
STAT
E FA
RM M
UT A
UTO
INS
CO
194,2
0618
5,682
154,5
1613
7,542
123,6
9511
9,060
TEXA
S FA
RM B
UREA
U CA
S IN
S CO
(pre
v Sou
ther
n Fa
rm B
ur)
40,57
545
,183
43,80
641
,727
44,17
442
,311
TEXA
S HO
SPIT
AL IN
S EX
CH
10,89
511
,191
11,52
111
,836
11,93
512
,020
TNUS
INS
CONe
w to
qu
ota
1637
49Be
cam
e gr
oupe
d
Page 3
Exhibit 5, Page 6
TAIPA OTP
P Over/Und
er Rep
ort
10/05/20
17
COMP
ANY
OTHE
R TH
AN P
RIVA
TE P
ASSE
NGER
2nd
QTR
2017
Year
End
2016
Year
End
2015
Year
End
2014
Year
End
2013
1st Q
TR 20
17
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
ROVE
ROVE
ROVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
OVE
RUNDR
TORU
S NA
TION
AL IN
S CO
(chg
'd to
Sta
rsto
ne N
at'l
Ins C
o 11
/24/15
)40
0En
tere
d CL
ADEn
tere
d Ne
w CL
AD
TRAN
S PA
CIFI
C IN
S CO
New
to
quot
a16
Beca
me
grou
ped
TRIS
TATE
INS
CO O
F MN
4Be
cam
e gr
oupe
d
TRIU
MPHE
CAS
CO
New
to
quot
a13
913
9En
tere
d CL
AD
ULLI
CO C
AS C
O68
61,2
911,2
911,2
911,2
911,2
91
RCVR / CO Restricted; Storage YE
2017
UNIT
RIN
AUTO
& H
OME
INS
CO
32,15
932
,159
Wen
t int
o St
orag
e
Storage‐‐ YE 2015
TOTA
LS1,9
75,07
11,9
75,07
11,9
74,48
91,9
74,48
91,9
07,62
01,9
07,62
01,9
03,17
21,9
03,17
21,9
00,36
71,9
00,36
71,8
99,11
41,8
99,11
4
PREM
IUMS
CRE
DITE
D47
9,062
2nd
qtr
1,923
,849
1,993
,432
1,987
,161
1,777
,884
574,8
18 1s
t qtr
Page 4
Exhibit 5, Page 7